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Maryland Property Law Attorney: Common Landlord Mistakes Made When Renting Property

rental_houseRenting property can be an excellent source of income though mismanagement can cost you more than the expense of planning ahead. Here are some common landlord mistakes that I have found. For a free, confidential conversation to discuss these or other property law matters, or to create a sound lease agreement and other important property documents, contact Maryland property law attorney Stephen J. Reichert at 410-299-4959, or by clicking here.

Poorly Drafted Rental Applications

Be thorough in the drafting of your application and in your review of potential tenants. It is important to obtain all the information allowed by law about your potential client so that you can avoid high risk individuals, thus reducing your liability (and headaches) and ensuring a successful landlord tenant relationship.

Poorly Written Lease Agreements

Having a comprehensive Maryland lease agreement that meets all the needs and demands of your business and your rental property is critical. I have yet to review a standard free lease agreement or free lease template that comes close to including all the necessary provisions needed to protect you from liability and unforeseen issues that could destroy your business. Creating a legally sound lease now will help you avoid trouble, and expenses, in the future.

Discriminating Against Prospective Tenants

Make sure you are not unknowingly, or unintentionally, in violation of fair housing laws. Your listing should not target or exclude any specific group of people. The way in which you interview prospective tenants, and ultimately reject or accept prospective tenants, could also be in violate of fair housing laws. You should consult an attorney now instead of paying for your mistakes later.

Having Inadequate Insurance

Renting property exposes you to additional liability from accidents, and regular homeowners insurance often does not provide adequate coverage. Protect yourself from liability by purchasing landlord insurance coverage or have a carefully constructed lease that complies with the law and requires the renter to carry the proper insurance.

Failure to Disclose Information

It is important that the landlord disclose defects and potential defects about the property. In most instances it will not be enough just to disclose but also to remedy the problem. You need to know what you are required to disclose to tenants and what you are not.

For a free, confidential conversation to discuss these or any other property law, or landlord-tenant matters, contact Maryland property law lawyer Stephen J. Reichert at 410-299-4959, or by clicking here.

Mr. Reichert personally serves clients, either in-office or at your residence, throughout most of Maryland including Baltimore, Baltimore County, Anne Arundel County, Howard County, Carroll County, Harford County, Frederick County, Montgomery County, Washington County, Cecil County, Calvert County, Prince George’s County, Kent County, Queen Anne’s County and Talbot County.