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Common Mistakes That Could Destroy Your Landlord Business


landlord tips

A lot of landlords are nervous when they first start. You may have previous bad experiences under your belt from when you were renting–but don�t let that deter you.

If you�re just starting a landlord service, and you�re nervous about making a mistake, that�s okay. �A lot of landlords are nervous when they first start. �You may have previous bad experiences under your belt from when you were renting–but don�t let that deter you. �Know that you can make a difference, so long as you follow these easy tips. �Read on to discover what you should never do if you want to be a landlord.

  1. Privacy

Your tenant has the right to be as private as they want. �Legally, you can�t go inside the property unless you give a 24 hour notice–after such time, you can enter to show off the property, or to make repairs. �Make sure you make this clear on your lease so you don�t run into trouble later.

  1. No discrimination

Regardless of personal beliefs, every citizen has the right to nondiscriminatory housing. �This means you can�t do anything except make sure they can afford your place. �You�re allowed to check their credit, among a few other things that vary per state. �But don�t start asking questions about someone�s background or marriage–this can lead to a lawsuit if you�re not careful, and it�s better to be safe.

  1. Insure yourself

In case you do make a mistake, you�ll want to have some kind of safety net. �Insure your property against those tenants who may want to sue you. �It�s always a good idea to have insurance in case of natural disaster, but insuring the property means you�ll be more protected if you are to break some kind of rule, like illegal entering.

  1. �Keep your contracts legal

This seems pretty simple, but you may think you have more rights as a landlord than you actually do. �You can�t sign away anyone�s right to a returned security deposit, and you can�t take away their ability to sue you. �Also, you do not have the right to refuse service to anyone. �In Maryland, we have antidiscrimination laws in place that prevent personal identifiers from being denied housing. �This includes but is not limited to: gender, age, creed, race, ethnicity, country of origin, or sexuality. �You could run into a nasty lawsuit if you ignore this.

Here�s more about protecting yourself as a landlord.

Learn more about buying and selling properties by following our blog at The Team Edge.

At The Team Edge, we�re dedicated to buying properties no matter the state. �Foreclosed, in probate, cluttered, old and decaying–it doesn�t matter. �We�ll buy it. �If you have a property you�d like to sell, contact us today, and we�ll work with you. �Our clients agree–we�re the best in the business.

Call our 24/7 hotline today at 443-840-7100 or fill out our quick and easy online application to get started on selling your Maryland property immediately. That�s right. Sell your house fast � AS IS!

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The Team Edge Properties
6400 Baltimore National Pike #338 catonsville, Maryland 21228
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