Zillow study shows renters & landlords don't understand basic rental laws.
I found this research study completed this year by Zillow to be fascinating. With over 100 million renters in the US, it appears that 1 in 2 renters lack a basic knowledge of landlord and tenant laws. Surprisingly enough, even 50% of landlords lack the same basic knowledge!
The study showed that both landlords and tenants have a hard time understanding:
- Laws surrounding security deposits
- Laws surrounding background checks and credit checks
- Laws surrounding privacy and access rights
- Laws surrounding early lease termination
As many as 82% of renters and 76% of landlords reportedly do not understand the laws surrounding security deposits and credit/ background checks.
How knowledgeable are you?
Take this fun 10 question Zillow Quiz designed to test your Landlord & Renter IQ. What did you score?
Whether you are a tenant or a landlord, it's imperative that you develop an understanding and abide by all regulations set forth by all the bodies and ordinances which govern landlord and tenant laws.
|Just a few of the regulatory bodies you must consider when leasing your home!|
As a professional property management company, our job is to continually monitor, learn, and comply with all national, state, and local laws that affect the housing market. Because we are not attorneys, we have a team of real estate attorneys on retainer to help us when we are unsure of how to interpret the lengthy laws.
Are you a Florida landlord or interested in becoming one?
Make sure to follow our blog series "The New Landlord: Tips & Tricks for the Profitable Landlord" for more advice on how to be an effective landlord! See our past articles including:
Thanks and have a great day,