Most rental property owners worry about protecting their investment. From physical damage to the property to insurance claims to lawsuits brought by tenants, there are myriad ways that you can lose money. Fortunately, minimizing risks in a rental business doesn't require a ton of money or a staff of experts.
Questions How can landlords minimize financial losses related to repairs and maintenance? How can insurance help protect a rental property business? When is a landlord liable for an injury to a tenant or visitor to the rental property? How can landlords minimize financial losses related to repairs and
You've probably heard rental property owners refer to their lawyers as if these professionals were but a phone call -- or a shout -- away. But unless you own or manage many rental properties, you're not likely to have a lawyer on staff or even "on retainer" (where you pay a lawyer in advance to handle routine questions and issues). Fortunately, you shouldn't need to constantly consult a lawyer or even keep one in the wings, "just in case." You do have to be able to recognize those situations when expert help is needed -- even if it's just for some advice and coaching.
Questions Are there any rental properties exempt from Title X lead disclosure regulations? Are any lead disclosures required before a landlord renovates rental property? What are a landlord's legal responsibilities to new tenants regarding lead in rental property? Are there any rental properties exempt
Mold is an environmental hazard that causes concern among renters. Across the country, tenants have won multimillion-dollar cases against landlords for significant health problems -- such as rashes, chronic fatigue, nausea, cognitive losses, hemorrhaging, and asthma -- allegedly caused by exposure to "toxic molds" in their building. If you suspect there is mold in your rental, learn about your landlord's potential liability and how to prevent or clean up mold before it becomes a problem.
Landlords in most states have some degree of legal responsibility to protect their tenants from crime. The best way that landlords can avoid liability for losses from crime is to prevent criminal acts in the first place. These tips will help you do just that, and most don’t cost a lot of money. And
The security of your rental property depends in large part on the locks on rental unit doors and the keys to those doors. Here are “key” ways to minimize security problems in rental units and premises. Contact local locksmiths and security firms, for specific advice and options on key control in
Questions How can a landlord limit responsibility for crime committed by strangers on the rental property? What kind of legal trouble do landlords face from tenants who deal drugs on the property? How can a property owner avoid liability because of tenants who deal drugs or otherwise break the law? What
One of the reasons landlords are reluctant to rent to tenants with dogs is fear that if the dog injures someone, the landlord, as well as the dog's owner, may end up paying. It’s very rare, however, for a landlord to be found liable for injuries inflicted by a tenant's dog. Just leasing premises to