Hey Landlord! Is Your Lease Legal?

The longer you are a landlord the more you strive to create the perfect lease/rental agreement. Landlords learn in the school of hard-knocks that some tenants are certified trouble makers and we try our best to protect ourselves with a carefully structured restrictive lease.

That's just good business.... but be careful you don't include any provisions in your lease that may not be legal. For example...

It would be illegal to include a provision that states the resident agrees not to include his or her lease (the lease on your property) in their bankruptcy filing... should their bankruptcy become necessary.

Bankruptcy laws are Federal.. lease law is state law.

Anyone can file for bankruptcy and invoke all protections afforded to them by the U.S. Bankruptcy Code... including not making lease payments... at least temporarily.

Here's another caution...

It would be illegal for your lease to require that residents be responsible for injuries he or she sustain during the lease term. The law can legally hold landlords liable for damages and injuries caused due to negligence. A landlord cannot contract that away.

How about repairs....

The same would apply to a requirement that the tenant be responsible for all necessary repairs. In every state the law mandates that landlords perform certain repairs to maintain the property and keep it habitable.

Does your lease contain a clause concerning attorney fees?...

Requiring a renter to pay for all of the landlord's legal fees and costs regardless of a court case out come would also be a lease no-no.

Most good leases have stood the test of time and will help you avoid legal problems. Just don't ask tenants to sign it until you have read and completely understand every line of the lease you are using.

You'll find the lease we use here...

http://digbig.com/4ckcd

Mark Walters is a third generation real estate investor who shares his experience from two Web sites... http://www.CashFlowInstitute.com http://www.ThePowerLetter.com

MORE RESOURCES:

Learn to Profit from Real Estate - Even in Tough Markets - MarketWatch

Neuberger Berman Real Estate Securities Income Fund Inc. Announces ... - MarketWatch

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/1-0fd=Rurl=http://www.marketwatch.com/news/story/Neuberger-Berman-Real-Estate-Securities/story.aspx%3Fguid%3D%257B618BBA1C-45ED-4BC6-A6AA-A656072847FF%257Dcid=1277177500ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNEHZtsqDZVfpg48IigbWITz68siIQNeuberger Berman bReal Estate/b Securities Income Fund Inc. Announces b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1b.../b in the markets for its portfolio securities, and in particular, common and preferred stocks issued by bReal Estate/b Investment Trusts (quot;REITsquot;). b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-1fd=Rurl=http://www.webwire.com/ViewPressRel.asp%3FaId%3D81322cid=1277177500ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNENsAS-xjk8AHrtbcSzLIdZpJtIGQMarshall Capital Partners launches new $500 million fund for b.../b/a font size=-1 color=#6f6f6fnobrWebWire (press release)/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277177500hl=ennobrall 8 news articles/nobr/a/font/div/font/td/tr/table

Tokyo Replaces Shanghai as Best Asian City to Buy Real Estate - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/2-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601101%26sid%3DaIP5Kj6fVj6M%26refer%3Djapancid=1277107960ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNGB1mkUJ2IYkfUoIb-GaW_HY07_zgTokyo Replaces Shanghai as Best Asian City to Buy bReal Estate/b/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-14 (Bloomberg) -- Tokyo overtook Shanghai as the best Asian city to buy breal estate/b as investors seek less risky investment for 2009, a survey by the Urban b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/2-1fd=Rurl=http://www.reuters.com/article/marketsNews/idUST27950420081203cid=1277107960ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNGIVL8hNugxYxZBRkE7sXz-OJdwUgKeen to invest in Asian breal estate/b, consider Tokyo/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277107960hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table

