All states have their own landlord-tenant acts, which creates the rules by which landlords and tenants must follow. Some favor property owners, while others tilt heavily in favor of tenants so here are 5 cities where you do not want to be a landlord SparkRental says.
Also, not all cities are equal in terms of landlord challenges. Some cities impose high property taxes and strict landlord-tenant laws or have low rental demand, slow economic growth and job creation challenges.
Spark Rental has put together their list of the cities, in their opinion, where you do not want to be a landlord. Here are the top 5 cities where they say you do not want to be a landlord. You can read their full article with their top 10 cities here.
No. 1 – Portland
“Portland is ranked as the worst city in the U.S. for landlords, according to Spark. because of its exceptionally tenant-friendly policies and stronger restrictions. Portland bans “no-cause evictions,” an intentional misnomer that refers to landlords opting not to renew a tenant’s lease agreement. That also applies to “substantial” changes in lease terms, and rent increases of 10 percent or more in a 12-month period. If the landlord does any of these, they must pay the tenant relocation assistance,” SparkRental writes.
No. 2 – New York City
“New York City also makes life extremely difficult for landlords. It enforces the largest and most complicated system of rent control and rent stabilization in the country. And removing a rental unit from rent control to charge market rates is both difficult and far from certain.
In the event of evictions, the City gives all tenants free access to legal aid services to help them fight landlords in court. Compounding matters, landlords who fail to dot every I and cross every T in the eviction process now face criminal prosecution and a fine of at least $1,000.”
No. 3 – Washington, DC
“Landlords must obtain not only a housing business license but also a certificate of occupancy. And register the property with the Rental Accommodation Division (RAD) which is part of the Department of Housing and Community Development (DHCD), among other red tape.
“Landlords must deliver a pamphlet published by the Rent Administrator that explains, in detail, the laws and regulations governing the implementation of rent increases and petitions permitted to be filed by housing providers and by tenants. Plus a copy of the Tenants Bill of Rights published by the Office of the Tenant Advocate. Then at the end of every calendar year, the owner must post where the tenants’ security deposits are held and the interest rate for the preceding six months,” SparkRental says.
No. 4 – Baltimore
“Landlords must register all rental units with both the City of Baltimore and the State of Maryland — and pay both of them fees for each unit. And get a use and occupancy permit. And have each rental unit tested and inspected for lead-based paint in between every single tenancy. With the lease agreement, landlords must provide a copy of the lead inspection certificate.
“Baltimore also banned “no fault evictions” like some of the other cities on this list. Landlords can’t non-renew a tenant without “just cause,” such as moving into the property themselves, making major renovations, or removing the property from the rental market permanently.”
No. 5- Detroit
“Detroit requires all rental properties with one or two units to be inspected by a third-party company licensed by the City of Detroit. And pass lead paint inspections between each tenancy, and be registered with the City, and obtain a Certificate of Compliance.
“Detroit has a 25-page instruction manual for landlords. Also the city has an ordinance regulating how landlords can check and use criminal history for potential tenants.”
Read full article from Spark on their opinion of the top 10 cities where you do not want to be a landlord here.
