I’m going to start this post with a few questions for you.
- Do you know and fully understand the Federal Fair Housing Act?
- Do you know our state’s Fair Housing laws?
- Do you know our state’s landlord-tenant laws?
- Do you have an expert attorney that will help protect you from litigation?
- Do you know what questions you should avoid when interviewing an applicant?
- Do you know what verbiage you should avoid when marketing a vacancy?
- Do you know how to respond when a tenant or prospective tenant asks for an accommodation?
Unless you’ve spent some time in real estate or property management classes, or you are an attorney, I am guessing you find these questions a little overwhelming…
However, rental property owners and investors are liable for the consequences of not knowing the answers to these questions.
Our team at Capital Street Management can answer these questions because we specialize in managing landlord-tenant relationships. We know the laws and know how to assess and interpret unusual circumstances. When you hire Capital Street Management to manage your rental portfolio, you’re hiring all of this expertise. We are able to take care of most legally sensitive situations for you and can counsel you about the ones that require your involvement.
Whoever manages your property must know and respect the laws that govern our industry. Make sure you drill your potential property management candidates: check their background and experience, ask about past litigation involving tenants, and make sure you are 100% satisfied with their responses. In fact, you should ask Us about OUR track record the next time we talk.
Lawsuits arising from negligence are a headache you don’t want to experience. They can become time-consuming and expensive. All of these consequences detract from your investing experience and the profitability of your venture.
Let’s work together to make your profit margins explode and your headaches disappear!