Rent control, Right of first refusal Tues Jan 14
| . Posted in News - 8 Comments
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Thanks to our Property Rights Supporters, our early warning system has notified us of a major upcoming hearing:
Tuesday, January 14, 10:30a to 3p
State House, Gardner Auditorium
Full list of bills being heard
H.1252 An Act relative to advance rent and security deposits F. Jay Barrows H.1254 An Act relative to the modification of late fees Nicholas A. Boldyga H.1255 An Act to protect elderly tenants Nicholas A. Boldyga H.1256 An Act to guarantee tenant’s right to purchase Nicholas A. Boldyga H.1259 An Act relative to capital relief in a counterclaim Edward F. Coppinger H.1260 An Act to guarantee a tenant’s first right of refusal Daniel R. Cullinane H.1264 An Act to further provide a rental arrearage program Marjorie C. Decker H.1303 An Act relative to guaranteeing the tenant's right to purchase David Henry Argosky LeBoeuf H.1306 An Act to further protect low-income tenants following termination of affordability restrictions Joseph W. McGonagle, Jr. H.1315 An Act to preserve affordable housing through a local option tenant's right to purchase Denise Provost H.1316 An Act relative to the stabilization of rents in towns and cities facing distress in the housing market David M. Rogers H.1319 An Act requiring notice to landlords relating to gas or electric shutoffs Jeffrey N. Roy S.773 An Act supporting affordable housing with a local option for a fee to be applied to certain real estate transactions Joseph A. Boncore S.782 An Act relative to the Melinda Stewart Stabilization Act Sonia Chang-Diaz S.786 An Act to guarantee a tenant’s first right of refusal Brendan P. Crighton S.801 An Act relative to tenants’ opportunity to purchase Patricia D. Jehlen S.802 An Act relative to cimex lectularius John F. Keenan H.3878 An Act financing an emergency supplemental affordable housing bond Mike Connolly H.3880 An Act relative to problem properties and absentee landlords David Henry Argosky LeBoeuf H.3924 An Act enabling local options for tenant protections Mike Connolly H.3925 An Act enabling municipal housing agencies to enter enforceable deed restriction agreements with small property owners in good standing as part of zoning variance approval Nika C. Elugardo S.2299 An Act relative to the disclosure of smoking within a multi-residence building by lessor William N. Brownsberger S.2421 An Act further defining the purposes of the affordable housing trust in the city of Somerville Patricia D. Jehlen S.2389 An Act relative to affordable housing in the town of Shrewsbury Michael O. Moore
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By way of background, I’d be happy to speak as a Investment property owner for over 40 years, I have some experience. I consider myself a progressive, fair person. I personally know my state Senator, Eric Lesser and Representative Joe Wagner. I have attended Citizen’s Legislative Session as a nominee of my state Senator. I work on progressive issues with the Democratic Party and was this year’s Democratic of the Year for my municipality. I certainly want to leave my hardworking violinist daughter my investment properties as her means of support as she grows her studio, career and family. My husband and I have worked hard to retire and will form an LLC with our investments. We would stop providing the under market rents to qualified tenants and invest some other way. I was also a broker for a number of years. Thanks. Susan Knightly
My wife just had knee replacement surgery so i am unable to attend.
Late fees are used throughout the financial community and in this tenant friendly state are one of the few ways to incentivise tenants to do what they committed to doing.
Not allowing property owners to protect their assets in an LLC or provide for their heirs is an extreme abuse of their authority.
Many of these measures which seem on the face to give more and more to tenants who have more votes than landlords will have a negative impact on the housing market.
thank you so much for following this issue, I have been in Europe for the past month and won’t be back until the end of the month or I would help.
I’m not available to get to Boston for the hearing, but I would like to comment on Rent Control and Right of first refusal.
I have owned a smaller construction company for over 20 years and my wife and I have 11 children and still have 6 of them still living at home. We have 1 child who just graduated from college, 1 child in college, 3 children in high school, and 1 child in middle school. We are buying investment properties to supplement our income, secure our retirement and want to be able to leave those investments to our children, which is the point of working this hard to make these investments.
I believe rent control and first right of refusal would totally undermine the value of these investments and would force us to look at different investment options. I also believe rent control and first right of refusal would drive the smaller landlords from the market who tend to be more invested in their tenants, and leave the large rental companies in the market who are not nearly as invested in their tenants. Thanks, Jeff Bergeron
This is a terrible concept, especially for the landlords outside of major metropolitan areas that are struggling with lower income (workforce) tenants that fall outside of assistance levels. Those of us that put our blood, sweat, tears, and money into our units have to be able to rent, sell, and improve at the rate the local market dictates. The ownership and management of rental property is rarely the same scenario from one situation to the next, from the elderly duplex owner that has had their property since they were just out of college and uses their rental to supplement inadequate social security payments, to the large property owner who has employees and this is their profession. Please consider the broad scope of this market when making your decisions.
Regarding rent control, when the marketplace falls under artificial control (monopolies or government), everyone loses money, even the people who government policies are allegedly intended to help. Regarding the right of first refusal, what right does someone who happens to move in some year have to property for which I have worked over the course of decades? There are many opportunities for such tenants to buy their own if they so wish.
I would like to but am unable to attend. Lease send some talking points and info on who to email on Beacon Hill (rew? Senator? Mine versus others) thx!