Need to relocate but can’t sell the house? Maybe you know someone who loves the house, but can’t afford to buy it yet. If market conditions make it unfeasible to sell the property, but the cost of upkeep on a second home is breaking your budget, your best alternative might be to rent the property with or without the option to purchase. The money generated from your home can help offset expenses, and may lead to an eventual sale. The residential landlord/tenant relationship is heavily regulated in Michigan. Leases must be carefully drafted to comply with the law. If they are not, you risk a lawsuit from your tenant and may be prohibited from evicting your tenant and recouping your losses.

The skilled attorneys at Galloway and Collens, PLLC, can assist you through the legal process and negotiation involved and help to make sure you comply with all local, state, and federal laws. Attorney T. Scott Galloway has over 14 years of experience representing landlords and tenants in residential and commercial settings. He can help you develop a lease that protects your interests both now and in the future. Get out from under the cost of a second home.

Contact the attorneys at Galloway and Collens, PLLC, and turn your property into a cash producing asset.