Leasing terms and conditions, and tenancy laws and statues in Baltimore aren’t any different from those in force at other jurisdictions. In fact, a property owner familiar with how tenancy agreements, be they residential or commercial, work in one state, may easily (after some ramp-up time) navigate through tenant lease challenges in Baltimore. But not every property owner or investor has that level of familiarity. For them, dealing with tenancy leases is uncharted waters – that could spell potential legal problems when not handled correctly.
Counting on the expertise of an experienced Baltimore property management company may be the best way to deal with such situations.
Beware of the exceptions
A lease agreement is a legally binding contract between two or more parties. Typically, those parties are the property owner (or lessor) and the renter (or lessee). Most Baltimore renters sign lease agreements fully intending to see them through the full duration of the terms spelled out therein. However, there may be exceptions to that rule. And, when a tenant decides to break a lease, it may spell trouble for a property owner:
- Are the circumstances dealt with clearly in the agreement?
- How do you proceed in a way that’s fair and equitable to both parties?
- Will allowing the lessee to break the agreement open the property owner to future legal consequences?
- How does the early termination of the lease agreement impact the income or earning power of the owners?
Unfortunately, many newly-assumed property owners aren’t aware of the complexities that these exceptional circumstances pose for them. It may be the inexperience of owning and managing property that can cause such oversight. Alternately, it might also be ignorance of the rules and statutes governing property management in Baltimore MD that are to blame.
As a matter of fact, there are valid exceptions to allowing for early lease breaks. These may include, among a host of others:
- If the rental unit you offered isn’t legal under the law
- Tenants who are starting active military service during the course of their lease
- A lessee who may be a victim of sexual assault or domestic abuse
- If property owners (or their agents) harass a tenant or otherwise violate their privacy
- The property is deemed unsafe or is in violation of the Maryland Health and safety code
Other exceptions might well exist, that make it obligatory for property owners to allow early lease agreement termination. However, best practices in drafting lease agreements recommend that lessors cover such situations within the agreement, and not leave them to discussions upon receiving a request for early release from a lease.
Covering your legal bases
Unless you are extremely well-versed with tenancy laws, it is unadvised to consummate a legal relationship with would-be renters without proper legal advice. Typically, you may need to retain legal counsel experienced in such matters to protect your best interests. However, when you work with an experienced Baltimore property management company, such legal services are often part of their service offering. Not only will these professionals ensure your leases are “bullet proof” in the event of a challenge, but they’ll work diligently to make sure you receive expert guidance in various property rental situations, such as early lease terminations.