Legal

Today’s housing market is a bit of a seesaw. In 2022, the Federal Reserve hiked its benchmark interest rate six times. Higher interest rates mean loans are more expensive for consumers. But no matter what happens with inflation, people need a place to live. This is leading property owners to look for a means of disposable income. And sometimes the real estate investor may choose a property from another state.

Regardless of where a Realtor’s farming location is, having a Tenant Selection Criteria form evens the rental playing field for all. This uniform rundown is a documented checklist that Realtors can use when selecting, accepting and denying any prospective tenants.

Rental tours can be awkward if the current tenant still lives in the unit. Communication breakdowns can get messy and sour the deal if it's evident to the people interested in moving in that there is a lack of boundaries and respect.

When renters apply for housing, Realtors (and landlords) may have follow-up questions for their potential tenants. No matter how harmless they might seem, some of these questions can violate the National Association of REALTORS (NAR) Code of Ethics and even be prohibited under federal or local law. Here is a list of the questions Realtors cannot ask renters on applications.

There are quite a few Fair Housing Act (FHA) and anti-discriminatory rules that protect the senior population, which is why landlords should make it a point to be familiar with the law.

It only seems natural that property owners would also want to know a little more about the social reputation of the people who plan to live inside their properties. But is it legal for a landlord to snoop into a potential lessee's social media accounts? This article will explain the fragile line of the law.

Would it make sense for Realtors and landlords to become familiar with any or all of the local languages to be able to network with a larger rental audience? Probably. Being a multilingual real estate professional can certainly help to connect with a wider clientele.

Before a new tenant moves in, there are some topics on the lease that need to be explained—the cost for rent and security deposits, maintenance and repair roles, condition of the premises, and pet and smoking rules. These are rules that usually have minimal room for misinterpretation. But there’s one gray area on a lease that could become a sticking point for both tenants and landlords: quiet enjoyment.

In today’s political climate, there’s a taboo question that landlords may (or may not) dance around: Is this renter vaccinated from coronavirus disease 2019?

If you are a new landlord or tenant, you may have never heard of renters insurance. However, it is becoming a requirement for your tenants to obtain it.

Once a landlord gets a bad tenant, it can leave a long-lasting bitter taste in their mouths when renewals and new tenants come along. However, for legal reasons, landlords cannot just turn down tenants on a whim.