Real estate is a highly-regulated business where lot of fraud and unethical practices happen. You can seek assistance from a real estate attorney, but you should also strive to educate yourself.
At a minimum, you should be aware of the following:
Landlord-Tenant Rules
How much does it cost to evict someone? How long will it take? Can I serve notices myself or if there are any special rules applicable for my city? Is there a limit for the security deposits? Should I pay interest for the deposits? How long can I hold the deposit once a tenant leaves?
Legal Documents
What form of documents are used in my area? Are there any special forms for real estate agents? You should be aware of the local forms and have knowledge about how to tailor them for your needs.
Recording Rules
What are the filing fees for legal documents and what format should we follow?
Disclosure Laws
What should be disclosed to a tenant or buyer? This information can be obtained from your local real estate investor's association.
Interest Rate Limits & Other Loan Regulations
Since the limit for charging interest might differ for each state, you must find the interest rate applicable for your state.
Fair Housing
When your rent your property, you should not discriminate against people based on race, religion, sex, age.
Licensing Laws
You need to check with your state licensing agency for information about licensing laws. You should also be aware of consumer protection laws.
For more information about commercial property investing, visit here.
At a minimum, you should be aware of the following:
Landlord-Tenant Rules
How much does it cost to evict someone? How long will it take? Can I serve notices myself or if there are any special rules applicable for my city? Is there a limit for the security deposits? Should I pay interest for the deposits? How long can I hold the deposit once a tenant leaves?
Legal Documents
What form of documents are used in my area? Are there any special forms for real estate agents? You should be aware of the local forms and have knowledge about how to tailor them for your needs.
Recording Rules
What are the filing fees for legal documents and what format should we follow?
Disclosure Laws
What should be disclosed to a tenant or buyer? This information can be obtained from your local real estate investor's association.
Interest Rate Limits & Other Loan Regulations
Since the limit for charging interest might differ for each state, you must find the interest rate applicable for your state.
Fair Housing
When your rent your property, you should not discriminate against people based on race, religion, sex, age.
Licensing Laws
You need to check with your state licensing agency for information about licensing laws. You should also be aware of consumer protection laws.
For more information about commercial property investing, visit here.
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