Any time the government wants to get into messing with the housing industry it very rarely turns out good. This bill would severely impact the rental housing market and not in a good way. As the bill has passed through committee it was thought to be defeated with the swing vote by Democrat Dylan Roberts. So the committee removed Mr Roberts from the committee. That’s probably all you need to really know about how awful this bill is.
- Small landlords are not wealthy corporations, but rather individuals who rely on rental income to support themselves and their families. The proposed law would make it much harder for them to operate their rental properties and make a living.
- The law would force small landlords to rent their properties in perpetuity at similar unadjustable terms and at similar prices. This would strip small landlords of their property rights and prevent them from being able to make any changes to their rental properties as they see fit.
- The law would require small landlords to pay tenants 2-3 times the rent in order to change the terms of the lease. This would put an unfair financial burden on small landlords, who may not have the financial resources to pay such steep penalties.
- The law could discourage small landlords from making necessary changes to rental agreements, such as increasing rent to keep up with rising property taxes or maintenance costs. This could lead to a decrease in the quality of rental units as landlords would have no incentive to invest in property improvements or upkeep.
- The law could also discourage small landlords from investing in new rental properties, as the risks associated with owning rental properties would increase while the rewards would decrease.
- There are already laws in place to protect tenants from unfair eviction practices, such as laws against discrimination and retaliation. These laws should be enforced rather than implementing a new law that would unfairly punish small landlords.
- The proposed law could have unintended consequences, such as encouraging small landlords to sell their rental properties or convert them to other uses, which could further exacerbate the affordable housing crisis.
- The law could also lead to a decrease in the availability of rental properties, as small landlords may be forced out of the market or discouraged from investing in new properties, which could make it harder for tenants to find affordable housing.
- There are alternative solutions that could address the concerns of tenants without unfairly punishing small landlords, such as providing financial incentives for landlords to make necessary repairs or improvements to rental properties.
For more information see Just Cause Requirement Eviction of Residential Tenant