Use your state landlord trade association’s lease
Posted by John Reed on
My book How to Manage Residential Property for Maximum Cash Flow and Resale Value, 7th edition says you should use the lease created by your state landlord trade association. Realtors, home builders, Apartment Association
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Do-it-yourself leases can get you into big trouble. Your state trade association lease is probably created by the top landlord-tenant lawyer in the state, or one of the top three such lawyers. He or she needs to make the lease compliant with state and federal law. Furthermore, they also need to modify the lease whenever the pertinent law changes by way of a new statute or a court decision or a new regulations.
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I once got sued and the judge did not care for a clause in the Texas Apartment Association lease. I called the TAA lawyer who wrote it and kept it up to date and told him what the judge said. He instantly changed the lease and put an item about the change in the monthly TAA newsletter.
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Do-it-yourself leases can get you into big trouble. Your state trade association lease is probably created by the top landlord-tenant lawyer in the state, or one of the top three such lawyers. He or she needs to make the lease compliant with state and federal law. Furthermore, they also need to modify the lease whenever the pertinent law changes by way of a new statute or a court decision or a new regulations.
.
I once got sued and the judge did not care for a clause in the Texas Apartment Association lease. I called the TAA lawyer who wrote it and kept it up to date and told him what the judge said. He instantly changed the lease and put an item about the change in the monthly TAA newsletter.
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