Nokomis Real Estate Ventures LLC files bankruptcy petition - Bizjournals.com

UPDATE 2-Sibir market value halves on real estate buy - Forbes

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/4i-0fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNH3Im4ri4JAjdEYlPhN3d6adBN0rQimg src=http://news.google.com/news?imgefp=G0Z9onrcFO0Jimgurl=static.guim.co.uk/sys-images/Business/Pix/pictures/2008/12/03/sh4.jpg width=80 height=48 alt= border=1brfont size=-2guardian.co.uk/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://www.forbes.com/afxnewslimited/feeds/afx/2008/12/03/afx5771724.htmlcid=1277136024ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNFwLeluXy2Mf0V3FCIoP8wp8zAr8QUPDATE 2-Sibir market value halves on breal estate/b buy/abrfont size=-1font color=#6f6f6fForbes,nbsp;NYnbsp;-/font nobr9 hours ago/nobr/fontbrfont size=-1Sibir had already outraged minority shareholders when it said in October it would buy some $157 million worth of breal estate/b from its key owner, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-1fd=Rurl=http://www.reuters.com/article/rbssEnergyNews/idUSL364626620081203cid=1277136024ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNEqJwwfGUwFIomQ-_lMtqo-Y9MV7wUPDATE 1-Sibir shares sink 30 pct on breal estate/b buy/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-2fd=Rurl=http://en.rian.ru/business/20081203/118667008.htmlcid=1277136024ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNE--YcTRLE5paVb9dt0dScErVEFkgSibir Energy to buy $340mln breal estate/b assets from developer - 2/a font size=-1 color=#6f6f6fnobrRIA Novosti/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-3fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3DaS_Y7fzEKDYc%26refer%3Dhomecid=1277136024ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNHsjEDT5ECOpTaTIRBkxyTu7EyCWASibir Plunges 57% on Russian Billionaire ‘Bailout’ (Update4)/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/4-4fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNH3Im4ri4JAjdEYlPhN3d6adBN0rQnobrguardian.co.uk/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/4-5fd=Rurl=http://www.sharecast.com/cgi-bin/sharecast/story.cgi%3Fstory_id%3D2492212cid=1277136024ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNExYjehh_xa_JtgdAh0zY9Hne4IXwnobrShareCast/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277136024hl=ennobrall 79 news articles/nobr/a/font/div/font/td/tr/table

Icahn Sues Real Estate Company Over Debt - New York Times

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.nytimes.com/2008/12/03/business/03realogy.html%3Fref%3Dbusinesscid=1276968847ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNEfQ3gBjbe9NYe3E6bkKb8DVEpTIQIcahn Sues bReal Estate/b Company Over Debt/abrfont size=-1font color=#6f6f6fNew York Times,nbsp;United Statesnbsp;-/font nobr20 hours ago/nobr/fontbrfont size=-1Mr. Icahn’s investment firm filed a lawsuit last Wednesday against a breal estate/b company controlled by Leon D. Black, a prominent Wall Street buyout b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-1fd=Rurl=http://www.reuters.com/article/marketsNews/idUSN0334498820081203cid=1276968847ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNHUn1J1_MJheIdxD6NGoQELCUaYDgUPDATE 1-Icahn sues Realogy over debt deal/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-2fd=Rurl=http://www.ft.com/cms/s/2/33d6d2f0-c0ba-11dd-b0a8-000077b07658,dwp_uuid%3De8477cc4-c820-11db-b0dc-000b5df10621.htmlcid=1276968847ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNGhKqZhy790__zC9z3xtoc5_x-XSwRealogy PIK bond holder group led by Icahn related fund; trustee b.../b/a font size=-1 color=#6f6f6fnobrFinancial Times/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276968847hl=ennobrall 18 news articles/nobr/a/font/div/font/td/tr/table

Former employee sues real estate mogul Kushner - Reuters

Whitehall Funds Lose Their Luster - Wall Street Journal

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://online.wsj.com/article/SB122826598899374457.html%3Fmod%3Dgooglenews_wsjcid=1277094278ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNGqYXpjclaFc67bYffs89XPnu9JCAWhitehall Funds Lose Their Luster/abrfont size=-1font color=#6f6f6fWall Street Journalnbsp;-/font nobr15 hours ago/nobr/fontbrfont size=-1By ANTON TROIANOVSKI and LINGLING WEI Goldman Sachs Group Inc.#39;s Whitehall family of breal-estate/b funds is struggling with weak performance and potentially b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-1fd=Rurl=http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0351371720081203cid=1277094278ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNHKpxceEBAW-JDqKsiF5Nj64Y3NbAGoldman Whitehall head warned of firm#39;s exposure/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-2fd=Rurl=http://www.reuters.com/article/marketsNews/idUSBNG24933320081203cid=1277094278ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNH_xXUDymRq-wDCOpnrI2cMZi2Q0wGoldman Whitehall funds hit by property slump-WSJ/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277094278hl=ennobrall 7 news articles/nobr/a/font/div/font/td/tr/table

