Tip of the Month - August 2010

MAKING THE RENT: Prepare for Costs of Compliance

Source: Real Estate by Laura Washington

The myriad federal and local laws governing rental units include the Fair Housing Act, which bans discrimination, as well as various local rent-control laws.  The most recent rental laws, though, are the numerous lead-paint regulations.  Since 1996, federal law has required that Landlords inform Tenants about lead-paint hazards, and some states and communities mandate that any apartment housing children under the age of six must be free of peeling or flaking paint.  Like many others, these laws can lead to expenses and lawsuits.

Still, that kind of risk sometimes goes with the territory for Landords.  And so does a continuous sense of obligation.

Tip from Crossett Real Estate Services
Locally, our housing stock is old and attention must be paid to evaluate a rental property indicating possible lead-paint red flags.
Windows that are painted shut/old doors-windows, moldings, chipped wood-work, railings, exterior trim, etc.  Take the time to really check out the exterior of the buildings for paint chips, old paint cans, old drums, or any containers or cans with pourus liquids on the property.

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This web page was updated on 07/28/2010.