Ballard Spahr LLP’s Post

Rent Control is not a partisan issue. Jason Furman, who served as a top economist in the Obama administration and is now a professor at Harvard, noted in a recent Washington Post article that "Rent control has been about as disgraced as any economic policy in the tool kit. The idea we'd be reviving and expanding it will ultimately make our housing supply problems worse, not better" .  And earlier today, President Biden asked Congress to enact nationwide rent control legislation (we will post details on that later today). Rent control in any form is bad for housing and President Biden’s tax plan to cap rents at 5% on existing multifamily properties will worsen the housing affordability crisis by discouraging construction of new rental housing units at a time when the nation is experiencing a shortfall of 1.5 million housing units. Ample research has proven repeatedly that mandatory rent control is a failed policy that does nothing to alleviate the root causes of housing affordability issues — namely the fact that our nation’s housing supply has not kept pace with the needs of our growing population. Rent “stabilization” disincentivizes rental multifamily housing investments across markets, particularly in low-income communities that already often have few affordable options. Moreover, rent regulation is not equitable, as it does not target lower- and moderate-income renters that are in most need of assistance, support and stability. Instead, it incentivizes current renters to remain in place for longer periods of time and disincentivizes additional investments in housing, thereby limiting opportunities for others who do not have access to the rental housing market in favor of those that already do.

Minnesota Realtors filtering out the noise. Here’s the latest

Provisions in #NewYork's budget aim to help improve the #affordablehousing crisis in #NewYorkCity. #RealEstate attorney Alexander Lycoyannis, who focuses his practice in real estate-related #litigation, was quoted in a recent Law360 article about an agreement that would reinstate the 421 #taxcredit for multifamily #housing along with adding "good cause" eviction protections. Read more: https://bit.ly/3vO5lDI

Florida Senate Bill 4-D will have a significant impact on condos, regardless of location or age. As an association, you must analyze its specific financial implications before acting according to the new laws. That may mean going into a deconversion, receivership, or construction/repairs. Our team has the knowledge and experience you need to see where things stand and make informed decisions about what steps to take next. Schedule your initial assessment today: https://bit.ly/3M76F9C #SB4DBill #CondoTermination #CondominiumAdvisoryGroup

New Real Estate Settlement: Transparency in Compensation Agreements Learn about the recent settlement between the National Association of Realtors and Missouri plaintiffs that enhances transparency in real estate compensation agreements. Discover the changes to listing agreements and the importance of clear disclosures for all parties involved. #RealEstate #Transparency #Realtors #ListingAgreements #Compensation #MarketChanges #RealEstateNews #Disclosure #MissouriSettlement #NAR #jackiecavadarealtor #Touringshowingrepresentationforms #showyourvalue

Here's a summary of recent California real estate changes, including AB 968 (mandating disclosure of work within 18 months of ownership) and AB 1280 (requiring sellers to disclose property location in high/very high fire hazard zones). https://lnkd.in/gE4-qCDe

New reform in property tax lien foreclosures could significantly impact NYC real estate! Book a call: https://lnkd.in/eeyqAsit #nyc #realestate

Key Takeaways: 🏡 In Michigan, a written lease agreement is mandatory for residential properties. 📝 Ensure your lease includes all necessary details, such as information on security deposits and rent adjustments, in compliance with state laws. ⚖️ Mistakes in lease agreements could result in legal conflicts and financial setbacks, so it's crucial to thoroughly review and adhere to Michigan's regulations. Learn more in this 2024 guide: https://buff.ly/3Uht1JO #DetroitRealEstate #DetroitInvestment #DetroitROI #DetroitPropertyInvestment #DetroitREI

Do you know about Georgia’s new Transfer on Death Deed for real estate? Enacted into law this past July 1, it could be very helpful for individuals and families setting up or reviewing their estate planning. Got questions? I’ve got answers… #TOD #estateplanning #feeonly

Georgia Squatter Reform Act Summary: Governor Brian Kemp's recent enactment of the Georgia Squatter Reform Act introduces stringent penalties for property squatting. Under this law, unauthorized occupancy without the owner's consent is now classified as a high and aggravated misdemeanor. Capstone's Commentary: This legislation provides additional legal framework to support property rights, offering multifamily property owners in Georgia a streamlined approach to addressing squatting incidents. With squatting cases on the rise in urban areas, this law is a timely intervention that can reduce legal complications and associated challenges managing bad debt. Article: Georgia Gov. Brian Kemp signs Georgia Squatter Reform Act into law - Atlanta Business Chronicle (bizjournals.com)