Rental properties can be a great and relatively easy investment, particularly if you find responsible renters who love the apartment or house and plan to live at the residence long term. As a landlord, you have many responsibilities which include making your property safe and sound for any potential renters.
Even if you are hesitant to put a lot of money into a property that may get wrecked by rowdy renters, you must keep tenants safe from falls due to a broken stairwell or scalding burns from an old water heater. Your investment in your renters’ safety will save you a lot of money and hassle in the long run.
Your Renters Have Rights
As a landlord, you have expectations of your renters that you make clear in the lease which most often includes paying rent on time and being respectful of the rental property. However, if you fail to make the rental property “livable” you are violating your renters’ rights and they have the right to withhold rent payments, ask for compensation, or even sue you for negligence.
Even if your rental property is older and requires a little work, simply reducing the rent will not compensate for lack of safety or livability. In order for a rental property, apartment or house, to be considered a habitable living space (also known as Implied Warranty of Habitability) includes the following, but may not be limited to:
- Structurally Safe and Sound: Stairs, floors, foundation, and the roof should all be intact and safe for inhabitants. This means that the roof should be free from leaks and flooring should be strong.
- Keep the Basics Operational: An apartment with faulty wiring, bad plumbing, or broken elevators are a recipe for disaster and tenant injuries. A good question to ask yourself; would you live in your own rental property? If you say “no”, you’ve got some work to do.
- Heat & Water: Heat and water are basic needs. Your renters should be supplied with hot water and heat for the colder months. Make sure that equipment to heat water, such as water heaters or boilers, are in good working condition and set to a reasonable temperature. Too hot and your tenants can be injured badly.
- No Exposure to Toxins: Many rental properties are old homes and buildings built with materials that are now known to pose health threats (such as asbestos and lead paint). Renters must know if they could be potentially exposed to toxins and you, as a landlord, should do your best to eliminate or reduce hazardous material.
When considering the purchase of a rental property, you must always consider the safety of the building. A certified home inspector, upon thorough inspection, can report what may need to be repaired. If too many things need fixing or replacing to make it safe before you rent, it may not be a worthy investment. Remember, as a landlord, your obligations are to recognize your renter’s rights and make your property as safe as possible.