If you are looking for a way to make some extra income, you may consider buying an investment property. While there may be many potential benefits of owning a rental property, there are also several possible challenges. Before you purchase a rental property in North Carolina, it is essential to understand the relevant practical and financial aspects of being a landlord.
It is a situation straight out of a nightmare for residents and landlords alike. Just after you move in and start to turn your new place into a home, you discover the dreaded black spots behind the toilets, underneath countertops and in other nooks and crannies. You have mold. Regardless of whether you rent your home or you are the landlord, you and other North Carolina residents may be interested in learning about the potential safety and financial impacts of residential mold.
If you are a North Carolina property manager or landlord, you likely prefer to have all of your apartments and homes occupied by tenants. However, when residents breach the lease agreement in some way, you may begin the eviction process. At Triangle Law Group, we have extensive landlord-tenant litigation experience and can help find the most cost-effective solution for the best possible outcome.
At the Triangle Law Group in North Carolina, we represent many clients involved in commercial or residential landlord/tenant disputes. Oftentimes residential disputes revolve around whether or to what extent a landlord fixed a problem with an appliance, water faucet, etc. Other times, the dispute goes to whether or not the landlord is living up to his or her obligation to keep the premises in a fit and habitable condition overall. One issue that can be a headache for both tenants and landlords is bed bugs.
All states have laws that prevent landlords from using discriminatory practices against tenants. According to the North Carolina Department of Administration, the state's Fair Housing Act prohibits discrimination based on race, nationality, disability, skin color, family status, and sex. All types of properties and real estate transactions are covered by these laws. Along with landlords, people selling homes, developers, rental management companies, banks, and real estate agents are all required to comply with fair housing laws.
Mild winters, temperate summers and a wide range of activities may make North Carolina the ideal place for you to live. Unfortunately, the high humidity that accompanies the balmy weather also creates a breeding ground for mold. Although often consisting of harmless forms of fungi, there are some molds that produce toxins capable of causing severe health issues if not addressed. At Triangle Law Group, we often represent clients whose toxic mold issues go uncorrected by their landlord.
Whether you're a tenant or landlord in North Carolina, knowing the basics about rental agreements is a must. Certain elements must be present for an agreement to be considered valid, and if these elements are not present, then legal issues can easily arise. The Balance explains what makes an agreement legally binding and which elements call into question a document's validity.
There is a lot of advice for landlords about choosing good tenants, but if you are on the other side of things, you may wonder if there is advice for choosing a good landlord in North Carolina. After all, the landlord of a property really has an effect on your overall living situation.
Whether you're a renter or the owner of a property, it's important to know who is responsible for what in a leasing situation. While tenants are beholden to the terms contained within the lease, landlords also have quite a few obligations according to the law. In this case, the North Carolina Consumers Council offers the following information.
It may go without saying that a landlord can become frustrated when their tenants in Raleigh fail to pay them the rent. Multiple missed payments may prompt them to take action either to enforce their rental agreement or commence eviction proceedings. Such situations can understandably become contentious, which is why state and local officials establish very clear guidelines on how landlord-tenant matters are to be resolved. Unfortunately, there may be times when one (or both) parties to a rental agreement refuse to follow such regulations.