Depending on where you live, the laws on what you must disclose to tenants before a lease is signed vary. Your protection as a landlord comes from being forthcoming with information. Disclosure laws cover many issue that arise, and if it can be proven that you did not provide the necessary information, you could have a tenant with legal grounds to break their lease, or even sue you for compensation.
So, without further ado, here are some of the things that you just might need to inform your tenant of:
- Prior drug activity in the home
- Deaths in the home
- Any previous flood activity
- Any detection of mold
- Use of lead-based paint
- Previous presence of asbestos
- Bedbugs (Although other types of bugs on the property can easily be eliminated, bedbugs really like to try and stick around forever. Especially if there’s carpet. So, even if you think the little creepy crawlers are gone, you’d better warn your tenants!)
You must be aware of the possible repercussions if you do not disclose something to a tenant and there is a problem. Of course, choosing to over-disclose information could also be problematic, if by chance you bring up an issue that’s a touchy one for a good prospective tenant. But a good landlord/tenant relationship also doesn’t happen through dishonesty, so there is that to consider as well!
Comments(1)