Rental units will always be in demand. Buying a home isn’t right for many people for various reasons, so there will always be tenants available to rent a space temporarily. Due to the consistent amount of people who chose to rent instead of buy, multi-unit developments are a great real estate investment that can generate cash flow and a passive income. Maybe you’re only just getting started with something small, like a duplex, or you’re an experienced landlord looking to take on a larger complex. Whatever scale project you’re looking to take on, you’ll need legal assistance to protect yourself and your investment. A multi-unit development can come with many legal obstacles, but you can help mitigate your risk by working with an experienced real estate attorney.
At Tressler & Associates, we know what great investment opportunities multi-unit developments can be. We want you to get the most out of this addition to your portfolio and help you handle the legalities involved in this process. Learn more about how our real estate law services can benefit you.
The purchase and sale agreement will be one of the first steps you’ll need to take to get started with your multi-unit development. Even a small multi-unit building is a big financial investment, so you want to be very cautious when it comes to the purchase and sale agreement in this transaction. This is also important even if you’re buying a piece of vacant land to build on. To ensure the transaction is in your best interest, you need a real estate attorney to review it and negotiate on your behalf. You want to feel confident in the price and other details in the transaction, and Tressler & Associates can help you get the purchase and sale agreement you need.
You need to ensure that your multi-unit development project is up to standard. After all the time and work you’ve put into this investment, you don’t want to discover that your plans violate local zoning laws or may become a safety hazard. Depending on the scope of your project, there will likely be many zoning laws you’ll need to adhere to and permits you’ll need to obtain. This is not an area where you can afford any issues, and a real estate attorney will help prevent any from occurring and delaying or ruining your project.
A lease is a legally binding contract between you and your tenants, so you want to ensure you aren’t taking any chances and have a lease that protects you as much as it can. You might think you can utilize online resources or look it over carefully enough on your own, but this can put you at risk. The only way to ensure your leases are worded correctly and have the property terms and conditions that will be enforceable is by having a real estate attorney draft them. This will help you prevent any issues from occurring due to a poorly constructed leasing agreement.
Not only can developing a multi-unit building be complicated but being a landlord has its challenges as well. While clashing with tenants may sometimes be unavoidable, you can prepare yourself for any complications by having a real estate attorney on your side to help you navigate them. At Tressler & Associates, we can help you through many of the issues that may occur while managing a multi-unit building.
Multi-unit developments are great investments, but they require the oversight of an experienced real estate lawyer. Tressler & Associates can help you through the legal concerns of taking on a multi-unit development project to help ensure everything is being taken care of properly. Our real estate law firm has years of experience helping clients through a wide range of situations and will be ready to provide whatever help you need with your real estate project.
Contact Tressler & Associates today to learn more about how our Tennessee real estate attorneys can help you through your multi-unit development project.
If you are in need of legal services, our team of experienced attorneys is here to help! If you need a lawyer now or are just in need of general counsel, we are happy to discuss your needs with you.