Effective Lease Agreements for Landlords
Using legally sound lease agreements is a great way to protect your real estate investments. LegalShield provides a suite of affordable services for landlords seeking legal advice to help navigate landlord-tenant laws.
Protect Your Investments with a Solid Lease Agreement
74.4% of rental properties are owned by individual investors. Whether you have one property or have built a small real estate empire, it’s important to protect your investments by leasing them to tenants using legally sound written lease agreements.
Landlord-tenant law is different in every province. As such, it’s important that your lease agreements follow the laws and regulations in the local area. Starting with an online template may save money in the short term, but it leaves you open to liability or unenforceable clauses. The best way to make sure you have the necessary legal protection is to work with a law firm that understands the landlord-tenant laws in your state.
As a LegalShield member, you’ll not only have access to real estate lawyer-drafted templates, you get an unlimited amount of phone consultation with a local lawyer.
Join LegalShield today and speak with a lease lawyer.
Six Key Rental Agreement Terms to Include
While lease agreements need to follow local law, there are six key terms or lease provisions that should be included in any rental agreement that can help avoid landlord/tenant disputes.
- Address of the rental unit and the signatures of all adults living in the unit
- The precise term of the tenancy
- Maximum occupancy limits
- Clear statements about the amount, date, and manner of submitting rental payments
- The amount of the security deposit and the terms of its return upon moving out
- The conditions and any penalties owing for early lease termination for either landlord or tenant
For a small monthly fee, LegalShield lawyers in your province are available to review your lease agreement and provide feedback in 3 business days or less.
Have a Lawyer Resolve Lease Disputes
Unfortunately, even tenants who have signed airtight lease agreements could damage property or fail to pay rent from time to time. LegalShield is here to help you deal with tenant matters. Here are some important steps to take when dealing with troublesome renters.
- Review the lease and keep records of all your actions and communications with the tenant.
- Know the laws in your province and be sure to meet your obligations as a landlord, including those listed in the lease.
- Send a notice of late rent according to the terms of the rental agreement.
- If the tenant does not respond to your notice of breach, first talk to the tenant to better understand his or her reasons, making sure that you document everything.
- Send a pay or quit notice (the first step in most eviction processes) with legal help.
- File for eviction with help from a leasing lawyer.
In many provinces, tenants have substantial legal protections, and running afoul of tenants’ rights can land you in hot water. If you’re unsure about how to handle a tenant issue, join LegalShield and our lawyers can guide you. In more serious situations, your lawyer can get involved directly to negotiate a positive resolution.
How a LegalShield Small Business Plan Works for Leases
All LegalShield plans come jam-packed with valuable benefits for legal services. When it comes to dealing with rental property leases, the most common plan usage is in two areas.
Consultation and Advice
You can have unlimited phone consultation with a business lawyer to get questions answered, receive legal advice and make sure you’re making the right moves.
Document Review & Negotiation
You can have your lawyer review any documents (up to 15 pages each) and even make phone calls and write letters on behalf of your business to resolve disputes with vendors, creditors or customers.
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Key Features of Our Small Business Legal Plans
LegalShield’s business plans can help you in the following areas.
Advice, Consultation, Research
Legal consultation from a provider lawyer on business legal matters, with legal research for each issue, if needed.
A collection letter from a provider lawyer could help you recoup payments more efficiently.
Put business-related legal documents through legal review.
Receive help with business legal matters more efficiently with professional communications issued on your behalf.