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|It is unfortunate, but perhaps not surprising that most landlords make
mistakes. The nature of landlording guarantees that all landlords no
matter how knowledgeable, experienced, and careful they might be, will
occasionally make mistakes. These can result in (1) significant
reduction in rents, (2) greatly increased expenses, and (3) lawsuits
and/or fines. Some mistakes only cost a month or two of rent. Other
mistakes can potentially cost (1) many thousands of dollars, (2) loss
of a property, or (3) even oneís entire net worth.
Some landlords make many relatively minor mistakes on a regular basis and some landlords occasionally make serious mistakes. Fortunately for these landlords, they do not have to pay for most of their mistakes. This is for a number of reasons, but mostly due to the fact that most tenants donít recognize the mistakes and if they do, they choose to ignore them.
However, we should expect the odds to change as tenants become more knowledgeable about their rights and as government continues on the road to increasing tenant rights at the expense of landlord rights.
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