Property investment in Detroit can be a promising venture, but maximizing property value entails more than just aesthetic upgrades and routine maintenance. Legal considerations play a critical role in determining a property’s worth. Here are a few key legal tips to help Detroit landlords increase their property value. Compliance with Building Codes and Regulations Firstly,… Read more »
As a landlord, you might have considered offer short-term rentals. With the rise of platforms like Airbnb and VRBO, many property owners are seeing the potential for increased revenue and flexibility. However, it’s important to weigh the benefits and drawbacks before jumping in. The Advantages of Short-Term Rentals Diversified Income Stream One of the main… Read more »
On December 12, 2022, co-lead counsel Aaron D. Cox and the Law Offices of Aaron D. Cox, PLLC – along with co-counsel Mark Wasvary, David Shea, Ashley Shea, Philip Ellison, and Matthew Gronda — received final judgment from a federal court judge in Detroit, Michigan approving a class action settlement of $38,000,000 on behalf of… Read more »
When one of your apartments becomes available, you’ll need to make sure that the next tenant is reliable and responsible. Screening prospective tenants is a crucial part of this process. Nevertheless, it isn’t foolproof. If you don’t properly screen your prospective tenant, you would wind up with problems further down the line. Below are a… Read more »
Working with tenants who refuse to pay you or make a mess of your property and skip town can be extremely frustrating for property owners – not to mention expensive. But if you have qualified property management attorneys by your side, you can recoup some of your losses in the future. Here’s how: You can… Read more »
When a tenant moves out of your property, you want to ensure that your property is still in proper shape when they leave. As such, a tenant has certain responsibilities they have to take care of before they leave the premises. While all these responsibilities should be detailed in the lease, here is what a… Read more »
A partial rent payment occurs when one of your tenants pays only a portion of their monthly rent. So, for example, of a tenant’s rent is $1200 a month, but they only pay you $800, this would be a partial rent payment. While a tenant should be able to pay their full rent each month,… Read more »
Just about anyone who has rented or leased a property is familiar with the concept of a security deposit. What exactly is the purpose of this deposit and when is a tenant entitled to have it returned when they move out? We’re here to go over the basics to help you out. The uses of… Read more »
If you are buying or selling property in the state of Michigan, you can essentially cut out the middle man by handling the sale through a land contract. In such a sale, the seller sets up an installment plan though a contract with the buyer that states the price in addition to how the taxes,… Read more »
A month-to-month lease is exactly as it sounds—it renews every 30 days (or every month) until the tenant gives notice. However, landlords can also end a month-to-month tenancy. Here’s how: You might need a reason In most cases, a landlord can end a month-to-month tenancy without reason. However, in government subsidized housing or in mobile… Read more »