What Lies Ahead In The Real Estate And Financial Services Industries - The Metropolitan Coporate Counsel

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/8i-0fd=Rurl=http://www.wnct.com/nct/news/national/article/new_paulson_says_other_rescue_programs_being_examined/25084/cid=1276839629ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNEuA_VmOlCdFmKLdCjm0bFG7-EQ6wimg src=http://news.google.com/news?imgefp=YRdyxUj2LtsJimgurl=media.wnct.com/wnct/img-story/images/uploads/Wall_Street-Federal_Reserve-bail_out.jpg width=80 height=60 alt= border=1brfont size=-2WNCT/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://www.metrocorpcounsel.com/current.php%3FartType%3Dview%26artMonth%3DDecember%26artYear%3D2008%26EntryNo%3D9115cid=1276839629ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNHla4HARccPyuK-uU90zmMFdoyLcAWhat Lies Ahead In The bReal Estate/b And Financial Services Industries/abrfont size=-1font color=#6f6f6fThe Metropolitan Coporate Counsel,nbsp;NJnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1The Editor interviews Dominic De Simone and David Barksdale, Partners in Ballard Spahr#39;s bReal Estate/b Department in the firm#39;s Philadelphia and Las Vegas b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-1fd=Rurl=http://www.opednews.com/articles/Paulson-shoots-another-arr-by-Andrew-Hughes-081203-438.htmlcid=1276839629ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNF4nH1YHRwH8lXw0nj126ZI7ITEFgPaulson shoots another arrow in to the heart of the Economy/a font size=-1 color=#6f6f6fnobrOpEdNews/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-2fd=Rurl=http://industry.bnet.com/financial-services/1000217/financial-roundup-landamerica-leaves-investors-hanging-gao-urges-faster-bailout-controls-small-business-credit-available-go-bankrupt-and-face-the-sec/cid=1276839629ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNGP5gqnW9HNFGGDNDwDtjujlnnyWwFinancial Roundup: LandAmerica Leaves Investors Hanging, GAO Urges b.../b/a font size=-1 color=#6f6f6fnobrBNET/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-3fd=Rurl=http://www.istockanalyst.com/article/viewiStockNews%2Barticleid_2847708.htmlcid=1276839629ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNG8OL-Au43jTTZJA55ldfbDlehxmABoost Sought for Bank Based in Charleston, SC/a font size=-1 color=#6f6f6fnobristockAnalyst.com (press release)/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276839629hl=ennobrall 506 news articles/nobr/a/font/div/font/td/tr/table

Inland Real Estate Auctions, Inc. Sells Industrial Site in Seneca ... - MarketWatch

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.marketwatch.com/news/story/Inland-Real-Estate-Auctions-Inc/story.aspx%3Fguid%3D%257B11D52A18-4076-4474-9C4A-F7F53F1C183D%257Dcid=1277200823ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNH_YPq51jjrzwTa4FlHodf9flNdygInland bReal Estate/b Auctions, Inc. Sells Industrial Site in Seneca b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr3 hours ago/nobr/fontbrfont size=-1One of the nation#39;s top auctions firms, conducting transactions from coast to coast, Inland bReal Estate/b Auctions, Inc. is a leading provider of accelerated b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://www.marketwatch.com/news/story/KPMG-Corporate-Finance-LLC-Taps/story.aspx%3Fguid%3D%257B0B78E8A1-8AEC-4007-AF82-59A1AB3B7581%257Dcid=1277200823ei=AfA2SfuoCqOQmAfq_Y2lDwusg=AFQjCNHj5Z-dNJUykV9KiUpIywp-xRdSTQKPMG Corporate Finance LLC Taps Renowned Auctioneer Frank J b.../b/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277200823hl=ennobrall 10 news articles/nobr/a/font/div/font/td/tr/table

Real-Estate - Google News

RELATED ARTICLES

5 Things to Look for in a Property Appraiser
Homeowners who are seeking a property appraiser often ask "How should I choose which real estate appraiser to use?" When selecting a property appraiser, keep the following in mind:Always make sure a property appraiser is licensed or certified by the state to perform real estate appraisals. While state licensing and/or certification isn't always an indication of quality, it ensures that an individual is has met certain standards and been authorized to perform property appraisals.

