Residential lease agreements
What is a residential lease agreement?
States generally regulate the renting or leasing of property for residential or commercial purposes. These laws cover a range of practices, such as how security deposits are handled, assignments, evictions, and more.
State and local laws may also have a substantial effect on how owners may use their property. Zoning and environmental laws affect development and construction projects and need to be closely evaluated. Community or homeowner association rules affect the use of property in many residential communities and may assess the owner fees to ensure appropriate behavior in accordance with applicable rules.
Do you need an attorney to help review a residential lease agreement?
Yes – Whether you are a tenant or landlord, it is strongly encouraged to make sure you hire an attorney to help you review and draft or negotiate a lease agreement. Due to the prevalence in legal language, people can have difficulties understanding the complexities of certain real estate provisions in real estate contracts.
It is important to understand legal risks associated with real estate contracts and an attorney can help identify such risks so you are in a better position to manage those risks by negotiating more favorable terms in real estate contracts. This will also enable parties to perform their obligations better.