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HOW IT WORKS
How it works
Whether you're a lender, tenant or landlord, you can use a Landlord's Waiver to enable a lender to legally enter rented property to access collateral. Landlords can use it to waive their own rights to a tenant's property. Tenants might use it to let lenders access to personal property. Regardless of the situation, a Landlord's Waiver can help limit liability for all involved parties.
There are a few reasons you might need a Landlord's Waiver. If the tenant doesn't make good on a loan, and has used property as collateral, the lender needs access to it. However, no one can enter the rental home without permission. The lender needs to get a waiver from the landlord. On the other hand, landlords also need to limit their liability, and make sure that entry into the property is lawful. If a tenant's personal items are on the rental property, the landlord might have to waive his or her own rights to help them secure a loan. A lender can't remove a tenant's property for collateral without a waiver. The definition of property can get be unclear with renting, so a Landlord's Waiver can help limit liability for everyone involved.
Other names for this document: Landlord Lien Waiver, Landlord Waiver and Consent, Landlord Waiver Agreement
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