Diversifed Investors Group - Philadelphia Commercial Sub Group

[Joseph Scorese]

Diversified Investors Group – Philadelphia Commercial Sub Group

Location: London Grill, 2301 Fairmount Ave, Philadelphia, Pennsylvania 19130

Date: March 3rd, 2015 6:30-8:30PM we meet the 1st Tuesday of the Month

Discussion: Protecting your Landlord Rights with the Right Lease in Place for Investment Property

Speaker: Michael E. Adler, Esquire, Law Office of Michael E. Adler, Business Law - Real Estate – Litigation, Email: [email protected], Phone: 215-485-0542

Though the investment housing market has started to recover, many Professional Real Estate Investors still are renting there properties quickly. The key is with your Lease for the Tenants being correctly put together or you may become a reluctant landlord.

Protect your rights with a lease. Have a written lease so that each party understands their rights and obligation. A good lease complies with fair housing, rental, health and safety, and tenant and insurance laws of your region. Working with a Local Attorney is very important. Avoid using blank leases from the Internet, she warns, because they may not comply with the laws in your area.

A Lease should spell out the following and will be discussed:

?Lease term
?Security deposit
?Due date for rent
?Routine repairs, upkeep and maintenance responsibilities
?List of tenants
?Rules of behavior
?Pet policies
?Homeowner association dues and rules
?Arrangements for showing
?Eviction terms