The U.S. real estate market is generally expected to reach a value of $119.80 trillion in 2024, with a large segment dominated by residential real estate properties. By the end of this year, residential real estate properties will have a total value of $94.39 trillion.
The residential real estate market has always been a flourishing market where the value of property increases year by year. However, there are many challenges in this market. One of the biggest challenges is handling the landlord-tenant relationship. Landlord-tenant relationships are always seen as a contradicting and most disputed topic.
To resolve this problem and ensure harmony among the parties, there are landlord-tenant attorneys. They are expert in solving legal and property-related disputes among the parties and ensure that they are aware of their rights and responsibilities. Let’s look at what landlord-tenant attorneys are and what strategies they use to solve disputes among the parties.
Understanding a Landlord-Tenant Attorney
A landlord-tenant attorney is a legal representative, either an individual or a firm, who resolves the disputes between the landlord and tenant. They represent the landlord and tenant in matters related to renting properties and lease agreements. Furthermore, they guide the landlord and tenant in understanding their rights and authority over the property.
For a landlord, the attorney helps in the valuation of property, drafting and reviewing legal documents, and compiling with the state laws and federal laws related to property. For tenants, the attorney guides and represents them in disputes with the landlords.
The landlord-tenant attorney plays an important role in the real estate property by managing the landlord and tenant relationships. Given below is a detailed overview of why you should hire a landlord-tenant attorney.
Why You Should Hire a Landlord-Tenant Attorney?
Hiring a landlord-tenant attorney offers several advantages, including protecting the rights of landlord and tenants, solving disputes between them, and providing effective solutions to their problems. Here is an overview of why you should hire a landlord-tenant attorney:
1. Protection of Rights
In a landlord-tenant relationship, both landlord and tenant have their individual rights. Before entering into a legal contract, both parties need to ensure that their rights are protected. An attorney helps the landlord and tenant understand their rights and ensures that no parity violates or infringes the other party’s rights.
2. Resolving Disputes
Several times, landlord-tenant-related disputes arise when one party believes that the other party is violating their rights or when the landlord restricts tenants’ movements and changes in property. An attorney acts on behalf of both the landlord and tenant and solves the disputes. They try to handle the situation calmly and suggest innovative solutions that are in the favour of both parties.
3. Mitigation of Legal Risk
Landlord-tenant disputes sometimes lead to legal consequences due to which both parties suffer. Furthermore, hiring legal representatives involves huge costs and requires a lot of time and effort. An attorney specializes in legal matters, possesses a wide knowledge of the landlord and tenant’s rights, and has effective communication skills. They solve the legal matter between the landlord and the tenant and help mitigate the legal risk. It saves time and effort.
4. Negotiation
A landlord-tenant attorney has commendable negotiation skills. They negotiate the terms and conditions of the lease agreement and reach a conclusion that is fair for both parties, protects their interests, and provides them with the best renting experience.
5. Providing Legal Expertise and Guidance
A landlord-tenant attorney provides expert advice and guidance in matters related to real estate property and associated legal matters. Furthermore, they guide the landlord and tenant in drafting legal documents and changing legal deeds, mortgages, and lease agreements.
Strategies Recommended by Landlord Tenant Attorney to Resolve Disputes
The landlord-tenant attorney uses several strategies to solve the disputes between the landlord and tenants effectively. Here is a list of tips and strategies recommended by the landlord-tenant attorney to resolve disputes easily:
1. Identifying One-Sided Terms
Sometimes, a lease agreement contains several one-sided terms that favor one party and infringe on the rights of the other party. The parties should identify these one-sided terms and make a lease agreement that is in the best interest of both parties.
2. Leveraging Market Research
Conducting thorough market research related to current real estate market trends, property values, competition, and ROI is a must while forming a lease agreement. This market information, facts, and statistics help the parties agree on common terms and conditions and form a contract.
3. Negotiation beyond Price
In every lease agreement, there is always negotiation for the monthly rent. However, to make a lease effective there should be negotiations on factors other than price, such as repairs, maintenance, financing terms, and renovations.
4. Listening and Offering
One of the crucial elements in resolving disputes is to listen to the other party carefully, understand their requirements, needs, or problems, and then offer a solution that helps you both.
5. Clarify Your Goals
It is important for the landlord and tenant to clarify their goals. The landlord should communicate the purpose of renting, expected rent, and other terms regarding the use of property. At the same time, the tenant should communicate why they need to rent the property and their expectations. This helps reach a common understanding and makes the renting process easier.
Resolve Rental Disputes with Ease: Consult with Expert Attorneys
Resolving rental disputes is important for both landlords and tenants. It helps avoid legal issues, court hearings, and arguments and supports a long-term relationship. To avoid rental issues, the landlord and tenant can communicate their problems, understand the other parties’ needs, discuss them, and reach a common solution.
If the dispute is too big to solve personally, they can reach a real estate firm like Citadel Property Management Corp., which provides expert attorneys specializing in solving disputes and protecting the rights of landlord and tenant.
Frequently Asked Questions
1. What is the average commission of a landlord-tenant attorney?
The average commission of a landlord-tenant attorney ranges between 3%-4% of the rent.
2. What are the services offered by landlord-tenant attorneys?
The services offered by landlord-tenant attorneys include reviewing and drafting legal agreements, guiding the landlord and tenant about their rights, and negotiating lease terms.
3. How many landlord-tenant attorneys are there in the U.S.?
There are more than 7,165 landlord-tenant attorneys in the U.S.
4. What is the average salary of a landlord-tenant attorney in Massachusetts?
The average salary of a landlord-tenant attorney in Massachusetts is $116,527 annually.
5. What is the average salary of a landlord-tenant attorney in Washington?
The average salary of a landlord-tenant attorney in Wahington is $122,167 annually.
