Many people who own second homes at the Lake of the Ozarks may choose to rent out to people vacationing in the area for the weekend. They may also choose to rent out their second homes to tenants on a long-term basis. It can be a GREAT investment. That being said, if you choose to do this, you should go about it the right way. Legally speaking, you can run into so many issues if you're not careful. There are a few MAJOR things an experienced lawyer at the Lake of the Ozarks can help you with if you're a landlord.
Why You May Need A Lawyer As A LandLord?
Your tenant causes SIGNIFICANT damage to your property.
Most lease agreements state who should be responsible for maintenance and damage to the property. Typically, the owner is responsible for normal wear and tear and the tenant is responsible for any significant damage they cause. If the tenant does not repair the damage they cause, they may be responsible for paying for the damage to be repaired.
Your tenant gets hurt on your property.
A renter may get injured on your property and claim you should be responsible for the accident. This is a tough situation to be in and you should consult legal assistance as soon as you are accused. Getting a lawyer involved can help guide you as to how you should proceed and if you have a case or not. A way to avoid this situation is to help ensure your rental property is safe for your tenants before an issue arises.
You have to evict a tenant because they failed to pay rent.
It can be tough to evict a tenant. Even with a good reason, getting a renter out can be tricky. You have to give a certain length of time for a tenant to get their belongings out of your rental. If they are reluctant, it can be a long process. It's important to consult a lawyer at the Lake of the Ozarks if you plan to evict a tenant. An experienced lawyer can help walk you through the process and let you know what rights you have as a landlord.
Your tenant is late making payments and you need legal assistance to get them to do so.
If you are struggling to get payment from your tenant, you may have to take legal action. Give your renter a reasonable length of time to make the payment. Try to work with them as to when they can pay you. If you make an effort to get the payment from the tenant, it shows that you are willing to negotiate and work with them. If you are past the point of working it out, a lawyer may need to be involved.
Ready To Become A Landlord?
If so, congratulations! This can be such a great investment for you and your family and we hope it works out for you. If you'd like to sit down with an experienced attorney in Lake Ozark that has dealt with many of these matters before, call Gibbons Law Firm today. We can be reached at (573) 348-2211. Your first consultation is free. You can also follow us on our social media channels listed below to stay up to date on our latest announcements.
Remember, your initial consultation with Gibbons Law Firm is always free.