Real Estate Leases– At a Glance

Charleston Real Estate Leases | Charleston Real Estate Lease AgreementsReal estate leases are an essential real estate document that outline the legal relationship between a landlord and the persons renting out the landlord’s property, known as the tenants. In general, the primary objective of real estate leases is to provide the tenants with temporary property, either residential real estate or commercial real estate, and to supply the landlord with stable income through monthly rent. If the tenants are seeking the property for residential purposes, then the tenant and landlord will establish a residential lease agreement. Otherwise, the tenant and landlord will create a commercial lease agreement if the property is for primarily nonresidential purposes.

Advantages for the Tenant

One of the most important advantages to a proper real estate lease for a tenant is clear guidelines for the policies and payment plans of rent. The landlord has the authority to raise rent rates and alter the schedule of payments unless there are provisions against such actions in the lease. Real estate leases can also require the landlord to notify the tenants prior to rent changes and provide receipts for any necessary payments.

Another important benefit to clear real estate leases can be observed in added safety and security measures. Some real estate leases will require the tenant to schedule regular inspections for pest control, water damage and electrical issues, while others may place the cost upon the tenants. A real estate lease can also protect tenants from being evicted without notice so that a tenant does not have to make new and sudden living arrangements.

A real estate lease agreement can be a difficult document to change or alter at a later date once already constructed. Our Charleston real estate attorney provide legal counsel to tenants and landlords before entering these binding agreement to protect our clients' interests with each provision of the real estate lease. Our real estate litigation lawyers can also defend the interests of tenants or landlords who believe that their legal rights in the lease were ignored or violated.

Advantages for the Landlord

Lease agreements can protect the interest of landlords most notably through the declaration of clear building codes. A landlord can create a safe living or working space by enforcing occupancy codes, noise ordinances and parking policies. A landlord can also remove the individual responsibility to pay for property taxes, insurance and even maintenance costs through a smart real estate lease. Lease agreements can also be useful tools to prevent against frequent or sudden tenant vacancies so that a landlord can maximize the financial potential of a complex.