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Avoid these common and costly mistakes as a landlord

Becoming a landlord in Rhode Island can be a great way to obtain a steady revenue stream that can help you support yourself or your family, but the landlord role is not always an easy one. Often, new landlords, or inexperienced landlords, make similar errors that wind up costing them considerable money, and recognizing what these common errors are can help you learn how to avoid them. At the Law Offices of James T. Marasco, we are well-versed in the challenges affecting the state’s landlords, and we have helped many people in your shoes pursue solutions that meet their needs.

According to Zillow, one of the most common landlord mistakes involves not having a solid understanding of the laws pertaining to fair housing and discrimination. In simple terms, fair housing and discrimination laws dictate that you have to give everyone an equal opportunity to rent your property, regardless of race, sex, disability or what have you.

Another common landlord error that can potentially lead to trouble involves failing to properly screen your prospective tenants. Often, landlords pigeonhole their focus on filling a space, rather than finding the right person to occupy it, and this can lead to trouble. Make sure that you always ask for references before you offer up your property to a tenant, and make sure that you actually contact those references, too.

Many Rhode Island landlords also find that they run into trouble when they do not fully understand the responsibilities that come with the landlord role. For example, it is up to you to ensure that your property remains safe and free from anything that could potentially lead someone to suffer an injury or develop an illness. You may, too, have obligations as far as snow removal, leaf removal and what have you. You can find out more about real estate on our webpage.

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