In last week’s blog, A Landlord, a Rental Property, & the Law (Part 1), we outlined the first 5 common legal mistakes landlords make. This week, we will finish that list, giving you legal mistakes 6-10. Remember, as a landlord, not only do you have to ensure your rental property is full, not only do you have to ensure your rental property is well maintained, not only do you have to manage rent collection and finances, but you also have to comply with extensive legal requirements.
10 Common Legal Mistakes Landlords Make (Part 2)
- Tenants have a Right to Privacy: Just because you own a home or multi-family housing unit, you do not have the right to violate your tenants’ privacy. You should never enter a rental property or rental unit without first giving your tenant a 24-hour notice, unless there is an emergency.
- Keeping the Security Deposit: Most lease agreements require a security deposit. This deposit is intended to cover any damages that occur to the rental property during a tenant’s occupation. You must, however, provide your tenant with an itemized list of deductions from the security deposit. Failing to do so or failing to pay a tenant the balance of the security deposit after repairs is illegal.
- Inappropriately getting rid of Abandoned Property: Abandoned property, while abandoned, requires certain actions. First, you MUST notify the tenant of the items left behind, the cost for storage, where to claim the property, and how long they have to claim the items.
- Inadequate Insurance: You not only need to insure your rental property against damage, but also legal action, including liability coverage.
- Eviction Rules: Evictions are tricky and every state has its own laws that regulate the eviction process. Do you know them? Luckily, Auburn Rose, your Baltimore property management firm, does! We offer Eviction and Rent Court Services and help you comply with both state and federal laws regarding evictions. We’ll even the eviction process, including: Filing court notices, Representing property clients in court, Mailing and posting Notice of Eviction, Calling sheriff to schedule eviction, Meeting sheriff on day of eviction with all receipts, Securing property, Hauling services, and Changing locks.
If you want to learn more about Property Management or if you have any questions, please contact Auburn Rose Property Management by calling (443) 928-2220 or visit our website today! You can also follow Auburn Rose on Facebook, Twitter, LinkedIn, and Google+.