Posted in Commercial Real Estate

Notices, Disclosures and Addendums – Part 1

When you invest in rental property, it is important to understand that much of what you can do is guided by local, state and federal regulations. In many cases, these regulations provide guidance for the disclosures which must be made to all tenants. This is a matter of law and failure to make proper disclosures can result in quite a bit of legal and financial trouble, so it is always best to ensure that you have made all of the proper disclosures. 

While there are some disclosures which vary from one locality to another and it is always best to research the regulations for your own area, there are some regulations regarding disclosures that are common in most areas. 

Lead-based Disclosures

This regulation is required by the federal government. To meet this requirement you should know when your property was built and specifically if it was built prior to 1978. In the event that it was, you will need to provide a specific booklet printed by the federal government regarding lead-based paint disclosure and have the tenant(s) sign a disclosure form. The booklet is called Protect your Family from Lead in your Home and it can be obtained from the EPA; Environmental Protection agency. 

Hazardous Materials Notice

Be sure to check with your local ordinances to determine whether this notice is required. Essentially, it notifies tenants that a variety of materials were used in the construction and/or improvement of the property which may contain materials that could be hazardous or toxic. 

Stay tuned for part 2 ! In part two we will talk about Mold Notifications and Pets.

Author:

Amy Gamarra: Broker Principle of Aim Higher Commercial Real Estate Group •President of Toastmasters en Español Club #971 since July 2018 •Experience in Real Estate Since 1997 •Member of MLS / FAR / NAR / Miami Commercial •Member of CREW •Member of DREIA / BREIA •Business Administrator •Experience in Social Media and Marketing •Specialized in Office / Warehouse Leasing and Sales I have a Degree in Business Administration. I previously held Licenses in Health, Life and Variable annuities, Investments Series 6 & 63. I have attended numerous seminars that improve skills such as Sales, Leadership, Marketing, Management and Team Building techniques. On my spare time I earned an Associates Degree with Logos Christian College and Graduate School in Bible Studies in addition to Traveling throughout the United States to study Real Estate Investments and Creative Financing. People say I am very organized. I have a talent for creating business systems and strategies that make sense and are successful. My experience in Finance and Business makes Commercial Real Estate the perfect fit for me because I understand what business owners need and what they are looking for in a Commercial Broker.

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