What Is An Estoppel Certificate? If you are a landlord planning to refinance or sell your rental property and have an existing tenant, you may be required to ask them for a signed tenant estoppel certificate that you can show the buyer or investor. Estoppel certificates are an important document needed by a buyer or lender so they can have a clear understanding of what is in the lease when acquiring the property. Buyers and lenders need to be familiar with the lease so they can smoothly take over the operations and take care of the existing ten…
Massachusetts Security Deposit Laws
Are you a landlord and require your Massachusetts tenants to pay a security deposit? If you do, you must abide by the Massachusetts security deposit law, specifically Gen L Chap186 § 15b. The chapter contains a set of rules that landlords must abide by in the collection and return of tenants’ security deposits in Massachusetts. The security deposit belongs to the tenant. Failure to abide by this law, for example, by wrongfully withholding your tenant’s deposit, can have a myriad of financial and legal repercussions. Landlords must be well vers…
Massachusetts Rental Laws - An Overview of Landlord Tenant Rights
If you are a Massachusetts landlord, knowing and understanding the landlord-tenant laws is essential. This knowledge can help landlords perform your duties and responsibilities more efficiently, as well as handle any legal issues. Required Landlord Disclosures in Massachusetts Here are the following disclosures that property owners must make in their lease or rental agreement prior to leasing their rental property to a tenant: Nonrefundable Fees There is no statute about nonrefundable fees in the landlord-tenant law in Massachusetts. However, i…
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