Negotiating a lease can help create a healthier relationship between landlords and tenants. A Bloomington residential lease negotiation lawyer could work to promote a party’s interests during lease negotiations. A skilled real estate attorney can work to identify a party’s goals and to pinpoint areas of flexibility. Ideally, engaging in these negotiations can create mutually beneficial contracts that help both landlords and tenants.
What Terms are Open to Negotiation?
In general, parties to a residential lease can agree to whatever terms they wish. Common examples of essential topics in these leases include:
- The price of rent
- The length of the tenancy
- Which parties will pay for utilities
- The security deposit amount
- Policies regarding pets
Courts are generally hesitant to interfere with the rights of parties to enter into contracts. However, a key exception is when a term of a contract violates the law. For example, Minnesota Statute §504B.178(8) states that no tenant can withhold rent on the grounds that a security deposit should cover that payment. If a lease has a clause stating otherwise, it cannot be enforced.
Making Sure a Bloomington Residential Lease Is Fair
Every party enters a residential lease negotiation with their own goals. It is essential to remember that a residential lease only applies to the contractual relationship between the landlord and an individual tenant. As a result, making a concession to a tenant who has a specific need does nothing to change the relationship with other residents.
Most tenants will evaluate their lease without the help of a lawyer and may try to negotiate for new terms on the day of signing. It is vital that landlords refrain from entering the contact at this time. If a landlord or an authorized representative signs the contract, that is the final version of the lease. Further, if a tenant believes the terms of the lease are unfair, it is important that they try to negotiate prior to signing.
It is important to note that, once the parties sign, the lease becomes binding and the parties must adhere to the terms. Therefore, it is important to consult a Bloomington residential lease negotiation lawyer if there any issues in the document.
Reach Out to a Bloomington Residential Lease Negotiations Attorney
Lease negotiations can allow both landlords and tenant to enter a contract they feel more comfortable with. They also offer a chance for each party to make sure they are entering an agreement that is fair. It is important to negotiate the terms prior to signing the agreement. Once the parties sign, it becomes a binding contract and the parties must follow the terms.
A Bloomington resident lease negotiations attorney can work with you to make sure a contract is fair before you sign it. They can examine the terms of the agreement to find areas that may be open to negotiation. An attorney can also advocate on your behalf to work towards a lease that better suits your needs. To discuss your situation, call today for a consultation.