Quick Tip #9: What’s in a Word?
Did you know that, in legal terms, the word may is very different than the word shall?
Lawyers spend years dicing over such trivia, but that’s because they understand the bottom line: errors in your lease agreement could mean that a judge won’t enforce it. Then, it’s not worth the paper it’s printed on.
Lawyers are expensive – no mincing words there. But they are essential to developing a solid lease agreement. Online forms may (shall?) lower your costs. When choosing online forms, go with the ones that are specifically tailored for landlords, and applicable to your state. See our blog, How To Make Online Forms Work for You.
Then, have your lawyer review it.
Once you have a great lease, don’t change it without talking to the lawyer.
See our four-part series, How to Create a Solid Lease Agreement.
See last week’s Landlord Quick Tip.
Do you have a tip to share with other landlords? Email our editor at [email protected].
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at joinaaoa.
To subscribe to our blog, click here.