Introduction and Registration
This landlord education program was developed by a HUD approved agency and only offered by HUD approved housing counseling agencies. This online course through LandlordCert.org or similar training is a requirement by some lenders for purchasers of two- to four-family homes in order to qualify for mortgage financing.
HUD sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Housing counseling and education classes like the class offered at LandlordCert.org work. Clients who received counseling and education from HUD approved agencies are less likely to become delinquent than similar borrowers who do not receive pre-purchase counseling and education. This Landlord course is intended to be an “add-on” to your local agency’s First Time Homebuyer Counseling efforts.
We want you to succeed as a landlord and this multimedia presentation is offered to help you understand the risks and responsibilities involved with being a landlord and provide you with the tools to be a success.
This multimedia presentation is not intended to substitute for the professional advice of attorneys, tax preparers, public officials or others. Federal, state, and local laws prevail over the information provided.
When you buy a home that can house several families and start renting units in it to others you become a “landlord”. While this role will entitle you to collect rents, select the people that will live side by side with you and should lead to tax benefits, it also comes with certain important responsibilities. This course will focus on both the advantages of being a landlord as well as the duties and laws that you must follow to be successful.
We will discuss many topics in this presentation, such as the requirement to make the units habitable, the need to follow federal, state and local landlord/tenant laws and how to manage your property within a budget. We will stress the need to keep accurate records documenting both the income you collect and the expenses you pay. And all the while, you’ll be responsible for making timely mortgage payments — whether or not your rental units are occupied and whether or not your tenants pay their rent on time.
The presentation is divided by sections, they are:
- The Purchase Decision and Responsibilities
- Finding Tenants
- Your “JOB” as a Landlord
- Maintaining your Home and Rental Units
- The Business of Being a Landlord
- Ending Rental Tenancies
You must complete the following registration below to earn the certificate of completion that is required by your lender.