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.