fun or die landlord

By admin  

fun or die landlord

The sad and scary truth is that landlords walk this earth with a giant target sign on them, shouting “SUE ME!” Statistically, most landlords will be involved in litigation at least once in their careers, and I can tell you from personal experience, the process is about as fun as having wisdom teeth pulled, and much more expensive.  

There are some precautions that landlords can take, however, to minimize their likelihood of being sued. So, without further ado, they are… :

Precaution 1: Adhere to Lead Paint Laws

Easily the most ubiquitous type of lawsuit that landlords have to defend against, lead-based paint lawsuits are almost impossible to win and almost universally end with the landlord paying a massive sum to the tenants, out of pocket. As the saying goes, the greatest defense is a strong offense, so make absolutely sure you adhere both to national and local lead paint laws. This means giving tenants lead-based paint disclosures when they sign the lease, and (depending on your state) almost definitely performing a lead paint test on the property beforehand.

Beyond simply adhering to the law, however, you should also look up the tenant’s children’s health records, to make sure they have not had lead paint poisoning in the past. If possible, check the tenant’s legal history as well, to see if they’ve been involved in litigation. There are plenty of stories out there of tenants simply moving from house to house, suing each new landlord in turn for lead paint, and then simply moving.

Precaution 2: Mold

Mold is almost never toxic, but good luck convincing the judge of that when your tenant decides they don’t want to pay rent anymore. So first and foremost, check investment properties before you buy them for pervasive mold. When you’re renovating them, be wary of any moisture leaks, and double check all of the plumbing elbows and duct joints.

Before renting out your property, consider having a mold inspection performed, to warn you if there might be an issue. You should also write into your lease agreement that the tenants must notify you immediately if they find any signs of mold, so that you can quickly address the situation. This helps put some of the responsibility back on them, so that they can’t simply call and say that mold has been festering for six months and now they’re sick.

Precaution 3: Keep It Personal

Tenants are far less likely to sue landlords that they know personally, which means that it’s part of your job to be on a first name basis with every single one of your tenants. Ask about their children, their jobs, their lives, and tell them about yours. Whenever possible, emphasize the fact that you have financial troubles of your own, just like they do.

This point can’t be overemphasized; if a tenant considers themselves on friendly terms with their landlord, they won’t leap to sue at the first opportunity. And who knows? You may actually grow to like your tenants, and enjoy their stories and company.

No one wants to be sued, but with some easy preventive steps, even landlords can avoid litigation. Don’t fall into the absentee landlord mentality; be proactive, and your investment in time and money will certainly pay off.

Brian Gregory writes for a series of real estate publications, including NuWire Investor, EZ Landlord Forms, Ezine Articles, and many more.
Here is a resource for lead-based paint disclosures, if you’re a landlord and don’t already have them.

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