Implied Warranty Of Habitability

AAA

DEFINITION of 'Implied Warranty Of Habitability'

An unstated guarantee that a rental property meets basic living and safety standards. When a tenant rents an apartment, for example, an implied warranty of habitability means that the unit will have hot water, a working electrical system, heat in the winter, lockable doors and windows, a working toilet and smoke detectors, and be free of pests like roaches and rats, among other conditions.

INVESTOPEDIA EXPLAINS 'Implied Warranty Of Habitability'

Local building codes outline the standards that rental units must meet. A landlord whose rental units do not meet these conditions is known as a slumlord. Tenants living in uninhabitable units have legal remedies to force landlords to meet their obligations.

RELATED TERMS
  1. Party Wall

    In real estate, a shared wall that separates housing units. Party ...
  2. Implied Warranty

    Under a sales contract, whether written or oral, there is a guarantee ...
  3. Month-To-Month Tenancy

    A type of rental agreement. Month-to-month tenancy is based upon ...
  4. Nondisturbance Clause

    A type of clause in a mortgage contract. The nondisturbance clause ...
  5. Owners' Equivalent Rent - OER

    The amount of rent that could be paid to substitute a currently ...
  6. Landlord

    A real estate owner who rents or leases land or a building to ...
Related Articles
  1. Personal Finance

    How A Bad Roommate Can Ruin Your Credit Score

    Living with someone can cut your expenses, but in addition to not doing the dishes, your roommate may do serious damage to your credit.
  2. Budgeting

    Take Advantage Of A Housing Crisis - Rent!

    When a housing crisis strikes, the big winners are often the renters.
  3. Personal Finance

    To Rent Or Buy? There's More To It Than Money

    Your lifestyle, level of commitment and the trade-offs need to be carefully weighed.
  4. Personal Finance

    6 Tips For Renting An Apartment

    Find out what you can do to find a fabulous apartment to fit your budget.
  5. Home & Auto

    Becoming A Landlord: More Trouble Than It's Worth?

    On the surface, being a landlord seems likes like a surefire bet, but it's usually more headache than it's worth.
  6. Retirement

    Are You Ready to Rent?

    If you think it's time to test your wings and leave your parents' nest, read on.
  7. Options & Futures

    Electrifying Apartment Bills: How To Reduce Them

    As a renter, there are still factors that can influence your heating and air conditioning bill.
  8. Credit & Loans

    Will filing bankruptcy stop an eviction?

    Learn about how filing bankruptcy can affect an eviction process, and find out what recourse your landlord has if you file bankruptcy.
  9. Home & Auto

    Can real estate agents help renters find rental property?

    Real estate agents offer renters a true advantage when searching for a new home as well as negotiating power when signing a lease.
  10. Entrepreneurship

    What do real estate investors look for in a property?

    Profit from real estate investments by either flipping homes or becoming a landlord. Learn best practices for a successful real estate investment business.

You May Also Like

Hot Definitions
  1. Christmas Island Dollar

    The former currency of Christmas Island, an Australian island in the Indian Ocean that was discovered on December 25, 1643. ...
  2. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  3. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  4. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  5. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  6. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
Trading Center