A lease agreement can be beneficial for both landlords and tenants. Nonetheless, conflicts can arise, which often result in legal battles and significant financial costs.
Recognizing some of the most common causes of residential lease disputes can help prevent them. Here are some of the most common causes of residential lease disputes.
Disputes over rent
Rent offers landlords a steady income and a secure home for tenants. However, there may be occasions when a tenant fails to pay rent on time due to financial difficulties. This is one of the leading causes of residential lease disputes.
Landlords cannot afford to go extended periods without payment. They may be forced to initiate eviction proceedings, which can take time and cost a significant amount of money.
Maintenance and repairs
Disputes can also arise about maintenance and repairs. Landlords have an obligation to keep the property in good condition. However, that does not mean they are responsible for repairing the damage that the tenant has caused. The terms of maintenance and repairs should be clearly outlined in the lease agreement.
Security deposits
Tenants typically pay security deposits. These cover damages to the property. However, security deposits should not be withheld based on normal wear and tear. A tenant is entitled to receive the deposit back once they leave the property.
The best way to prevent residential lease disputes is to draft sound contracts. This way, all parties know exactly where they stand. If you are in the middle of a dispute, it’s important to seek legal guidance so that you can find the best possible solution.