In the United States, property owners have several legal and ethical responsibilities to ensure the safety and well-being of their tenants, visitors, and the general public. The homeownership rate in the US fell due to the recession in 2004 and continued to fall until 2016. It slightly rose in 2022, when the proportion of households occupied by owners stood at 65.9 percent. Some of the key responsibilities of property owners in the US include:
Tenants
One of the owners’ most significant responsibilities is taking care of the tenants. If the homeowner knew there was a hazard and did not preserve safety, they must take responsibility for injuries caused in the house. In that case, an attorney must establish the foreseeability of the defendant while proving premises liability. The owner can claim that they have not foreseen the dangerous condition, which will raise the issue. Along with that, there are other obligations that the owner has toward tenants.
Providing a safe and habitable living or working environment
Property owners must ensure that their properties meet certain minimum standards for safety, sanitation, and structural integrity. This includes providing adequate lighting, ventilation, heat, and plumbing, as well as ensuring that any hazardous conditions (such as lead paint or mold) are properly addressed.
Maintaining the property in good repair
Property owners must keep their properties in good repair and promptly address any maintenance issues or repairs that arise. This includes fixing leaky roofs, broken windows, and other structural problems, as well as addressing any issues with electrical, plumbing, or HVAC systems.
Providing adequate security measures
Property owners are responsible for providing adequate security measures to prevent crimes such as burglary, theft, or assault. This may include installing locks and security cameras or hiring security personnel.
Complying with local, state, and federal laws
Property owners must comply with all applicable laws and regulations related to property ownership, such as building codes, zoning regulations, and fair housing laws.
Communicating with tenants
Property owners must maintain open lines of communication with their tenants, including providing notice before entering the property, responding promptly to maintenance requests, and providing clear and transparent rental agreements.
Failure to meet these responsibilities can result in legal liability for property owners, including lawsuits, fines, or even criminal charges in some cases. It is important for property owners to be aware of their responsibilities and take steps to ensure that their properties are safe and well-maintained for their tenants and visitors.
Finding and screening the tenants
A property manager should screen the tenants to filter out unqualified applicants and choose the best tenant for the property owner’s rent. However, the manager should avoid discrimination under the Fair Housing Act (FHA), preventing a lawsuit. Desired tenants’ qualifications are paying rent on time, being responsible, taking care of the property, and having straightforward responses.
Managing
A property manager manages tenants from day one until they move out, handling emergencies, lease terminations, complaints, safety compliance, and security deposits. The manager will do it, providing peace of mind to the landlord.
Renting price
The owner’s primary responsibility is to set the price, collect the money, and adjust it according to outside factors. The owner defines the cost using market data, location, or surrounding area.
Rental property
Owners’ responsibilities are maintenance and repairs, and the list of obligated jobs is defined by contract and law. The manager or owner must ensure and maintain a spotless and desirable property. The owner must double-check the essential parts of a property and inspect smoke alarms, drainage, pest control, light bulbs, and other emergency repairs.
Complaints and issues
A property manager ensures the property is well-protected and hires the people who should protect it from vandalizing and squatting. The owner reserves the unhindered work of on-site employees like cleaners, concierges, or security personnel. It also presumes complying with all property-related processes with local, federal, housing, state, and health laws.
Taxes, insurance, and mortgage
Among other responsibilities the owner has, making timely mortgage, insurance, and property tax payments are the top priorities. The property manager’s job is to file the property taxes for you.
Keeping records
A property manager must keep up-to-date, accurate, and comprehensive records of your investment and your property’s finances and growth. In that way, the owner can easily make critical decisions and improve the property’s features. Keeping records implies keeping track of repairs, insurance costs, and rental payments. All should help in tracking and performing accounting during tax season.
