Leasing property for commercial or residential use can be a good way to earn money. However, landlords often have to deal with a number of issues with tenants. When problems start small, it can be easier to address them. Under these circumstances, tenants and landlords can simply examine the lease and discuss an issue as well as possible resolutions.
However, problems sometimes seem small at first and quickly erupt into serious legal battles when they are not or cannot be addressed early on. Landlords should be aware of a few common problems that start small but often spark contentious, costly lawsuits in order to avoid them if possible.
- Late rent: It might not seem like anything but an inconvenience for a tenant to be late with rent. However, one late or missed payment can set a dangerous precedent. Tenants can take advantage of leniency and start habitually paying late or not at all.
- Security deposit subtractions: Landlords can take money from a security deposit to cover expenses outside of normal wear and tear. However, without a thorough and accurate explanation of why money was not returned to a tenant, that tenant may choose to take legal action seeking the return of their deposit.
- Denied rental application: You may not think denying an application is a big deal, but if the applicant or another party believes that your actions were discriminatory, they could file a housing discrimination complaint.
Property owners across Toledo would be wise not to ignore or downplay these matters. In many cases, they can be resolved fairly easily. However, if you don’t deal with them properly or right away, they can become much larger problems that spark costly litigation and significant penalties.
If you have questions or concerns about disputes with tenants, you should consider consulting an attorney sooner, rather than later. With immediate action and legal guidance, you can protect yourself, your livelihood and your property.