Lawyers love the average realtor lease. Most of these leases are full of holes—holes lawyers like to exploit. Those holes can allow them to sue property owners left andright leaving you to pay for someone else’s mistakes. I learned to include a BindingArbitration Clause from the best teacher around: experience. I saw firsthand to whatlengths some people will go to legally extort money from property owners.Many years ago, I had a lease that did not have this precious arbitration clause.Without it, I was left unprotected and ended up getting sued by a phony civil rights’organization on a completely bogus discrimination suit. I was left with no recourse butto force these people to try to actually prove their case in court. In the midst of all that,my lawyers settled the case without my knowledge in a completely unethical and illegalact of betrayal against me. And they got away with it.If I had had a Binding Arbitration Clause, none of that would have happened.That suit never would have been filed as it would not have been permitted in court.Additionally, once an unethical lawyer from the firm of Dewey, Cheatem and Howe sawthat clause, chances are they would back off. If they cannot scare the property owner intosettlement or bring him into a war of attritrion with the cost of court fees, legal fees andappeals, there is nothing for them to gain. The actual cost of arbitration is a lot less thangoing to court. It usually ends with a serious person sitting on the other side of the tableplaying Judge, Jury and Executioner all at once. Makes that binding arbitration clausesound pretty good, doesn’t it?I should mention that the lease available here for you to download does not coverMental Anguish. The lease that I use on a daily basis does cover Mental Anguish—alongwith any other thing a judge bent on social justice may decide to cite in order to punish aproperty owner.In any case, I had this Mental Anguish Clause added to my lease in 1995. Sincethen, I have only been sued for Mental Anguish once, in 2011. Now that little clause is inthere and I am certain that even the U.S. Supreme Court cannot bypass it.

New Orleans Property Management