What are Rental Agreements
A program designed to let a person or entity use land or property is known as a "rental agreement." It is basically a contract between the landlord and the tenant. There are basic components to almost all rental agreements. First, there is a description of the premises. The address of the residence is usually provided, though some rental agreements cover more than one piece of real estate.
Next comes information about the parties entering into the agreement, including full names and the status of each party. Also important in the agreement is what the purpose of the agreement is. Is the renter renting the property for business purposes or as a residence? Some rental agreements will stipulate that the premises cannot be used for any business purpose, at the request of the landlord.
Obligations of the landlord and the tenant are also included in most rental agreements . This is where any discrepancies between a written rental agreement and a verbal one could become a major issue. Both sides have rights and obligations according to the rental agreement, and these should be a point of negotiation when the agreement is being made. The duration of the rental, either a set period or a month-to-month basis, is also included.
It is important that rental agreement lawyers are involved in the process of writing a rental agreement so that none of the items, or the language used to describe the items, cause problems later. A document that is vague to the point where it could be interpreted in different ways should be revised so that everybody has the same understanding of the points in the agreement. The more specific and detailed the rental agreement is, the less likely it is that there will be disagreements or arguments later.
The Work of a Rental Agreement Lawyer
The primary function of rental agreement lawyers is to represent clients’ legal interest in drafting, reviewing, and negotiating the terms of the contract. Rental agreement lawyers are also able to represent clients in other matters, including lease terminations and ongoing leasehold matters. Negotiation of the agreement will often give rise to discussion of other matters arising in a real estate transaction such as the existing occupancy of the property, the existing state of the property, and zoning considerations. Rental agreement lawyers may also represent buyers in circumstances where they have a potential claim against the seller for failing to fulfill purchase and sale agreement obligations.
Rental agreement lawyers will ensure that the contract for tenancy satisfies all basic requirements of a tenancy and does not expose either party to potential liability. A tenancy falls under a unique set of rules and regulations and is not purely contractual. Both parties will leave themselves at risk if even a single rule is broken. A real estate agreement, by contrast, is purely contractual and parties are exposed to little risk in the context of a simple breach of agreement.
Attending to the existence of basic requirements, checking for legal compliance, and drafting the leases are important tasks that rental agreement lawyers perform for their clients. A poorly drafted contract can expose clients to significant risks and potential liability.
When to Hire a Rental Agreement Lawyer
There are a few situations where hire rental agreement lawyers become absolute necessity. First off, is in a legal dispute between the renter and the landlord. If there a legal dispute about what is what and who is right, then hiring an rental lawyer immediately is your best course of action. You need solid expertise on the matter and lawyers have it.
Another situation to hire a rental lawyer is if the local real estate market is complicated enough to deserve further attention. For example, if you’re renting a condo in the city, but it’s technically the landlord’s apartment in the eyes of the landlord, then that complicates things and will require the attention of a rental professional. Anyone who has rented in Toronto knows exactly what I’m talking about. People trying to claw back rent based on legal loopholes or technicalities is what makes the world of renting very confusing.
Thirdly, there’s no question that any time you’re renting a high value property that you should get a property lawyer involved in the process. With this many hundreds of thousands of dollars involved, make sure that everything is above board, and rock solid legal advice is the best way to go.
Lastly, common legal issues that arise in rental agreements are non-disclosure agreements, difficulty in negotiation, unreasonable terms, improper terms, an overly powerful landlord despite economics, and misunderstanding of what is being signed.
How to Hire a Rental Agreement Lawyer
When it comes to crafting secure tenancy contracts, it is important that you engage the services of an experienced rental agreement lawyer. The expertise of these professionals can make the difference between a secure and legally binding contract and one that exposes you to risk. However, not every lawyer will provide you with the same quality of service, and some may be more suited to your needs than others. With this in mind, it is crucial that you understand the factors to consider when it comes to making your choice. First and foremost, you should choose a lawyer with expertise in the field of commercial tenancy law. Although specific advice will be tailored to each particular case, there are still many issues that regularly arise in this area of law, and a specialist will be able to ensure that you do not miss anything. For instance, if you ever find yourself involved in a dispute, a specialist will be able to ensure that you receive the very best advice from start to finish. Experience is another essential consideration when choosing a rental agreement lawyer . It is of little use to find a specialist who has only recently qualified; while their knowledge may be up to date, their ability to put that knowledge to work for you could be lacking. As such, it is important that you select a lawyer with a proven track record of obtaining results. The best professionals will have post-qualification experience dealing with the specific legal issue you are facing, such as secure tenancies for businesses. Furthermore, a reputable professional should be able to provide a number of references on request. You will want to be sure that they are who they claim to be and that they can provide you with the service you require. While these references may be taken at face value, any positive reviews they contain can often be confirmed by other means, such as client feedback on third-party sites. Finally, it is important that you choose a lawyer that is fair and transparent in all of their dealings. You will be charged for the services you receive, and any potential additional charges should be made clear from the outset. Furthermore, you will want to pay fees that are commensurate with the level of service you receive, so you should be aware of the range you can expect to pay before you make your decision.
Advantages of Hiring a Rental Agreement Lawyer
Engaging the services of rental agreement lawyers ensures that the contract is not only legally valid but also minimizes the scope for future disputes. It will contain clauses that anticipate possible friction, such as failure to pay rental dues, material alterations and service charges, amongst others. The lawyers extend their services throughout the term of the contract as minor conflicts or defaults may arise. Such situations can create long and drawn out conflict that is both time consuming and expensive for the landlord or tenant. Engaging rental agreement lawyers at the outset have the benefit of preventing situations from escalating to a stage where they are legally contestable. They are familiar with the requirements of law and are able to handle any variations as per specific circumstances.
Cost of Hiring Rental Agreement Lawyers
The nature of the legal system is such that everyone often expects services from rental agreement lawyers to have a standardised fee. This is not the case. The fees incurred in hiring a rental agreement lawyer vary from case to case; and this is influenced by the complexity of the case that needs to be handled.
Going to court for tenant evictions, and other matters involving landlords, requires a lawyer experienced in such a legal process to stand up for your rights. In such a scenario, rental agreement lawyers are expected to charge up to R1000 per hour; and with court proceedings sometimes taking a long time to settle, it is anticipated that quite a lot of money will be spent on legal fees.
In cases that deal with an eviction situation, where no-one has been sued yet, and there is an indication that a rental agreement is going to be contested , the lawyer will charge a set fee for drafting a document to serve on the tenant. They may also charge a commission on the whole amount of the rental agreement; as well as the normal hourly rate.
The fees of a rental agreement lawyer are heavily influenced by their level of experience and expertise. Because of this, clients avoid using rental agreement lawyers because of their concerns over costs. However, rental agreements must be drafted in the right way; and the services of a rental agreement lawyer will help you keep the enforceability of those contracts.
Although it may not seem fair that you have to pay to reap the benefits of your contract, it is a necessary evil of life and business. Being able to bring orders with a rental agreement to cancel any disputes, and to pursue formal eviction proceedings in the courts, is priceless.