As a landlord, you are responsible for various tasks and duties. From finding tenants to maintaining the property, there is a lot on your plate. For someone like you, it’s a must to ensure that you avoid making any dangerous legal mistakes along the way. If you do not take the time to learn about the law and how it applies to landlords, you could find yourself in some serious trouble. But you may be wondering what mistakes you should never make. Lucky for you, we’ve compiled some of the most common legal mistakes made by landlords and explained how to avoid them.
Failing to Get the Required Permits and Licenses
I know it’s obvious. But many people make this legal mistake. They fail to get the required permits and licenses. Depending on your state and municipality, there may be a variety of permits and licenses that you are required to have to operate your rental business. These can include things like a business license, a rental permit, or even a health permit.
You could be fined or even forced to shut down your business if you do not have the required permits and licenses. So make sure you research and get all the necessary permits and licenses before you start renting out your properties.
Skimping to Screen Tenants Properly
It can be tempting to try and save a few bucks by skimping on the tenant screening process. But this is a huge mistake, I said it. Remember, your tenants will be living on your property, and you want to ensure they are responsible and will take care of your property. That’s why it’s so important to screen tenants properly. This includes doing a background check, checking their credit score, and verifying their employment. You can avoid some major headaches down the road by taking the time to screen tenants properly.
Taking Advantage of Tenants
As a landlord, you have a lot of power over your tenants. But that doesn’t mean you should take advantage of them. Unfortunately, there are some landlords out there who do just that. They might try to charge their tenants illegal fees or rents above market value. Or they might make it difficult for their tenants to get repairs made on time. Taking advantage of tenants is not only wrong, but it’s also illegal. So make sure you treat your tenants fairly and give them the respect they deserve.
Neglecting the Dangerous Conditions Inside and Around the Rental Property
Another big mistake that landlords make is neglecting the dangerous conditions inside and around the rental property. This includes things like broken windows, loose railings, or even mold. Failing to address these dangerous conditions could open you up to a lawsuit if someone is injured on your property.
That said, ensure you regularly inspect your property and make any necessary repairs promptly. These are just some of the most common legal mistakes made by landlords. By taking the time to learn about the law and avoid these mistakes, you can help protect your business. But if you find yourself in legal trouble, make sure you seek out the help of an experienced attorney. They can help you navigate the legal process and protect your rights.
