Episode 98: Avoiding Landlord Litigation with Corinne Rockoff
Summary
As a landlord, sometimes you don't know what you don't know. And what you don't know could get you into legal trouble..... On today's show, a long-time real estate attorney helps us navigate screening for the right contractor and using tools you may not realize you have, all to avoid litigation. Corinne Rockoff joins me to discuss all things dirt-related.
Listen to full episode :
About Our Guest
Financial Services and Real Property Litigation Group
This Week’s Blog Post:
Welcome to another insightful episode of My Life as a Landlord. I'm Dr. Jennifer Salisbury, and today we're delving into the crucial topic of avoiding litigation as a landlord. My guest, Corinne Rockoff, an experienced attorney from Michigan, joins us to share her expertise on navigating legal challenges in property management. Let's explore how you can protect yourself and your investments from potential legal pitfalls.
The Importance of Contractor Screening
One of the most common challenges landlords face is dealing with contractors. Corinne emphasizes the importance of ensuring that any contractor you hire is properly licensed, especially since licensing requirements can vary significantly by location. In areas where licensing isn't mandatory, it's crucial to conduct thorough background checks and communicate with your community to assess the contractor's reputation. Taking these steps can help prevent disputes and ensure that your projects are completed to your satisfaction.
Navigating Contractor Disputes
Even with the best screening, disputes with contractors can arise. Corinne advises landlords to focus on litigation prevention by maintaining clear and documented communication throughout a project. If a dispute does escalate, it's important to weigh the costs and benefits of pursuing legal action. Litigation can be time-consuming and emotionally draining, so consider whether the potential recovery is worth the investment of time and resources.
The Power of Title Insurance
Title insurance is an often-overlooked tool that can provide significant protection for property owners. Corinne shares a fascinating case involving a dispute over property lines, where title insurance played a key role in resolving the issue. This type of insurance can help cover legal fees and protect your interests in property disputes, making it an invaluable asset for landlords.
Future-Proofing Your Landlord Journey
To future-proof your landlord journey, it's essential to understand the tools and protections available to you. This includes knowing the terms of your contracts and leases, as well as ensuring you have a clear understanding of your responsibilities and rights. By being proactive and informed, you can navigate potential challenges more effectively and minimize the risk of litigation.
Final Thoughts on Avoiding Litigation
Avoiding litigation is about being prepared and informed. Corinne's insights highlight the importance of understanding your legal documents and the protections they offer. By taking the time to educate yourself and build strong relationships with contractors and other stakeholders, you can create a more secure and successful landlord experience.
Thank you for joining me in this episode of My Life as a Landlord. I hope Corinne's advice helps you navigate the complexities of property management with confidence. Stay tuned for our next episode, where we'll continue to explore strategies for successful property management. Until next time, keep learning and thriving in your landlord journey!