AAOA Blog

Avoiding Fair Housing complaints and discrimination lawsuits is a goal of every landlord, but with so many regulations to follow, it can seem like it’s only a matter of time before you inadvertently get into trouble.

There is one thing that can make Fair Housing regs easier to tame – consistency.

Having proof in your files that you treat every applicant the same will go a long way in defending a claim of discrimination.

Here are some examples:

1. Advertise in generally accessible media – newspapers, Internet, not private clubs or publications that might not be available to everyone.

2. Use the same application form for each applicant. Don’t rent to anyone who has not filled it out completely.

3. Ask the same verbal questions in each interview. Use a script or intake form and jot down notes of answers to show what information was objectionable when turning an applicant away. Avoid any references to personal characteristics.

4. Run the same screening reports on every applicant.

5. Establish bona fide reasons for rejecting applications, and never accept other applicants who violate those same rules.
See last week’s Landlord Quick Tip.

Do you have a quick tip to share with other landlords? Please email our editor at kim@joinaaoa.org.

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing.

Fannie Mae’s New Loan Payment Reduction Plan

Fannie Mae’s Payment Reduction Plan (PRP) is now available to real estate investors and landlords who are having trouble making payments on their investment properties.

Since real estate investors and landlords have not been eligible for Home Affordability Modification Program (HAMP), they have had problems getting access to help from Uncle Sam with their residential rental loan payments.

Now real estate investors and landlords can tap into the PRP to reduce their monthly loan payment giving them time to work out their financial problem.

Therefore, if a landlord or real estate investor has suffered a financial hardship, they can work out a 30% reduction in monthly loan payments.

Similar to Fannie Mae, Freddie Mac is also offering help to troubled real estate investors and landlords. They can skip payments from 3 months to 6 months and in some situations loan payments on residential rental investment properties can be missed for a year.

Anybody who has a lost a job can tap into this program and take advantage of it.

To get more information on Payment Reduction Plan, CLICK HERE

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing.