TN 4.0 hours Property Management - Course Syllabus
4.0 Elective Hours
The federal government has instituted certain laws to protect tenants. Complying with federal laws is vital for reducing risk to the property owner, creating a profitable property, and creating a successful property management business. Three federal laws that affect property management operations are: disclosure, antitrust, and tenant screening. Federal disclosure laws that impact property management include the Lead Disclosure Rule and Megan's Law. This course will explore these laws and their implications in greater detail.
The Lead Disclosure rule was implemented to protect families from exposure to lead from paint, dust, and soil. It requires the disclosure of known information on lead-based paint and lead-based paint hazards before the sale or lease of most housing built before 1978.
In 1996, the federal government passed a law (commonly referred to as Megan's Law) that requires every state to institute a registration program for people convicted of sex crimes against children. This law requires sex offenders to register with law enforcement agencies upon release from prison and notify the agencies every time they move.
If a prospective tenant or tenant asks whether registered sex offenders are living in the vicinity, the property manager should refer the person to law enforcement agencies. Some states may require property managers who know that registered sex offenders are in the vicinity to disclose this information to prospective tenants. Some states prohibit property managers from refusing to rent to people based on their registered offender status. It is important for property managers to know how the laws in their states regarding this disclosure apply to their business operations.
This course covers the federal laws that apply to property management and provides tips to stay in compliance.