Jose Ernesto Batres Gonzalez is the CEO and founder of BM Capital. With over a decade of expertise in the real estate industry, Jose Ernesto Batres Gonzalez thoroughly understands the role that property managers play in real estate, emphasizing the importance of effective tenant communication, maintenance oversight, rent collection, and sound financial management. In the following article, Jose Ernesto Batres Gonzalez explains how landlords and tenants can stay compliant with laws and regulations.
According to industry experts, the best way for tenants and landlords to stay compliant with the law is to first learn their legislative standards. This can be done by searching online for one’s specific county laws regarding landlords or tenants. These laws are made to protect both tenants and landlords in the event of a misunderstanding or dispute.
Below, Jose Ernesto Batres Gonzalez examines the best ways to stay compliant with laws and regulations for not only landlords, but the tenants living in their properties as well. By the conclusion, it will be easier for tenants and landlords to use the legal system’s protection for their mutual benefit.
Jose Ernesto Batres Gonzalez on How to Stay Compliant
Staying compliant with the law is universally important. However, perhaps the most important place to stay on top of regulations and laws is in the realm of the home. If a tenant breaks a law, they could be evicted, and if a landlord breaks the law, they could find themselves being sued and losing money, along with their job.
Jose Ernesto Batres Gonzalez explains that while these may be worst-case scenarios, they are simply the tip of the iceberg of potential consequences when failing to stay compliant with landlord-tenant laws and regulations. There are many benefits, such as protection and peace of mind, which stand to be lost if these laws are broken or not complied with.
Now that we’ve established the importance of compliance, let’s discuss how to actually carry it out. Of course, the first step to staying within legal boundaries is learning what they are. To do this, it is recommended that a tenant and a landlord conduct frequent searches of their state’s landlord and tenant ordinances on the internet.
Much of the important information, such as updates and new laws or ordinances, can be found in the United States Department of Housing State information website.
Jose Ernesto Batres Gonzalez explains that it is important to stay abreast of each category of laws:
- Federal – These are laws handed down by the overall government, usually applying to systems in all states.
- City – These are laws specific to one city, not necessarily all cities in the county or state.
- State – These are laws that are assigned to anyone living in the state.
Laws and Regulations for Landlords
Landlords primarily stand to be sued or suffer from a loss in position if they fail to stay abreast of the laws in their country, state, and city. As the landowner or manager, the primary responsibility for adherence to regulations falls to the landlord.
Jose Ernesto Batres Gonzalez says that there is no need to buckle to the pressure of this position, though. For example, landlords can join an organization or professional group specifically set up for spreading news that landlords should be aware of. One example of this might be a property owner’s association, which offers updates on any relevant changes in legislation.
Guides and online blogs for landlords, as well as subscriptions to these pages, can accomplish the same goal.
Jose Ernesto Batres Gonzalez says that this can help a landlord to understand when they can follow-up on a late rent payment, or what the state offers in terms of regulations for such issues. They can also learn what documentation must be supplied to the city or state, such as security deposit confirmations.
Laws and Regulations for Tenants
A tenant can also face considerable risks and monetary consequences if they fail to comply with regulations, not just from the landlord, but from the state or city they live in.
Jose Ernesto Batres Gonzalez reports that a tenant may not be able to join the same organizations that are available to their landlord, but there are other resources available for them to stay aware of laws and regulations. For example, checking the fine print on lease documents or conducting a careful internet search can yield many similar helpful results.
This can keep a tenant aware of their rights when it comes to how often they should be reminded of rent payments or other important, sometimes stressful, interactions.
In summary, staying compliant with landlord-tenant laws and regulations is a great way to capitalize on the benefits and protections offered by lawmakers. Landlords can avoid lawsuits and loss of their property, while tenants can avoid eviction or unfair treatment. Altogether, this contributes to peace of mind and a happier living situation.