Property management in Los Angeles can be tricky, especially for people who own multiple properties across the city. Real estate lawyers in Los Angeles have seen their fair share of common real estate issues, but these three situations are probably the most concerning ones, enough so that legal representation is necessary.
Common Real Estate Issues: Faulty Contracts
When it comes to the most common property management issue in Los Angeles, it has to be defective, faulty, or disputable contracts that favor one side over the other (usually the party that drafted the contract in the first place). Without a real estate lawyer, a layman might gloss over a contract that was written in bad faith and think that it’s all fine and well, when in reality, signing a contract like that would put them at a severe disadvantage because they’re unaware of property management laws in LA.
That being said, a lot of these faulty contract, while disputable and in bad faith, weren’t exactly written with malicious intent. Often, it’s because the other party just wants to have advantage over the other. Of course, this doesn’t rule out malicious parties that do write contracts in bad faith specifically to rip people off. But that’s why you have a real estate lawyer to help you spot these bad actors.
Amending a faulty contract is almost-always easier than getting out of one. A good real estate lawyer will be able to spot a bad contract from a mile away and be able to amend it to make it fairer and just for both parties. This may not be possible with a layman, who most likely isn’t trained for that sort of thing.
Common Real Estate Issues: Misrepresented Properties
Property management in Los Angeles involves buying new properties to add to your portfolio. However, sometimes some properties will be misrepresented, i.e. the property seller will either be inaccurate about their description of the property, either exaggerating or leaving out certain details.
This can be tricky because, unlike faulty contracts, properties that have been misrepresented can be hard to spot. More often than not, these misrepresentations are neither intentional nor malicious. Often, they are the result of aggressive marketing tactics or shady advertising practices, which means that these representations will often lay in the grey areas of legality.
That being said, a property management expert, i.e. a real estate lawyer, will be able to see through these misrepresentations during inspection and be able to spot code violations, environmental issues, or boundary problems from the get-go. Often, the real estate lawyer can help renegotiate the contract of sale or have seller disclosure forms that will compel sellers to be forthright about any misrepresentations in their property.
Finding and fixing these misrepresentations are crucial because, once the contract is signed and ownership is transferred to you, it makes you completely liable for any and all accidents that may occur in your property.
Common Real Estate Issues: Tenant Conflicts
Finally, tenant conflicts are often unavoidable for landlords, especially if you’re handling multiple properties across the city. In fact, this is to be expected for any type of property management in LA. More often than not, these tenant conflicts are fairly simple: overdue rent, necessary repairs, and so on and so forth. In fact, a big majority of tenant conflicts can be fixed with easy conversation and respectful banter.
However, there does come a time when tenant conflicts can escalate, leading to legal representatives being brought out by both sides. In this case, having an expert real estate lawyer on your side will be to your best interest. Especially after the pandemic of 2020, the Federal government enacted multiple laws that protected renters from unfair evictions. This was done to ensure that certain groups of people will always have a home despite the pandemic. Of course, these rights are to be celebrated, but in rare instances, some people chose to abuse these rights and have tried to take advantage of their landlords.
However, legal and financial protections were also offered to landlords and property owners. Sometimes, these protections can clash with renters rights, and in tricky situations like that, only a real property management lawyer can help you come out on top.
Fix Your Real Estate Issues With Real Estate Experts
The Law Office of R. Grace Rodriguez is one of the finest real estate lawyers in Los Angeles. We have decades of experience under our belt and an expertise in all things property management. Contact us, today, and we’ll help you solve your real estate issues and property management problems.