Top Legal Issues Hounding Real Estate Managers

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The demand for property management is skyrocketing with real estate boom and a greater demand for homes, commercial properties, and industrial properties. But property managers are not without their own set of challenges, foremost of which is complying with constantly changing regulations and prevent potential lawsuits and legal problems.

There is a wide variety of legal issues faced by real estate managers today. The most significant of these issues relate to the everyday business of property management: debt collection resulting in disputes and stemming from economic factors such as retailers going out of business, residential tenants losing their jobs, and growing lease defaults. The economic downturn is pointed as a reason behind any disputes, suggesting that a weak economy is leading more to try cashing in on slips and falls.

Property managers are also facing a number of frivolous lawsuits, or meritless suits. This type of litigation is also seen to be increasing due to the prevailing economy as well as high unemployment. In anticipating future legal issues, property managers are realistic enough to cite a wide range of possibilities, from various areas of the Fair Housing Act including advertising and target marketing, as well as race, religious, familial status, and handicap discrimination.

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Continuing training and education in their ranks is deemed a good way to deal with key legal challenges, such as those governing debt collection, slip-and-fall incidents and aspects of fair housing.

Benderson Development Company Inc. has more than 60 years of industry experience. As one of the country’s largest privately-owned enterprises, the firm owns and manages more than 40 million square feet of real estate across 38 states and has received industry recognition for its commitment to service excellence. More articles like this here.