Proper Tenant Screening and Legal Changes: Harbor Property Management’s March 2024 Report

In the dynamic world of property management, keeping abreast of the latest industry changes is essential. At Harbor Property Management, we’re committed to providing you with the most current insights and updates. As we enter Spring 2024, here are some key updates that property managers, real estate investors, and landlords should note:

• Capped Tenant Screening Fees: The new cap for tenant screening fees is now $62.02. It’s crucial to ensure that these fees only cover the cost of the credit report and the time spent on processing the application.
• Introduction of Reusable Credit Reports: Applicants can now use reusable credit reports, which can be shared with multiple landlords over a 30-day period. If you accept these reports, charging a screening or application fee is not permissible.
• Legislative Update – AB2216: Sponsored by the Humane Society and Assemblyman Matt Haney, AB2216 seeks to remove additional fees for pet rent and prevent blanket bans on pets in rental housing. This change may require property managers to revise their current pet policies.
• Advice for DIY Landlords: The importance of having a clear and documented rental criteria cannot be overstated. This is essential in preventing discrimination complaints and ensuring a transparent application process.

Conclusion

At Harbor Property Management, we strive to keep you informed and prepared for these changes. Adapting to these new regulations and practices will ensure your continued success in the property management industry. For more detailed insights and advice, feel free to contact us directly. Let’s navigate these changes together and set a new standard for excellence in property management.