I'm going to be purchasing my first rental property and will look to manage it myself (at least in the beginning). I have read the stickies on land-lording and read up on websites like ezlandlordforums.com to get proper documents.
Is it important to contact a RE Attorney to go over leases and other forums before renting to tenants?
Depends on the state. For example NY is very tenant friendly and Las Vegas is very landlord friendly. In my state I just use the standard rental lease agreement form from GLVAR. I just get it from my agent for free.
Kyle, I have identified which lawyer I would contact if needed (mostly to navigate our first eviction), but have not yet needed to involve her. I do, however, actively participate in two real estate groups, which is where I get my state specific guidance and paperwork. To me that is the biggest risk, not knowing what the local laws are and how to set up your paperwork to best address the laws. If you aren't relying on a lawyer to review everything, it's very important to stay educated and not get too creative.
Most States want you to use an attorney, and don't like you doing your own evictions. Courts will sabotage any attempts you take to do your own Evictions, don't ask me how I know that.
I understand the process completely, and don't need an attorney, but the courts won't let me get it done on my own, so even I have to hire an attorney. I do suggest you learn the process, so your attorney can't lie to you and have it take twice as long to get an eviction done. Understand and learn, so you can supervise what is being done and when, so your eviction can happen quickly.
Also find an attorney who works on a set price, as if you do it hourly, he will turn into twice the cost - don't ask me how I know this.
okay great, thanks for the responses. I'll have an attorney lined up and ready to use when i have to evict.
evictions you should use an attorney.
You should be able to navigate the rest without one.
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