Information on Investing in Property in West Virginia
West Virginia provides a variety of opportunities to invest in property, though laws regarding tenant rights will affect these investments. The state further offers viable real estate networking to help familiarize yourself with the West Virginia investment climate.
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Investment Clubs
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The Real Estate Investment Association is a nationwide network of clubs that are locally organized. Its goal is to provide real estate entrepreneurs with networking opportunities and local investment resources. The service can be used to find jobs in real estate investment, list properties for sale and get advice from other investors. The West Virginia chapter organizes weekly meetings in different parts of the state and provides up-to-date information on legislation affecting the real estate investment community.
Landlords
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The West Virginia REIA partners with the West Virginia Landlords association (WVLA). The WVLA is a network of landlords in the state that provide support for one another in landlord/tenant disputes and making sure landlords have a voice in the legislative process. Its mission statement is to "To assist all West Virginia Landlords to network together, to be recognized and sought after for advice on landlord/tenant issues by governing bodies that is backed by our payment of millions of dollars in property and business taxes." You do not need to be an active landlord to participate in this community.
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Tenant Laws
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The state of West Virginia has the motto that "Decent Housing is a Right." To comply with this motto, West Virginia statutes require its landlords to treat their tenants fairly. Tenants in the state of West Virginia have the right to the security deposit at the end of the year and to file a complaint against a landlord with state agencies such as the department of health and local code inspector. The West Virginia housing guide provides a full description of tenant rights in West Virginia (see Resources).
HUD
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The Department of Housing and Urban Development (HUD) is a government agency that regulates the ownership and access of housing for low-income households. HUD has a chapter for West Virginia, and homes bought through HUD are typically offered at a discount and need to be rented to tenants who meet HUD requirements for household income. HUD homes for sale in West Virginia can be found at its website (see Resources).
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