COMMON COSTLY MISTAKES LANDLORDS MAKE

COMMON COSTLY MISTAKES LANDLORDS MAKE

Our focus here is on the mistakes land and property owners make in tenancy and lease agreements. One of the biggest mistake is this: not having a written Agreement at all.

It is something I can’t seem to rationalize. Why would you make huge investments in real estate with the current state of the economy and rising cost of everything, bring in an occupant who pays rent to you and not have a Tenancy or Lease Agreement binding you two?

I understand some property owners take that route to save cost or because he or she trusts the occupier to not disappoint.

Very big mistake. Huge miscalculation. Take it from me: it doesn’t end well. It’s a time bomb waiting to explode.

The issues surrounding tenancy and lease are too many and complicated to be left in the realm of oral agreements and trust.

When issues regarding just about anything that relates to the tenancy or lease crop up, it’s the Landlord’s word against those of the Tenant.

Chances are you will end up getting hurt. No two ways about it. In our 19 years experience in property law practice at Apex Chambers, this avoidable error keeps reoccurring.

Don’t fall into that error. First things first. Always remember, some mistakes are too costly to remedy.

Have a properly worded and comprehensive Tenancy or Lease Agreement prepared by a Property/Real Estate Lawyer before the property is occupied.

__________________
APEX CHAMBERS, Award-winning Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors, Advocates, Counsel and Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls and Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com