Being a landlord comes with its fair share of risks because there are so many regulations to follow. Because of this, it is important to take certain steps to reduce exposure to liability and tenant conflicts.
Treating tenants fairly and minimizing your risks can help give you peace of mind as a landlord.
Make your property somewhere you would want to live
Chances are that you would not be willing to live in subpar conditions, and your tenants do not want to either. Be sure to fix unsafe conditions and make it a point to maintain your property. If a tenant calls you with a problem, respond as promptly as you can.
Safety is also a big issue when it comes to desirable living conditions. According to FindLaw, you may be held liable for crimes occurring on your property. Be sure to install safety features such as motion lights and even an alarm system if necessary.
Treat all tenants fairly
Laws exist to prevent housing discrimination and the authorities take them very seriously. Brush up on your knowledge of these laws to ensure that you do not cross over the line by accident. In general, do not deny housing to someone based on their gender, disability, race, religion or other protected status factors.
Whatever screening process you ultimately decide to use to determine tenancy requirements, be sure to use that same process for every single person. Exceptions can land you in hot water.
Accommodate disabled residents
Before you rent a property to anyone, make sure that it complies with the Americans with Disability Act’s requirements. If there are any additional improvements you can make to accommodate your resident, put the effort towards doing that.
Complying with all laws regarding fair housing requirements and putting in a little extra effort can go a long way towards avoiding tenant disputes.