If there's one document in property management that simply has to reviewed (and updated as necessary) on a regular basis, it's your lease. This is, after all, the document that will ultimately determine your rights and protect your best interests when it comes to issues both big and small. Because you're dealing with a host of rules and regulations on the federal, state, and local levels, it's imperative that you not only adjust your lease as necessary when laws change, but also that you're in compliance and protected on all three fronts. If you're not proficient in legalese, chances are reviewing your lease (and, moreover, identifying those elements that need to be changed) is a daunting endeavor at best. Following are some tips and best practices for keeping your lease up-to-date and...
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