The Top 5 Things to Consider with Free Lease Agreements
Finding the Right Real Estate Lease Agreement in Dallas: A Challenge2 min read
As a business owner or landlord in Dallas, finding the right real estate lease agreement for your rental property or situation can be a trial and error process. One thing that you should always plan for particularly is to review the legal agreement for any potential issues you may encounter, and to look for the best counsel to help mitigate those risks. Free lease agreements, while commonly used, are often filled with pitfalls and should be reviewed and discussed through a lawyer who is acutely aware of local Texas regulations. Here are the top 5 things to consider when looking into a free real estate lease agreement:
1. Use the Lease Agreement as a Base for Your Own
Blanket lease agreements are easily available online and relatively cheap or free to obtain, making them a popular choice for smaller landlords. However, this kind of agreement is heavily non-negotiable and does not often factor in specific local or state regulations. It’s important to have a lawyer review the document and advise on updating the agreement to ensure it meets your needs and those of your tenants.
2. Tailoring a Lease Agreement For Your Property Individual property owners and real estate agencies often use a wide variety of lease agreements depending on specific needs. Modifying the agreement to account for things like length of term, types of security payments, pet policies, and rent increases can help protect both the tenant and landlord. A lawyer can help facilitate the modification process to identify any legal areas that need to be addressed when changing the agreement.
3. Ensure All Legal Requirements are followed
State and local regulations have a significant impact on the types of situations the landlord or shire agents can be held liable for. This includes a binding custody agreement with the tenant, making sure each party obeys laws and regulations. It’s very important that the lease agreement clearly lays out each parties’ responsibilities with respect to the required regulations.
4. Protect against Unaffordable Outlays
The terms and conditions within a lease agreement can contain everything including length of tenancy agreements, types of property maintenance and repairs, and other circumstances. Protecting a tenant or landlord against any potentially expensive outlays associated with the tenancy is a crucial element of lease agreements. This can include property repairs and maintenance, the right to terminate the contract, and other factors such as pet policies or subleasing.
5. Hire an Experienced Lawyer
Seeking expert legal advice is essential when dealing with free lease agreements. Having someone with an in-depth knowledge and understanding of Texas regulations and real estate business regulations can help limit or prevent any legal complications. UpCounsel provides experienced lawyers with resources and expertise to help navigate any legal and regulatory complexities that may arise with the lease agreement.