The Lake of the Ozarks is in need of more rental housing, there is no doubt about that. Gibbons Law Firm wants to encourage you if are considering becoming a landlord at the Lake of the Ozarks. It can be a great way to create an income stream and provide much-needed housing for the area. But there are certain legal issues that are involved when it comes to getting into the rental business at Lake of the Ozarks. Having a relationship with an experienced landlord-tenant lawyer at Lake of the Ozarks can be a huge asset in your rental business. If you are curious about what legal issues you might need to be prepared for, and how our law firm in Lake Ozark could help, we will describe 3 for you in today’s blog.
1) Contracts
It all starts with a properly drawn up lease agreement. You want your tenants to know exactly what their rights and responsibilities are, and as a landlord, you want to know what your rights and responsibilities are as well. When these things are clearly lined out for both parties, it makes compliance and enforcement much more successful. By having an experienced attorney in mid-Missouri draw up your lease agreement, you can be in the best possible position if you ever have to enforce that legal document. Some things that your lease agreement should specify Include the exact terms of the lease, precisely who the tenants are, what the payment amounts and due dates are, as well as deposits, fees, fines, etc. When you work with Gibbons Law Firm, you can rest assured that your lease agreement will include everything it should clearly and specifically.
2) Eviction
Unfortunately, sometimes it becomes necessary for a landlord to evict a tenant. It is not a fun situation, and can be quite stressful, especially depending on your contracts and the way you go about the eviction process. Both parties have rights and it’s important that you take the correct steps in the right order to be successful with an eviction. We can help you handle that situation legally and effectively.
3) Property Damage
This can go both ways. Sometimes tenants create significant damage during the course of time they are renting. If you experience major property damage because of your tenants, we highly recommend seeking the help of a tenant landlord attorney to analyze the situation and see if you have a case. We can also guide you through the process of seeking compensation. In addition, a landlord-tenant attorney can provide legal guidance if you have a tenant that claims they have suffered property damage because of e.g. an unsafe environment, or something like a leaky roof. They can walk you through the process to assess your responsibility or legal liability, and proper course of action. Gibbons Law Firm can help you through this scenario if you ever face it.
Get the Guidance You Need at Gibbons
In general, it’s just really a good idea to have a relationship with a landlord tenant attorney if you are thinking about getting into the rental business. Having a local attorney with the knowledge to guide you in the variety of legal issues you may face as a landlord is not only an asset to your rental business, it is a load off your mind allowing you to focus on your business rather than worry about legalities. We do offer free initial consultations, so if you’d like to come in and get to know us and learn a little bit more about the legal issues you want to be prepared for as a landlord, we invite you to give us a call and schedule an appointment. Would love to sit down and talk with you. If you enjoyed this blog and would like to hear more legal tips and information from our law firm, we have links below for you to follow us on social media.
Remember, your initial consultation with Gibbons Law Firm is always free.
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