Regardless of how good you are with learning, you will NEVER know everything you need to know about managing properties the right way. The reason is simple. Things change. The acceptable thing to do yesterday could become all the sudden illegal today.
Let’s take a look at one example. In the past, it was easier, if not easy, to deny applicants based on an applicant’s criminal history. That just changed, at least in Cook County, IL. According to the Chicago Tribune article, titled “Rules to address bias in housing,” it is “illegal to refuse to show (a) property or rent housing to people with certain criminal records.” This amendment will be in addition to what HUD said in 2016, which basically say you can no blindly deny applicants because of their criminal history.
The challenge with this for those who manage properties, as with many laws, is that it’s not a clear rule. You have to read the law and possibly consult with an appropriate professional to make the right decision.
News like this will not get delivered to you, just because you manage properties. You have to pay attention, or it’ll pass right by you, and you may end up violating laws without knowing it. This is why it’s so important to follow the industry, talk to the right people, and continually educate yourself.
