Being a landlord in Virginia and elsewhere is a difficult job. This position typically involves maintaining the landscape surrounding the property, ensuring that any problems that arise inside the property are repaired as needed, dealing with complaints from tenants and more. In some cases, tenants may not be the best or the other issues with the property could come about that have the landlord considering ending a lease early. However, it is important that landlords account for that possibility in the lease agreement.
This agreement can include important information about what is expected of tenants and the landlord. The document can include the rent amount, when rent is due, whether pets are allowed, when the landlord might make visits to the property and, possibly, reasons for ending the lease early. The reasons for wanting to end a lease early are many, including, for example, lack of rent payment from the tenant or wanting to sell the property.
Because it can be difficult to anticipate what will happen in the future, some landlords may not want to opt for long-term leases. Instead, they could find it more to their benefit to use a month-to-month lease agreement that presents an easier way to end a lease if needed. Typically, the landlord or the tenant could end the lease with an appropriate amount of notice, which could range from 30 to 90 days depending on state law. If neither party wishes to terminate the lease, it automatically renews each month.
A lease agreement can help protect landlords and their rental options, but it is essential that those agreements are created correctly. If a lease does not have an early termination clause or does not account for possible reasons for eviction, a landlord could end up in a difficult predicament if he or she wants to stop renting the property. Fortunately, Virginia landlords could work with knowledgeable real estate attorneys who could help them create agreements that include vital information in accordance with state law.
