Understanding Fair Housing Issues and Pitfalls for Property Management in Fort Worth
Fair Housing is an important part of property management. It is important to understand that violations to the Fair Housing Act are considered serious and can come at a cost.
Whether you are selling a home or renting property, the Fair Housing Act needs to be at the top of every real estate and property managers mind. Violations of this act come at a cost whether in the form of hefty fines or losing one’s real estate license. That is why it is important to understand the laws, what situations will violate this law, and learning how to avoid potential pitfalls. Consider these three tips on complying with the Fair Housing Act and property management Fort Worth.
It is unlawful to deny housing to an individual based on race, color, religion, national origin, sex, disability, or the presence of children. Making false claims that a property is no longer available- when in actuality it is- not only shows signs of incompetency, it is also grounds for a real estate agent to lose their license. At the very least, the denied tenant has grounds to file a complaint with the real estate licensing board.
To avoid this violation, Specialized Property Management DFW has the experience and knowledge of the law inside and out. You can rest assured your property management Fort Worth team will be in compliance.
Emotions of the Owner
Homeowners can develop a strong emotional bond to their home. It could be the place they brought home their first born, or memories of blood, sweat and tears poured into their first renovations. Whatever the attachment is, it is important to remember that this attachment can be a potential for disaster when complying with the Fair Housing Act. Property managers need to advise their clients they must become emotionally detached when they decide to place their home up for renting. It must be seen as a business transaction. If a property manager shows any sign of discrimination towards a potential renter because of a homeowners attachment, it could mean serious trouble.
Is it okay to have no-pet policies on rental properties? Yes! However, since service animals are protected under the Fair Housing Act, you need to understand the different facets of the law as it relates to animal considerations. You cannot discriminate based on the size or breed, and is sometimes easier to not consider service animals as pets; So you don’t discriminate or charge a fee just because they walk around on four legs.
Taking on the extra job of property management without the knowledge or training can place your license at risk when dealing with the Fair Housing Act. Fort Worth property management can be a hairy business, so make sure you know the regulations and comply. An even better idea is to hand it over to the industry best in Fort Worth property management. Specialized Property Management DFW keeps track of these regulations and is up-to-date on changes and compliance with local and federal laws and regulations. Plus, with the added referral benefit, this choice is a no-brainer; all the benefits without the risk.