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Tips for Landlords: Complying with Rules and Regulations:
When you own rental properties, your business 'partners' are the numerous government agencies that regulate the relationship between landlords and tenants, as well as between rental property owners and various government bodies.
First, you must establish whether the property you aim to rent, is permitted to be rented by the local governing authority. This is especially pertinent in condominium developments, that may have 'adult only' policies, a waiting period of two years before the unit may be rented, or a minimum unit of time the property may be rented (three months per year, one rental per year etc).
Secondly, you should visit the local government agency to determine if you need a rental license and fee and what the local rental rules are. For example, some local authorities forbid student rentals or preclude rentals to 'more than three unrelated adults'.
Third, many localities have inspection requirements and/or a list of required safety measures such as smoke detectors, carbon monoxide detectors, ground fault interrupters in bathrooms and kitchens, safety stair rails, trash disposal and recycling issues, heating vent requirements etc. Some communities require radon and lead inspections. Be sure to talk with the local building inspector, zoning board or public works authority to determine your regional mandates.
Complying with Landlord-Tenant Rules and Regulations
Landlord-Tenant relationships are governed by a number of federal, state and local agencies and begin with the tenant selection process.
The Fair Housing Act, (FHA) which had its origins in the Civil Rights Act of 1968, aims to prevent landlords and owners from unfairly discriminating against potential tenants. Specifically the FHA "prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability)."
Discrimination can begin with the advertisement for the rental unit, and therefore many newspapers and other advertising venues will not run ads that overtly or covertly, that try to discourage a particular group of tenants. If you do have a restricted community, ie an 'adults only' condominium, be sure that any exceptions are applied without bias and with written guidelines available to all. It is usually best to have your rental policies in writing, and to ask your advisor or accountant to check them for government compliance issues and completeness.
The information on RentalProperties.com is intended for informational purposes and not guaranteed. Please consult with an attorney or your own professional advisor regarding your specific situation.
