Owning a rental property can be a fantastic investment, providing a regular stream of mostly passive income and assets that may appreciate over time. However, renting your property comes with inherent risks, which is why state and local laws provide landlords with legal rights to protect both their financial security and the value of their investments. However, your tenants have protections of their own, so it’s important to seek legal advice before enforcing one of those rights.
3 Legal Rights of Landlords
1. The Right to Evict
If your tenant fails to pay rent, creates a safety hazard, or otherwise violates the terms of the lease, you have the right to evict them from the property. In Kentucky, landlords typically must give tenants 30 days to vacate the premises unless your lease states otherwise. Failing to follow the proper procedure can expose you to lawsuits and financial penalties, so always seek legal advice before acting against a tenant.
2. The Right to Enter
Landlords may occasionally need to enter the property to make repairs, address emergencies, or conduct routine inspections. In Kentucky, landlords must give tenants proper notice that they intend to enter, after which you have the right to let yourself in unless your lease states otherwise.
3. The Right to Collect
Property owners have the right to collect past due rent balances, even if the tenant has already left or been evicted from the property. In most cases, property owners may file a civil suit to collect unpaid rent, fees, and the costs of damages to the building.
Whether you’re involved in a conflict with a tenant or drafting a lease, turn to Jeremy L. Clark Attorney at Law for the in-depth legal advice and comprehensive services you need. This Catlettsburg law firm has built a reputation in Boyd County for affordability, quality service, and expertise in a broad array of situations. Visit their website now for more on their real estate services, and call (606) 739-6774 for sound legal advice today.