How well do you know the local laws and rental regulations in Charlotte, or in your specific municipality? Do you know the state laws in North Carolina around security deposits, eviction, and lease agreements?

Staying compliant with local laws and regulations is an important part of maintaining a profitable portfolio, but it’s not exactly easy. These laws change all the time, and it can be easy to stumble over a requirement or a regulation without intending to.

For real estate investors, understanding how property managers ensure compliance can make a significant difference in avoiding costly fines and legal complications. Your property management partner should be keeping you on track and ensuring that you’re not in danger of misunderstanding or ignoring critical requirements.

Let’s explore the strategies property managers employ to keep properties and property owners aligned with real estate regulations.

Understanding Local Real Estate Regulations

Ignorance is not an excuse when you’re found to violate a local law or a state law or a federal fair housing law. You cannot say you “didn’t know” and expect to be let off the hook.

Educate yourself on at least the basic principles of rental laws in your area. Local real estate regulations can vary widely depending on the area, encompassing everything from zoning laws and building codes to health and safety standards.

Property managers play a pivotal role in interpreting these regulations, ensuring that properties meet all necessary requirements. This involves staying updated on changes in legislation and being proactive in implementing any necessary adjustments. If you’re not sure what’s required of you, the local property management expert can be a valuable resource.

Regular Property Inspections

One of the key responsibilities of property managers is conducting regular property inspections. These inspections help identify any issues that might lead to non-compliance with local laws. By routinely checking the property for safety hazards, structural damages, or unauthorized modifications, property managers ensure that the property remains within legal standards.

Keeping your rental property safe and habitable is your most basic responsibility as a landlord. You don’t want to fall short of your legal requirements and you also don’t want to settle for just the bare minimum.

Liaising with Legal Experts

One of the benefits to working with a professional property manager is that you can leverage the relationships that we have with other professionals.

Such as legal experts.

Property managers often work closely with attorneys and legal professionals specializing in real estate regulations. These experts provide valuable insights and guidance on how to interpret complex laws and regulations. They help us write lease agreements that are legally compliant and legally enforceable. They advise us on evictions and help with any potential disputes and conflicts.

This collaboration ensures that all actions we take on behalf of you and your investments are legally sound, reducing the risk of non-compliance.

Staying Up to Date on Existing and Pending Laws and Legislation

Whether we are talking about laws around service animals and emotional support animals or local restrictions on short-term rental homes, property managers are constantly learning. We attend industry events, we read pertinent newsletters and blogs, and we network with professionals who are working in the same areas as we are.

A good property management partner will develop comprehensive compliance programs that outline procedures for maintaining adherence to local laws. These programs may include:

Training staff on compliance issues
Maintaining detailed records of inspections and repairs
Establishing clear protocols for addressing violations

By having a structured approach, property managers can systematically ensure compliance across all properties under our care. We have processes in place to ensure there’s no subjectivity during the screening process, for example. Every application is treated consistently and objectively because we have the processes and the automated technology in place to ensure this is what happens.

Effective Communication with Tenants

Tenants play a significant role in helping you and your management team maintain compliance, and we are constantly in touch with our residents. Their actions can directly impact a property’s adherence to local and state regulations. Those tenants can also be the initiators of a claim or a lawsuit that we’re called to defend ourselves against. Good tenant relationships are essential.

Property managers engage in effective communication with tenants, educating them about rules and expectations related to property use. This includes outlining guidelines for noise levels, waste disposal, and property modifications, ensuring tenants understand their responsibilities in maintaining compliance.

Utilizing Property Management Technology

Technology plays an essential role in modern property management, helping us with compliance and with consistency. Property managers use software tools to track maintenance schedules, document inspections, and store important compliance records. These tools provide a centralized platform for managing compliance-related tasks, ensuring that nothing falls through the cracks.

From marketing with the property fair housing language to screening without regard for race, age, and other protected classes, our technology keeps us compliant. It helps us track security deposit timelines and allows us to easily see the difference between damage and normal wear and tear.

The real estate landscape is continually evolving, with new laws and regulations frequently introduced. Property managers are called to stay informed about these changes through various channels, and we take it seriously. This proactive approach allows us to anticipate potential compliance challenges and address them before they become issues.

For real estate investors, partnering with a skilled property manager who prioritizes compliance with local laws and regulations is invaluable. We will employ a range of strategies to ensure that properties remain compliant, from regular inspections and collaboration with legal experts to implementing comprehensive compliance programs.

By staying informed and leveraging technology, property managers help safeguard investments and maintain their value over the long term.

Let’s talk about where your greatest risks might be when it comes to complying with rental laws. Maybe your lease agreement needs updating. Or perhaps a fresh set of standard rental criteria will make the screening process less risky. Please contact us at Wess Cason Realty. We provide real estate and property management services in Charlotte and the surrounding areas in Mecklenburg, Union, and Cabarrus County.