How Long Do Landlords Need To Keep Documentation On Tenants?
Question
I’m wondering how long I must keep documentation related to operation of my rental home?
Answer
Landlords need to keep records related to every vacancy for at least the length of time when they might be relevant to defending against an alleged fair housing violation or against a lawsuit from regarding any other issue related to a current or former tenant.
The required retention period varies because the time allowed for filing of fair housing claims or of a lawsuit varies among states as well as between federal and state agencies. It can depend on a specific state statute or by the general statute of limitations laws applicable to the potential cause of action. The length of time typically varies from 2 to 5 years among the states and may vary with the issues involved. Accordingly, it is best to keep records longer than the maximum period required by any statute of limitations regarding any potential issue or by the regulations of any relevant government agency.
Records retained must include all records related to all applicants, current tenants, and past tenants. This includes advertising copy, sign-in books for open houses, phone logs of inquiries, returned applications, all types of screening reports, lease agreements, rent payment records, maintenance records, and letters and notices to and from applicants and tenants. Retaining the documentation will help ensure that the landlord is best able to defend against a lawsuit for any complaint charging housing discrimination or for any other disputed issue.
For property managers, who are regulated by a state licensing agency, the records which must retained and the period of time for which various records must be retained are defined by state statutes and/or regulatory agency regulations and the required periods may be different than for unlicensed landlords managing their own properties.