Real estate law is an area of law that has seriously rebounded since the housing crash and is a solid career choice for people looking to work in the legal field. It’s an industry that is booming once again, and the real estate market will need skilled attorneys to manage it.
Managed Communities Are Becoming More Popular
More and more Americans are choosing to live in managed communities of some sort. Whether that is a condominium, apartment complex, townhomes or single family homes that are managed by a homeowners association, these housing arrangements all necessitate legal involvement. Tenant law in particular is very complicated and lawyers are frequently needed to defend landlords and tenants in disputes. As Baby Boomers retire and downsize into condominiums and Millennials live in apartments, these shared living arrangements where there is some kind of common ground that belongs to the community are only going to become more common. Many new single family home developments are being chartered as HOAs as well, and both associations and residents need the advice of real estate attorneys to avoid serious legal problems.
A Booming Housing Market
With the recession over, real estate markets are booming again in many areas of the country, and that means the demand and need for real estate lawyers is increasing as well. In some places, such as Philadelphia, the demand for real estate lawyers has outpaced supply, and firms cannot hire real estate lawyers capable of handling complex projects fast enough. This was because the housing collapse in 2008 and 2009 resulted in law firms needing to lay off real estate attorneys in particular, and in unprecedented numbers.
Real Estate Law Is Complicated And Potentially Costly
Real estate law is complicated, particularly because federal law, state law, local ordinances and the governing documents of a planned community all must be adhered to. Commercial real estate is entirely different from residential real estate, with lawyers needing to look into zoning and leasing laws, for example. And errors on the part of owners or tenants can be very, very expensive. An error such as putting up a fence in a way that violates city code can be very costly, as homeowners may be required to remove the fence and start over. Big additions and projects need to be legally compliant and done correctly the first time to avoid massive lawsuits and costly mistakes.
Thanks to the resurgence of demand for housing and the complex nature of real estate law, there is also an accompanying demand for real estate lawyers. Look to professionals, like those at Carter West, for career advice and internship opportunities to help you get started in your career. Based on the reasons mentioned above, this might be an area of law that would be a great choice for your career.
Author Bio: Emma Sturgis is a freelance writer living in Boston, MA. When not writing, she enjoys reading and indoor rock climbing. Find her on Google +