Our Role As The Lawyer!
We are moving on to part four of our series “The Many Hats Of A Property Manager”! This month, we are discussing our role as The Lawyer and why it is a crucial part of what we do as a property management company.
There are many legal aspects to our job as a property management company, one of them being the enforcement of leases. Lease agreements are a crucial part of what Housing Hub does, not only drafting the document itself, but enforcing it and helping tenants understand its parameters.
But leases aren’t just a piece of paper tenants sign when moving into a rental unit - they are binding legal contracts between tenants and the landlord. A lease dictates what both parties can and cannot do during the terms of the agreement. If any legal action is taken by the landlord or the tenant, the lease will hold up in court. If either party doesn't follow the lease agreement, it is considered a breach of the agreement and may be enforceable by the legal system.
This is why it is so important that tenants read a lease before signing it. Doing so can also help residents avoid some charges upon move out. For example, some leases forbid tenants from nailing or drilling holes in the walls to hang pictures or other items. Such parameters are laid out in the lease, but if tenants don’t read the lease and put holes in the walls, they will be charged when they move out.
Housing Hub staff is always on hand to help residents understand their lease and answer any questions they may have, but it is the tenant’s responsibility to read their lease before signing it.
Stay tuned next week as we explore one of the other legal aspects of our role as a landlord - staying up to date on property management laws!