NEW EQUAL RIGHTS HOUSING ACT HELPS RENTERS

InActive_Account profile photo

Under new federal guidelines, renters can now rest assured that they


are on equal footing as their prospective landlords. The laws which


go into effect today require landlords to become licensed through


their state's local FHA office, and bonded through private companies.


The new procedures include a thorough background check of potential


landlords to include credit and criminal histories, as well as


required training through an accredited program. "We are tired of the


same horror stories being repeated throughout the country" says


Richard Ellis, director of the FHA's southeastern regional


offices. "Tenants are being

thrown out on the streets due to property


owners own blunders, mismanagement, and greed".




It is believed much of this legislation was pushed through so quickly


due to the mass evictions in California and Colorado this year.




Historically, landlords have had the upper hand by performing credit


and reference checks, but the same protection was not available to


tenants. Under the new guidelines, any property owner not licensed


and bonded will not be able to remove tenants from their properties


through the traditional methods of notices and evictions. This will


help tenants from being put out in the street with no alternatives.




Landlords will now be required to locate equivalent housing, both in


price and environment providing for a smooth transition for the


renter. If suitable housing cannot be located the landlord will have


the option of subsidizing the rent for a period of two years to


assist the tenant until affordable housing can be located. It is


expected these new laws will help stabilize the housing market by


controlling the rapid rental price increases seen in the last few


years of hyper-inflation.




AP/Distr


3442.655

Comments(0)

Add Comment

Login To Comment