Home Loans - Identity Theft Protection Could Hurt Home Sales
Identity theft has been a hot topic in the news during the last few years. Just a month or so ago, forty million credit card numbers were compromised due to a computer attack on a credit card processor.

Chapter One FSBO the Russ Miles thriller/mystery novel
Chapter OneShe reached the phone on its second ring. "This is Tami!" She confidently answered.

4 Simple Tests To Find Good Real Estate Investment Properties
You're driving along the road when you spot it. There in the middle of a shaggy lawn sits a disheveled property.

Looking into Buying Mobile Homes?
To own a home is one of the dreams every common man cherishes, even from the childhood. With hard work and years of savings, he might be able to build or buy a dwelling for him and his family.

Grab Quick Profits As Real Estate Prices Soar
Real estate values rise and fall in cycles. Currentlyhome prices are nearing a top in many areas.

3 Top Real Estate Investing Methods for Maximum Wealth
Real Estate investing can be used to gain wealth in three major ways -1. Long-term Real Estate investing is most often utilized using appreciation as a planning tool.

The Great Real Estate Bubble Quiz
You hear it asked on the radio, in the newspapers and on TV."Are we experiencing a value bubble in real estate and is itready to burst?"Do you have an answer for that question? Do you have a guess?Yes, I know the so called experts are lining up on both sides of the question.

We Buy Houses Scams - How to Spot Them and How to Avoid Them
There are many reasons why a home owner would want to sell a house fast. Job change, relocation, debt problems, divorce and inheritance are just a few.

Interior Design Secrets for Selling Houses
New concepts in Interior Design Psychology are helping home sellers net more money in today's competitive real estate market. Therefore, it's worthwhile to spend time planning the changes that will help your home sell for the highest price.

How to Research and Purchase a Good Investment Property
How much do you really know about investment property? Accurate research and professional expertise applied to the purchase of an investment property builds a solid foundation for financial success. You may want to work with a REALTOR who can help to identify the great opportunities in investment properties in the area of your choice.

How to Sell Your Own Home and Save Thousands of Dollars
Most people take the easy way out when selling their home and hand the responsibility over to a real estate agent, when in fact the average homeowner is capable of selling their own home.Apart from the satisfaction of making the sale yourself there is the bonus of saving thousands of dollars in agents fees.

Real Estate Investing - "The Neighborhood Factor"
Real estate investing can be a dream career when the process of buying and selling is mastered. The biggest challenge in real estate investing is not the money to get started or the availability of the product.

How to Get Started in the Real Estate Game Fixing and Flipping Houses
If you're looking to get started investing in real estate by fixing and flipping houses, you'll want to know what to type of property to buy. Many real estate investors make millions turning ugly houses into dollhouses.

Real Estate: A Strong Investment
Description: Even in uncertain economic times like these, history shows that real estate is one of the soundest investments a family can make. Also remember that the stock market is not the only place where people can make their fortunes.

Negotiating the Real Estate Contract
Negotiation is the process of communication back and forth in order to reach a joint agreement. There is no "one size fits all" strategy of negotiating a real estate contract.

Property Investing Secrets 1
When property investing, pay the seller their asking price but negotiate the terms under which you can buy property. You'd be absolutely surprised when property investing at how many sellers will help fund you into their property.

Buy or Sell First?
When it comes to home buying, the ideal situation would be to find a new home, just as you receive an offer on your existing home. You would then be able to close concurrently and move into your new home a few days prior to closing on your previous home.

Is a Vacation Home Right for You?
Many of us dream about owning the vacation home in the Mountains, or on the Lake or Ocean. A place where one can retreat periodically from the hustle-bustle of everyday life.

Home Selection Checklist - A Good Aid When Choosing a Home
This home selection checklist is a tool to help you select a home that is right for you and your family. Before you select a home and get a mortgage, you need to know if you will be happy with the home you select for the coming years.