![]() Choosing a market for commercial multifamily investing typically involves considerations such as population growth and employment growth, which relate directly to the demand for rentals. However, less obvious factors such as landlord-tenant laws can also have a significant impact on a prospective rental market. Multifamily apartments are subject to a wide range of regulations, from federal equal housing laws all the way down to local business practices. As such, rental terms are almost never exclusively in the hands of the property owner. Policies can alter a wide variety of rental areas, including required property living standards, allowable marketing practices, taxes, and tenants’ rights. In terms of landlord-tenant law specifically, ideal markets will provide favorable treatment of landlords in cases involving eviction and bad debt. In the best-case scenario, evictions will take no more than 30 to 45 days, and tenants will be held responsible for economic harm to the landlord.
0 Comments
Leave a Reply. |
AuthorAn experienced real estate investor and co-founder of 37th Parallel Properties in Richmond, Virginia, Chad Doty has established himself as a leader in commercial multifamily real estate. Archives
January 2017
Categories |