Property Management Services
If you own rental property, you understand that things don’t always go smoothly when dealing with your tenants. When things start “breaking bad” with your tenants, the lease agreement is the most important factor in determining your rights and remedies. While Indiana law is generally pro-tenant, a strong lease agreement can give you the tools you need to ensure you don’t waste time and money dealing with a bad tenant. Make sure your lease contains these key provisions:
Tenants often will make partial payment for rent. If you accept these payments, it can complicate your rights to evict a non-paying tenant. Make sure you have a Non-Waiver Clause in your lease that allows you to accept partial payments, but still retain your rights to go after other remedies, including eviction, if your tenant doesn’t make all his or her payments.
Attorney Fee Clause
Tenants often have nothing to lose by going to court – after all, if they have breached the lease, it typically means they aren’t paying anyway. Having a provision allowing the landlord to obtain attorney fees and court costs is a good way to protect yourself if you need to take your tenant to court either for possession (eviction) or damages.
Notice of Damages/Repairs
A landlord can only make repairs for issues of which he or she is aware. While a landlord owes a duty of habitability to his or her tenants, strong lease language that requires a tenant notify the landlord, in writing, of any defects or damages to the home will help protect the landlord from claims of non-repaired damages which are often made by tenants (usually after the security deposition statement is provided).
There are numerous other lease provisions that are important to maximizing your rights and protecting your property as a landlord or property manager. I work with landlords and property management companies through every step of the process – from lease drafting, to implementation, eviction, and recovering damages. Give me a call, or shoot me an email, if you need assistance with any aspect of rental or property management services. I look forward to working with you to maximize the income potential for your rental properties.
Attorneys with a Focus on Property Management