Provident Law®

Recently, one of Provident Law's clients was solicited by a rental arbitrage company to lease their property to them to manage as a short-term rental. Provident Law's client, seeing the potential for the convenience, agreed to this arrangement. Shortly after the arbitrage company began to operate, the HOA approached Provident Law's client notifying them that short term rentals are not permitted under the community's CC&R which had recently amended to restrict short term rentals.   The owner attempted to work with the arbitrage company to terminate the lease agreement, but rather than being reasonable, the arbitrage company stopped paying rent to the owner and continued to conduct rentals on the property which forced Provident Law's client to retake possession of the property by changing the locks.   See the full story below to see how Provident Law's attorneys Christopher Charles and Tyler Stine leveraged their legal experience to secure the dismissal the claims filed against their client and recovered an award of their attorney's fees and costs against the opposing party. #rental #realestate #arizonarealestate #realestatelaw #lawyer #realestateattorney #attorney #businesslaw #law #arizonalawyer

Jeff Bezos Made headlines last year when he paid $68 million for a 2.8 acre property in Miami's Indian Creek Village, then bought the roughly 19,000-square-foot house next door for $79 million a few months later. This year, he stunned the city by adding a third property on the island for $90 million.   Now, Bezos' Indian Creek homes are in the news again as his second purchase comes under scrutiny. The seller of the $79 million home is suing the real-estate brokerage that handled both sides of the transaction, claiming the company misled him about the identity of the buyer and cost him $6 million in the process. Read the full story below. 

Church leaders often explore creative ways to increase and steward resources to support their church's ministry activities. One of the common ways that churches bring in additional income is through renting out their property to others. If done right, this could be a viable option for a church.   However, there are serious legal and practical issues to consider before doing so. One of those legal issues to consider is whether renting out your church-owned property could jeopardize your church's tax-exempt status. When a church rents out its property, that income could be deemed taxable unrelated business income (UBI) by the IRS. Too much unrelated business income could jeopardize a church's automatic tax-exempt status. Looking to learn more about the impact that renting out your Church Space could have on your UBI status? Read the full article below! #realestate #arizonarealestate #arizona #business #attorney #realestatelaw #realestateattorney #lawyer #homebuyer #property #nonprofit #church #arizonachurches #irs #income #ministry

Consumers currently have their attention focused on the anticipated interest rate cut by the Federal Reserve, but without action from Congress, there could be an upcoming change that presents another challenge to buy or sell homes in some areas.   The National Flood Insurance Program, which is the largest flood insurer in the United States, needs to be reauthorized by September 30th to continue to issue new policies or increase coverage on existing policies. If the program experiences a lapse in its authority, it will not be able to reissue new policies creating a difficult situation for home seekers searching for flood insurance.   Previously, when the program lapsed from May 31 until July 2 in 2010, 6% of real estate agents reported a delayed or canceled sale, which affected an estimated amount of 40,000 closings. Looking to learn more? See the full article, linked below.  #FederalReserve #realestate #arizonarealestate #arizona #business #attorney #realestatelaw #realestateattorney #lawyer #homebuyer #property #congress #flood #insurance

On Friday the DOJ filed a lawsuit against a rental software company that offers AI as a tool for landlords to use in assessing rental market prices as they determine what to charge renters. The suit alleges that RealPage violated antitrust law by contracting with, "competing landlords who agree to share with RealPage nonpublic, competitively sensitive information about their apartment rental rates and other lease terms to train and run RealPage's algorithmic software."   RealPage has denied those allegations, stating that its software advises landlords about whether they should set rent for a given unit higher or lower. Read the full story below. #DOJ #realestate #arizonarealestate #arizona #business #attorney #realestateagent #AI #lawyer #realestateattorney #rentprices #apartment #rental #property #law

Exciting news! Provident Law's Managing Partner Christopher Charles has been hired to author the Arizona Real Estate Law Book. This scholarly real estate book will serve as valuable research for all real estate practitioners. Currently, the book is scheduled for publication in the Fall of 2025. We would love to hear from you! If you or someone you know has a request or suggestion for the upcoming publication, email us at social@providentlawyers.com. #realestate #arizonarealestate #arizona #business #attorney #realestateagent #lawyer #realestatelaw #LexisNexis #HOA #fraud #shorttermrental #rental #property #law

Following our previous article in May there has been headway in the FTC's recent ruling that prohibits employers from entering into or attempting to enforce non-compete agreements, which is set to take effect on September 4, 2024.    Clashing views from two courts are causing confusion as opinions are split as to whether the FTC exceeded its statutory authority. Given the current federal district split, the United States Supreme Court may need to sort this out to bring clarity to the American workplace. Kyle McCutcheon breaks down the recent rulings in his article, "Courts are Split Over Ban on Non-Compete Agreements," linked below! #business #management #propertyinvestment #property #arizonarealestate #luxuryliving #arizona #realestateattorney #lawyer #businesslaw #FTC #UnitedStates #noncompete #contract

Some of the most difficult quagmires that litigators face are ones born out of their client's failures to abide by, or take seriously, obligations under the rules of civil procedures or court orders. These failures cannot only slow down efforts to move the case towards resolution, it can also have dire consequences on the outcome of the matter. In his article, "Court Appeals Ruling Affirms Harsh Consequences for Failure to Abide by the Rules" Aaron Lumpkin breaks down the ruling in Smith v Olsen that resulted in a seven-figure judgment illustrating the drastic results from failure to abide by these procedures. Read the full story below! #business #management #BreakingNews #Scottsdale #attorney #contract #noncompete #arizonalawyer #businesslaw #phoenixliving #FederalTradeCommission #lawsuit #businessowner #court

The recent drop in property value caused by higher interest rates and a rise in defaults is assisting U.S. prosecutors in exposing commercial property fraud. In the article below, Konrad Putzier provides his insight on property fraud allegations and what prosecutors are doing to combat it. #fraud #attorney #commercialrealestate #realestate #phoenixattorney #attorney #businesslaw #contract #business

With non-compete clauses no longer an option, employers may need to explore alternative strategies to protect intellectual property, proprietary information, and business relationships. Kyle McCutcheon provides an in-depth overview on the FTCs ruling to Ban Non-Compete Clauses in his video, linked below! #business #management #FTC #BreakingNews #Lawyer #Scottsdale #attorney #contract #noncompete #arizonalawyer #businesslaw #phoenixliving #FederalTradeCommission #lawsuit #businessowner