Managing rental properties can often provide a stable income for those with the right know-how. Just be aware that the profession often comes with a number of legal responsibilities that can cause anxiety at times. There are numerous fair housing laws and tenant rights to consider. Add to the list the laws for handling tenant convictions. Property managers must always operate within legal boundaries.
For those property managers who choose to operate outside the law, there can be legal ramifications. Of course, there are laws that protect property managers as well. These laws can vary from state to state, and cover the responsibilities and rights of those who manage rental properties. Every property manager should be well informed on the following topics.
There are local, state, and federal laws that govern fair housing. These laws address discrimination concerning disability status, sex, religion, nationality, and race to name several. Companies that offer property management services usually maintain a staff of legal experts who can make sure all operations are in compliance.
A thorough knowledge of lease agreements can protect those who rent and those who manage properties. Property management companies also have the responsibility of making sure repairs take place on time and in a safe manner. They can also serve notices when needed.
The need for an eviction is often the last resort. However, when it becomes necessary property managers should be well-versed in following legal procedures. It’s critical that property managers issue lawful non-renewal and termination notices. There are laws that govern procedures on the local level, and they can vary by state. There are some tenants who simply refuse to leave a property. In this scenario, property managers can obtain a court order to evict a tenant.
A Tenant’s Legal Rights
Tenants do have their own rights when it comes to property management issues. Tenants have the right to rent in places that are safe to live in. Landlords have a responsibility to maintain properties in good condition. Tenants also have a right to privacy. Landlords can’t simply just enter a tenant’s residence without permission. Landlords or property managers cannot legally discriminate based on the person’s race, religion, or gender either. Tenants also have a right to due process before a conviction takes place.
The Rights of Property Managers
Property managers also possess rights. These rights include the right to collect rents, enforce lease agreements, and schedule repairs all while maintaining privacy for renters. In addition, property managers have the right to take legal action when tenants violate policy. Property management services can also add value to markets by lowering rental vacancies.
Property Management and Peace of Mind
Property management teams provide benefits for investors and tenants. Renters can count on the provision of safe living environments. Investors can enjoy an increase in property values along with a reduction in unit vacancies. This can lead to an improvement in profits over the long term. Keeping your unit updated can keep both you and your tenants happy.