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I am just wondering if there is an exact number of years that a landlord in Pennsylvania has to keep records on a tenant and the house they own and are renting. This is a question that would also deal with a lawsuit over the landlord's house.
Also, would anyone know how long the PA HUD office is required to retain records? Specifically, a certain house/tenant?
If anyone has any answers on this, please let me know. Thank you.
In Florida a landlord doesn't have to keep any records passed the lease term regarding tenant/landlord but for tax purposes it is usually required to save records for 5-7 years which is only for financial records.
A private owner doesn't have to keep the lease agreement passed the move out time if everything is settled between parties but it will be smart to keep records longer.
For a realtor it is a different case but we don't have to keep every paper in the file. If the owner and management go their separate way than we only maintain certain papers.
In your State it maybe different but I doubt it. This is usually not in writing in tenant/landlord law which means it is more for tax and other financial reasons that it is better to keep records longer.
I probably should be a little more clear. This landlord owns a real estate agency, but owned a certain home for quite some time (over 20 years). They sold this home through their agency and now there's a lawsuit involved with that house. But, of course, all the records are gone. I just wondered, for my own sake, how long in PA a landlord, real estate agency, and HUD had to keep records.
I probably should be a little more clear. This landlord owns a real estate agency, but owned a certain home for quite some time (over 20 years). They sold this home through their agency and now there's a lawsuit involved with that house. But, of course, all the records are gone. I just wondered, for my own sake, how long in PA a landlord, real estate agency, and HUD had to keep records.
Pretty much what bentlebee said. There is a statute of limitations on filing lawsuits so find out what your state says about that and retain records accordingly.
I probably should be a little more clear. This landlord owns a real estate agency, but owned a certain home for quite some time (over 20 years). They sold this home through their agency and now there's a lawsuit involved with that house. But, of course, all the records are gone. I just wondered, for my own sake, how long in PA a landlord, real estate agency, and HUD had to keep records.
It may be prudent and a good business practice for a landlord to keep records at least until the statute of limitations has expired, but I'm not aware of any "law" requiring one to do so.
I recall an architectural firm where i worked was advised by their attorney that any records they kept would be more likely to be used against them rather then benefit them, if there were to ever be a lawsuit. So there is no "legal" incentive to keep them if they are not useful to you in some way.
I probably should be a little more clear. This landlord owns a real estate agency, but owned a certain home for quite some time (over 20 years). They sold this home through their agency and now there's a lawsuit involved with that house. But, of course, all the records are gone. I just wondered, for my own sake, how long in PA a landlord, real estate agency, and HUD had to keep records.
What type of records are you referring to? Deed? Sale contract?
I probably should be a little more clear. This landlord owns a real estate agency, but owned a certain home for quite some time (over 20 years). They sold this home through their agency and now there's a lawsuit involved with that house. But, of course, all the records are gone. I just wondered, for my own sake, how long in PA a landlord, real estate agency, and HUD had to keep records.
Real Estate offices in Florida have to maintain all records for 5 years for sales records and contracts.
That doesn't incl. all rental documents. The lease and contract between owner and office will need to be kept on file but not all repair bills, rental applications.
If there is a lawsuit and contracts have not been kept for the minimum time frame which I believe is usually 5-7 years than the real estate office can be in trouble and the party who has the proof on their side may have an easy win.
More like maintenance records and such. I'm sure for the situation I'm in, the landlord has "gotten rid" of everything.
Also, wondered about HUD records. Tenant complained of mold and landlord never did anything about it (except sold the house).
Thank you to everyone who responded. Appreciated.
Oops that is a different issue. If no mold disclosure was given while the owner was aware of it and the tenant will show up in court to testify and not just because the tenant didn't get along with the property manager and therefore will lie under oath....but based on facts and it can be proven than the owner will lose their case. If that owner is a realtor than a separate case can be filed due to an ethics issue for not disclosing a material fact.
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