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4 Investment Property Legalities All Landlords Must Know


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As you know, being a long term investment property manager has lots of landlord responsibilities and legalities associated with it.  Although many landlord tenant laws vary from state to state, there are definitely some commonalities no matter where you are located.  You are generally required to treat your tenants in a certain way and to maintain the property in an acceptable condition.  As such, there are a handful of laws that all landlords must be cognizant of.

For example, you must not discriminate against your tenants, and as such you must take special precautions to treat all of your tenants equally.  This means, for example, charging all of your tenants a late fee when they are behind on their rent, not just the tenants you don’t like.  And do not refuse to rent to people who have kids or disabilities, and use the same rental applications and tenancy agreements for everyone.

Second, always remember that the apartment lease is a legal contract between you and the tenant.  The lease grants you the right to collect rent from the tenant for occupying the premises for a set period of time, but make sure you do not violate any terms of the lease.  Otherwise, your ability to retain your rights could be put in jeopardy.

Third, your tenants must be provided with certain amenities such as heat and running water, and the property must be structurally safe and up to code.  Every municipality in the US mandates basic living condition standards, so make sure your property provides these basic things.

Fourth, you must never take it into your own hands to remove a tenant.  All states mandate rules of eviction, and there is never a case where a landlord can simply lock tenants out without first going through the local court system.  This goes for other tactics too, such as shutting off the utilities or terrorizing the tenants.  The bottom line is to never take these matters into your own hands.

In the final analysis, you are ultimately responsible for playing by the rules, so make sure you know what they are for your state.  Follow them as best as you can, and never take the law into your own hands.  Follow this advice and you will be just fine!



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