Three legislative bills passed during Q2 2018 that will impact rental property owners. These three bills either directly affect landlords because they are national policy or may affect landlords in the future, if their state decides to follow suit and pass similar legistlation.
- The Economic Growth, Regulatory Relief, and Consumer Protection Act
This bill was commonly referred to as the “Dodd-Frank Reform Bill.” It was signed by President Trump at the end of May and, among other things permits consumers to place security freezes on their credit for free. This may affect tenant screening data. The bill also included verbiage on Section 8 rental housing voucher programs and the types of inspections that may be required for Section 8 housing providers.
- Arizona’s Landlord-Tenant Act
The latest update to Arizona’s Landlord-Tenant Act makes it so landlords are no longer responsible for storing “perishable items, plants, and animals on behalf of the tenant,” if the tenant abandons that private property. Under this updated law, Landlords also may dispose of abandoned property that represents a health-and-safety risk and charge the tenant for the cost the disposal.
- Georgia’s Lease Termination Under Family Violence Circumstances
The bill allows tenants in Georgia to “terminate a rental lease agreement in order to escape family violence” starting in July of this year. The tenant remains responsible for prorated rent owed prior to the termination.