article thumbnail

Tenant Owes $21,000 in Late Fees: Court Rules in Landlord’s Favor

American Apartment Owners Association

Foster had rented a single-family home from landlord John Schutt starting in 2018 for $1,900 per month. Had Foster’s attorney properly raised the issue earlier, the outcome could have been very different. Landlords should ensure late fees are reasonable and justifiable if challenged.

article thumbnail

Essential Legal Considerations for Starting a Real Estate Business

American Apartment Owners Association

No matter if youre an independent landlord renting out a single-family home, a multifamily property owner managing multiple units, or a realtor expanding in property management, launching a real estate business is typically accompanied by unique legal challenges. This makes an LLC ideal for partnerships and also solopreneurs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Importance of an Accurate Rental Application

American Apartment Owners Association

In limited situations, the FHA does not apply to buildings with four or fewer units that are owner-occupied, single-family homes rented or sold by the owner without an agent and housing run by private or religious organizations that offer residences to members only. What are legal grounds for rejecting an applicant?

article thumbnail

Don’t Get Scammed: Know About the Fair Housing Act 

American Apartment Owners Association

In limited situations, the FHA does not apply to buildings with four or fewer units that are owner-occupied, single-family homes rented or sold by the owner without an agent and housing run by private or religious organizations that offer residences to members only. CHAT WITH AN ATTORNEY What is a Section 8 voucher?

article thumbnail

Don’t Get Scammed: Know About the Fair Housing Act 

American Apartment Owners Association

In limited situations, the FHA does not apply to buildings with four or fewer units that are owner-occupied, single-family homes rented or sold by the owner without an agent and housing run by private or religious organizations that offer residences to members only. CHAT WITH AN ATTORNEY What is a Section 8 voucher?

article thumbnail

Making Money in Multifamily: Tips and Tricks for Smart Investors

American Apartment Owners Association

Diversification: Owning multiple units in one property diversifies your investment portfolio, reducing the risk associated with single-family homes. Professional Help: When in doubt, seek advice from real estate professionals, financial advisors, or attorneys to ensure you’re making sound investment choices.

article thumbnail

House Hacking 101: What to Know

American Apartment Owners Association

For example, you could purchase a single-family home and rent out the rooms or buy that same property, make any necessary repairs and upgrades, and sell it for a profit. House hacking can be done in a multi-family apartment building or a single-family home. Theres more than one way to do it.