If you own a rental property, congratulations! More Americans than ever are choosing to rent, so investing in a rental property and becoming a landlord is an excellent investment in the current housing market. Unfortunately, being a landlord is not as simple as throwing a “for rent” sign on your home and collecting rent.
If you are considering becoming a landlord, you must memorize and thoroughly understand the large number of laws protecting the rights of tenants about housing and property management in Francisville. The following are just three of the many classes of regulations and protections that every landlord must know to operate within the law.
- Anti-discrimination laws. When you rent out your own property, the search for the perfect tenant can seem difficult. You want to find the perfect renters that will pay their bills on time and leave your property in perfect condition. However, your desire to fill your space with the best tenants does not allow you to discriminate based on protected classes. You may not refuse to rent to an applicant based on their sex, race, color, national origin, veteran status, accessibility or functional needs or familial status.
- Right to privacy laws. Even though you own your rental property, you forfeit a large number of rights to the space as soon as you sign a lease with a tenant. Tenants have the “right to privacy,” meaning that you cannot just visit or “drop by” without adequate warning at least 24 hours in advance. The only exception to this law is in the event of an emergency or when the landlord expects that the tenant may be in immediate danger inside the unit.
- Tenant eviction laws. Just like you are not allowed to show up at your property without notice, you cannot demand that a tenant move out without notice and reasonable cause. You must serve an eviction notice at least 30 days in advance to give the tenant time to find a new place to live, and you must serve a written notice informing the tenant why they are being evicted (unpaid rent, illegal activity, severe damage to property, etc.).
Operating as a landlord is difficult; our property management company in Francisville can make renting your property simple. Give our team at MK Management Group a call today at 215-664-7824 to learn more!