The last thing you want as a rental property owner is a lawsuit. However, lawsuits can happen in Indianapolis rental property management if landlords don’t pay attention to the many rules, regulations, and codes that come along with that house deed.
Here are just a few you need to know:
- State property code laws
- Local city ordinances
- Property inspection regulations
- Trust and escrow laws on security deposits and monthly rental payments
- Rules from the Department of Real Estate
- Tenant screening regulations
- Real estate contract law on residential leases
- Tenant and landlord maintenance laws
You must be in compliance with all of the above regulations, or you could find yourself in court and possibly paying costly fines. Did you know that even neglecting federal and state regulations on the maintenance of smoke alarms and carbon monoxide detectors could be a liability? It’s just not worth it to take the risk. In addition to the above regulations, you also need to know about:
Americans with Disabilities Act: This act states that Indianapolis rental property management cannot discriminate against any tenants with disabilities. You must allow tenants to install adequate access features, such as a wheelchair ramp. This act also prohibits landlords for restricting or charging for service animals.
Habitability Laws: These laws require that your rental property is “habitable” or “livable” for an individual or family.
Fair Housing Laws: You cannot discriminate anyone from renting your residence based on gender, race, religion, color, sex, national origin, handicap, or familial status.
Collection and Eviction Laws: Collecting rent and evicting residents all have outlined processes for property management. Indianapolis landlords need to follow these regulations carefully. If you need to evict a tenant, but don’t take the proper precautions, then you could have a lawsuit on your hands.
You shouldn’t have to spend hours poring over books or doing research. Hire a professional team of experts with the knowledge and expertise to know all of these laws and regulations for you. With Real Property Management Indianapolis Edge, we make it our goal to keep up on all landlord and tenant codes and to be in strict compliance with all laws relating to rental management. Indianapolis landlords trust us because we have over twenty years of experience in the industry, and an in-house legal counsel.
Give us a call today to find out how we can minimize the complications of rental property management and save you time and money.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
