New benefits for rental contracts in Fayetteville

In recent hours, the city of Fayetteville approved an ordinance that primarily benefits future tenants in the city.

Normally, property management companies and landlords who want to rent out a home require, in addition to the rental application fee, that everyone who is going to take the property must undergo a background check.

According to the new law, both the rental application review and the background check will now have a total charge limit of $40. The aim of this fee reduction is to alleviate the financial stress a person faces when trying to rent a property.

Under this ordinance, landlords and real estate agencies are now required to refund background check fees if the background check is not carried out.

Another benefit of the law, for future tenants, is the ability to reuse the background check with different landlords for up to 90 days.

Data from the Fayetteville Housing Agency, in a recent publication on the housing crisis, confirmed that the city has been growing rapidly in recent years; in total, more than 10 people move there, almost always under a rental contract.

Therefore, according to the study, it is increasingly difficult to find affordable housing within the city, and more and more money is lost due to the multiple applications a person may submit in their search for suitable housing.

And while this new rule, which comes into effect in 90 days, is not the definitive solution to Fayetteville’s affordable housing problem, it may offer financial relief for many people seeking a rental property.

Available Foreclosures:

Fayetteville: 15 homes available.

By Elias DaSilva | October 17, 2024.