What You Need To Know When Caught In A Real Estate Dispute

Daren Brown
By Daren Brown | March 21, 2019
real_estate
The rental market can be as profitable as it is uncertain.  The roller coaster housing market is finally starting to recover, but in the space between booming and stabilizing, a strange phenomenon has been created.  This anomaly is called an accidental or unintentional landlord and it has spawned numerous heated real estate disputes nationwide.  Whether you are the seller, buyer or forced into becoming a landlord, you need to know what to do when caught in a real estate dispute.  We will look a little closer at how this development affects your rights as a property owner.

How did these Real Estate “Accidents” happen?

It is the natural evolution of a homeowner to eventually become a home seller.  Whether a job or a change in your personal situation prompts the sale of your home; it is usually your goal to sell the property and invest the proceeds from that sale into a new home.  During the recent nationwide housing crisis, that turnaround did not always go as planned.  There are still a fair amount of vacant properties sitting on the housing market for months on end.

For some homeowners, this continued loss of income means a choice between two things:

  1. Renting out their property and becoming a temporary landlord until the housing market recovers
  2. Foreclosing on their home and letting the bank take possession of the property

For obvious reasons, the majority of sellers choose the first option.  There is just one problem: they have never managed a property before.  Therefore, they don’t know what to expect or what to do when something goes wrong.

What should I Expect as a Renter?

As landlord rules go, the first one is to expect something to go wrong; this is a good rule to remember.  We are not here to rain on your property management parade, but we are here to tell you a few important things you should know before jumping in with both feet.

The first thing to understand is there are varying degrees of what can go wrong.  This could include:

  • Damage or maintenance issues with the property
  • Problems with the rent being paid on-time
  • Notices and eviction proceedings

If you are not expecting to have ongoing responsibilities once you rent out your property, it can be quite a shock when they start to engulf you.

The realization that a tenant will not treat your property as nicely as you-the owner-would is a tough, but truthful, pill to swallow.  This wake-up call means you need to know your rights as a landlord in the state of Texas.  As you may have guessed, these laws vary by state, but they also give you the right to seek legal assistance for real estate disputes involving:

  • Property damage
  • Late rental payments
  • Trespassing
  • Restitution of lost rent
  • Easements
  • Mechanic’s liens
  • Lease disputes
  • Valuation of title
  • Eviction processing

Whenever possible, get a licensed and certified property management company to act as landlord for your property.  When that is not possible, contact one of the attorneys at Stockard, Johnston, Brown & Netardus, P.C. in Amarillo, Texas to discuss your real estate dispute and your rights.  The skilled, experienced attorneys at law can help you avoid or resolve complicated real estate disputes.

 
SJB Law Firm
photo credit: Victor1558 via photopin cc

Topics: Real Estate