Being a landlord can be difficult, many legal issues can arise in the course of preparing a property for a tenant, and of course during the tenancy. Litigation is a very real prospect for landlords, and it can come from many different avenues. There are many liabilities to be aware of, both as a private and a commercial landlord. What do you need to know about landlord litigation?
Your lease is everything
In the event of litigation, no matter what has caused it, the clearest way to state your position is through your lease. In order to protect yourself, your assets, and your tenant, it’s essential that you begin the tenancy with a well-formulated lease. There are many lease templates available, and these can be useful to give you a general idea of lease structure and what should be contained, but you must get your lease custom drafted by a legal professional. This will help ensure that the necessary inclusions are made from the outset.
One of the more common instances of litigation between tenants and landlords revolves around the process of eviction. Non-payment of rent usually triggers an eviction process, but there can be other breaches of the lease contract that can bring it about as well. Local and national law, the lease terms, and the circumstances surrounding the eviction will all play a part in determining how the case is handled. It’s important that you seek legal advice before triggering eviction proceedings, to first make sure that you have a viable contractual case for doing so.
Tax can be another serious issue as a landlord, and you must remember to fill in your self-assessment correctly and as punctually as possible. Do not forget your Jan 31st deadline for paying what you owe. Filling in your self-assessment return can be a chore, especially if you have multiple properties and several different income streams as a part of your portfolio, but it’s essential you take the time to do it properly. If you’re not confident, seek the services of an experienced taxation specialist who can help you to understand what your obligations are regarding your taxable income, as well as to help you ensure you’re able to make your return on time.
The benefits of getting professional help
All issues related to your legal liabilities and potential risks for litigation are better understood when you seek the assistance of appropriate legal consultation. At Fusion Consultancy, we understand how the laws relating to tenancy can help you to identify potential issues you might face and give you key insights into how you should approach the most common types of litigation that landlords face. Including how to best protect yourself against them. It can be one of the best investments you can make as a landlord, as it could save you having to deal with a potentially long and expensive court case.
The better you understand your rights, responsibilities, and your obligations as a landlord, and the same as regards your tenants, the better protected you will both be. Speak to our specialists in landlord litigation as soon as possible, to ensure your likelihood for litigation is minimal. Don’t wait until you’re facing a claim before seeking professional legal advice and guidance. Register here for a FREE consultation with our litigation team.