Nov 19, 2014

Posted by Shanell Calloway in Uncategorized | Comments Off on Legal Requirements for Property Management Companies in Park City, Utah

Legal Requirements for Property Management Companies in Park City, Utah

When you hire a property management company to take care of your rental properties, that company is legally your representative. So if that company wilfully or unintentionally mismanages your properties, you can be held liable. At best, you may simply lose a lot of money; at worst, you could end up in court. That is why it is so important to hire a property manager who knows your legal requirements. Look for property management companies in Park City, Utah who can demonstrate their knowledge of landlord regulations before you hire one.

Tenant Rights

Your tenants have some rights that you need to know about. In the state of Utah, some of the most notable of these include their right to withhold rent if you fail to provide “essential services” like water or heating, to terminate the lease early if they provide fifteen days notice and are paid up, and to receive their security deposits along with court costs and $100 from your pocket if you didn’t provide a move-in checklist of the condition of the home before the lease was signed.

Move-In Responsibilities

In addition to the mandatory move-in checklist, you have a few other responsibilities to take care of before your new tenants arrive. You must inform them of any hazardous substances nearby (for instance, if the home is near a nuclear power plant) and any lead paint hazards. Make sure that there is some form of garbage removal in place, unless the lease specifies that the tenants will remove their own garbage. Give the tenants the name and address of the owner of the property, if you are not the owner, and that of your agent or property manager. Remember, too, that if the security deposit is non-refundable, you have to state that in the lease agreement.

Landlord Rights

As a landlord, you have some rights that you and your property manager should know about. You can terminate a lease early if a tenant fails to pay or breaks any aspect of the lease, as long as you give a three-day notice. If the tenant refuses to leave, of course, you cannot lock him out or move his things, but you can take him to court. You may re-rent the property if the tenant suddenly leaves with his things if the rent is one day overdue, or fifteen days overdue if his personal property is still there.

Your Property Manager Needs to Know These Laws

If the property management company you want to hire can’t demonstrate a thorough knowledge of these laws, don’t hire that company. In addition to these state laws, property management companies in Park City, Utah must know the laws that are specific to Summit County. Property Alliance, one of Park City’s leading property management companies, is intimately familiar with all the local, state, and federal laws and regulations that you need your property manager to know.

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