Susan Ormont - RISK VERSUS REWARD: A SIMPLE GUIDE FOR INVESTING IN REAL ESTATE

Even if you’re not ultimately found at fault in an FHA complaint, you can still spend thousands and thousands of dollars protecting and defending yourself from the complaint in the first place. Even 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

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