Congratulations, you’re a landlord – Now what?

Editor’s Note: Clifford P. Parson is a member of the Real Estate and Real Estate Development Practice Groups at Ward and Smith, P.A. So you took our advice (“Prudent bidding on real estate at a foreclosure sale”). You found residential rental property in foreclosure and you invested. What’s next? Some recent changes in residential landlord-tenant law have made it more important than ever to know just what you have gotten into. Residential Versus Commercial Rental Property In North Carolina, commercial landlords and tenants are presumed to know their business, and so the law takes a “hands-off” approach and lets...

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