If you are a landlord and don’t think that you have a legal dartboard on your back, then you are setting yourself up to learn the hard way. Take one visit to a landlord group or real estate investor’s association meeting and try to find someone who has been in the business for at least 10 years, who hasn’t been threatened with a lawsuit, and I will be impressed.
There are lawyers and law firms whose sole purpose is to bring lawsuits against property owners, essentially ambulance chasers for the real estate world, and they are good at what they do.
The following is an advertisement that was sent to us by one of our clients (a landlord with several dozen properties in the Baltimore area), clearly demonstrating the success one law firm is having in their targeting of landlords (to the tune of at least one 6 million dollar judgement).
Don’t get me wrong, lead paint poisoning is a serious issue. One that can cause heartache and severe problems for those who are exposed and you need to make sure you are doing what is legal. But the descriptions on their checklist are so vague that almost all of us qualify. It is smart and good advertising on their parts, but what is good for them can be detrimental for you and can get you dragged into a long legal battle, regardless of if the accusations are true or not.
Being a landlord can be a great financial boon, but it can also become an incredible financial burden if you don’t take the steps to protect yourself. Learn what you can do by giving Legally Mine a call at 800-375-2453, or sending an email to info@legallymineusa.com
