David G. Brown - HOW TO REDUCE YOUR RISK IN REAL ESTATE INVESTING

worse, an FHA complaint can put your reputation on the line and hurt your business, regardless of the outcome. “Bad apple” and red-flagged tenants can use FHA complaints in order to get an unfair advantage over you. If you don’t know the ins and outs of the Fair Housing Act, you could leave yourself vulnerable and open to a potential liability you never saw coming. Don’t let yourself get exposed to that; protect yourself by understanding and following all FHA laws. Consider talking to someone who knows all about Fair Housing practices and rules before you move forward with opening up your property to renters. Hire a property management lawyer to get all the facts and to understand both your renters’ rights as well as your own. You’ll need to consider national, state, and local housing laws when renting out your home. Regularly check in with your attorney to ensure that a) you’re aware of all applicable Fair Housing laws to your area; and b) you’re in compliance. You’ll also need to check that you’re following the requirements of the law for Section 8, Social Security payments, etc. For example, some cities and counties require that any landlord accept any and all Section 8 applicants. In addition to all Fair Housing laws, you’ll need to familiarize yourself with the ADA, which protects people living with disabilities from discrimination in many different areas — housing included. There may be other laws particular to your area, so, again, do your research/homework and consult your attorney so you are covered! Again, your minimum qualification standards can protect you when it comes to Fair Housing complaints, but only if you’ve consistently used these standards for everyone.

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