Seeking Advice on Legal Obligations when Leasing a Tenant

[Benjamin Sulka]

I'm brand new to real estate & am looking to start investing in small multi-family in my local area when I graduate college in the summer of 2023. 

Before you look for a tenant, you obviously need some sort of leasing agreement. I'm assuming a lawyer needs to be involved to make sure things are done right. 

Should you use a lawyer when creating a lease agreement? What other legal obligations need to be fulfilled when you're renting out a duplex, triplex, or fourplex? 

I'd greatly appreciate any advice.

Ben Sulka 

[Nathan Gesner]

Quote from @Benjamin Sulka:

I'm brand new to real estate & am looking to start investing in small multi-family in my local area when I graduate college in the summer of 2023. 

Before you look for a tenant, you obviously need some sort of leasing agreement. I'm assuming a lawyer needs to be involved to make sure things are done right. 

Should you use a lawyer when creating a lease agreement? What other legal obligations need to be fulfilled when you're renting out a duplex, triplex, or fourplex? 

I'd greatly appreciate any advice.

Ben Sulka 

 You do not technically need an attorney. You could drop a contract in crayon on toilet paper or operate on a handshake agreement. The problem is that you do not understand the law, so it's advisable to seek an attorney for a professionally written lease agreement.

However, most lease agreements written by attorneys are full of legal jargon that nobody understands and therefore struggles to abide by or enforce. It would be more effective to have a lease agreement written in understandable language, developed by investors, and within the confines of your state law.

that is exactly what the bigger pockets lease agreement package includes. Written by actual investors, four investors, and approved by an attorney for your specific state. It is available for $99 under the tools menu, which is 1/2 or 1/3 what you would pay an attorney. Buy it, learn it, use it, enforce it.

and if you have any questions, I am not an attorney and can't give legal advice, but I am happy to help you better understand it.