Property Management Blog

Potential Changes to Rental Industry

There has been a lot of potential changes to the rental housing industry proposed in the legislation over the last 3 months. Legislators are trying to change what is currently a 3-day demand for nonpayment of rent or other violations of the lease, to a 14-day demand which will delay any eviction from 1 month to 2 months. This is two months that owners will lose rental income while tenants are still living in the home before we can attain possession.

Legislators are also trying to regulate the application process property managers are using because tenants with negative credit or rental history are being turned down by multiple sources which according to legislators is causing undue financial loss to these prospective tenants.

Legislators are working on a Bill that would now require owners of rental properties to put tenants up in a hotel/motel at Landlord’s expense should there become a major issue that is happening at a property. Depending on how long it will take to repair, Landlords may also be liable for the tenants moving expenses as well. While most owners who own such properties do that anyway, having this issue added to the Habitability portion of our current law, could potentially put undue hardship on owners of these types of properties. Under this Bill tenants will also now have the right to withhold rents, with notice from the Landlord until work has been completed.

Stay tuned for more updates on these Bills as final decisions come through.

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