In a down real estate market, the cost of hiring an attorney for evicting a tenant may not be an affordable option. Many real estate investors don’t factor legal costs into the cost of the investment or doing business. Some investors who are unable to pay for legal services are doing what a lot of others with legal trouble are doing these days, they become their own lawyer. But is this a good idea?

Landlord/Tenant law is complicated and it changes. Using a legal service, while not cheap, at least assures you that the laws are being followed. If you are an investor and simply cannot afford to pay for legal services there may be a few options.

Contact your local legal aid office or find a discount legal assistance program. Depending on your legal situation this may be a more affordable option.

Another option that may also work is if you have to evict a tenant, pay them a small fee to leave. While it might not “feel right” to pay a tenant to have them leave, ultimately it will be a lot cheaper in the long run.

This entry was posted on Friday, November 20th, 2009 at 12:57 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.