Nashville said no and it tanked condo prices in the city. They revoked short-term rental permits from everyone. Now they are allowing some buildings to be built where the entire building is short-term rental eligible. The units aren’t selling well at all. I’m not sure people trust the permits will be permanent.
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Just the wording of tenant protection is telling. It’s really a removal of property owner rights.
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What is the update? Did the Supreme Court take the case?
I don’t see anything in the news about this case today. Any one know what happened?
Nada…lazy bums!!!
What a freaking joke…
See??? Free rental markets are the way to go!!!
Javier Milei Got Rid of Rent Control in Argentina. Housing Supply Skyrocketed - Newsweek
I read 2 pieces of news today. One was state farm received approval to jack up rates and the other one was liberty mutual set to drop 17k properties from coverage. The news emphasized that the homeowners didn’t do anything wrong but are on the receiving end of the penalties (higher rates or non-renew). They featured homeowners telling reporters on camera of their experience and the financial hardship this causes through no fault of their own.
Upon hearing this last sentence it suddenly dawned on me that it’s actually very easy to fix the insurance problem. Just implement insurance control and all will be well. If there is no fault of the homeowner the insurance company should not be allowed to non-renew, or it should pay the homeowner for them to “relocate” their policies to other companies. Having insurance coverage is a basic human right after all, because housing is a basic human right and no insurance no housing.
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For those who are still in the rental business:
Don’t have any rental in NY.
I was renting an apartment for my daughter and came across a reasonably priced one. One bedroom one bath 800 sq ft for $2345 Reasonably priced for this area. The landlord was clear what the rent was. But when i looked at the lease there was a typo. It stated in a few different places that the rent $1795 per month. What would you do? I was thinking about getting legal advice but that is expensive nowadays.
If that area has a rent board I would contact it for advise since that would be free. The thing is, you have a verbal agreement on the rent amount (which is higher) but the follow-up lease had the wrong rent amount. Did the landlord sign the lease yet? If not, I would think it is not a binding contract anyway (yet).
Interesting scenario. Let us know what happened.
Yes the Manager did sign it already. I’m only thinking about it because it’s a big complex and they wouldn’t miss the money that much. if it was just a mom and pop operation i wouldn’t do it. By the way they have an online payment service they use. I am thinking of waiting the 1/1/25 and seeing what they bill me for.
Ok, since it is a big company I tend to think the other way, they want every penny!!! So, my thinking is, they will fight you tooth and nail for the true rent price. But yeah, let’s see if you get a nice New Year gift of lower rent.