Property Management News
A landlord can increase rent by up to a certain percentage or amount specified by local rent control laws. Rent increases are subject to local rent control laws which dictate the maximum percentage or amount by which a landlord can raise the rent. These laws vary depending on the jurisdiction and can range anywhere from a few percentage points to a specific dollar amount. Rent control regulations seek to prevent excessive rent hikes and protect tenants from unreasonable increases. Landlords must familiarize themselves with the specific rent control laws in their area and adhere to the allowed increase limits. Failure to comply with these laws may result in legal consequences for... Read more
A landlord can charge for lost keys, usually ranging from $50 to $200, depending on the market and circumstances. Welcome to the world of being a tenant where...
According to the Garn-St. Germain Depository Institutions Act of 1982, a mortgage lender may not exercise its option pursuant to a due-on-sale clause for...
Yes, a landlord can raise the rent if a girlfriend moves in. However, it is important to review the terms of the rental agreement to see if there are any restrictions...
The National Multifamily Housing Council (NMHC) has released their Pulse Survey on Operational Impact of Rental Application Fraud and Bad Debt, which was conducted from...
The source of income law is in limbo now because on June 27, 2023, a Cortland County Supreme Court judge ruled that the law is unconstitutional to the extent that it makes it an unlawful discriminatory practice to refuse to rent to any person because their source of income includes Section 8 vouchers. In other words, landlords are not required to accept Section 8. However, the NYS Attorney General has filed an appeal. A higher New York court could overrule the Supreme Court decision. There are prohibitions against: Income requirements for recipients of publicly funded rental assistance, other than those income requirements set by the housing voucher programs; Requiring that a prospective... Read more
The past few years have been a rollercoaster for the IRS and taxpayers alike. In 2020, Congress passed two rounds of stimulus checks, and Tax Day was postponed until...
A landlord can change the pet policy governing their rental property at any time. Finding a rental property that allows pets can be a challenge for many pet...
The California Apartment Association urged the court to hear a major property-rights challenge to tenant protections in NYC The Supreme Court on Tuesday declined to hear...
One of the most common assets that divorcing couples own is real property. In many cases, the real property is limited to the marital residence. However, some cases also...
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