Landlording needs to be less lucrative than a private mortgage or land contract. Jack up the taxes on all residential properties, and grant steep exemptions for owner-occupants only.
Read my comment again: I am trying to eliminate the concept of renting. Practically nobody should be renting residential property, or property used as a residence. A hike on rent prices would be a good thing, as it would drive tenants away from renting and toward the better option I have been alluding to.
Tax discounts to lower rent prices only incentivize the worst, most negligent slumlords, in a race to the bottom for housing quality. That is not a viable long-term strategy.
I want to replace “renting” with “land contract”.
A land contract is a type of purchase agreement that starts off similar to a rental. They aren’t used very often because they are somewhat complex, and they put a lot of power in the hands of the buyer/tenant rather than the seller/landlord. Land Contracts have a fixed monthly price: there is no year-to-year price hike.
Most importantly, they gain equity for their tenant/buyer.
True. I would only allow the exemption on 1-4 unit properties. I would allow an on-site landlord to rent out the remaining 1-3 units without losing the exemption.
Renting should be a wildly atypical housing arrangement. “Land Contracts” should replace virtually every circumstance where renting currently makes sense.
Rent. Rent needs to die in a fire.
Landlording needs to be less lucrative than a private mortgage or land contract. Jack up the taxes on all residential properties, and grant steep exemptions for owner-occupants only.
Jacking up taxes jacks up rental prices
Rent control has worked, but it stopped those places getting needed maintenance
My town is trying land tax discounts to landlords that rent out their place sufficiently below market rate
Read my comment again: I am trying to eliminate the concept of renting. Practically nobody should be renting residential property, or property used as a residence. A hike on rent prices would be a good thing, as it would drive tenants away from renting and toward the better option I have been alluding to.
Tax discounts to lower rent prices only incentivize the worst, most negligent slumlords, in a race to the bottom for housing quality. That is not a viable long-term strategy.
I want to replace “renting” with “land contract”.
A land contract is a type of purchase agreement that starts off similar to a rental. They aren’t used very often because they are somewhat complex, and they put a lot of power in the hands of the buyer/tenant rather than the seller/landlord. Land Contracts have a fixed monthly price: there is no year-to-year price hike.
Most importantly, they gain equity for their tenant/buyer.
Be very careful with the wording of those exemptions, or you’re going to have an owner living in a tower with 230 roommates.
True. I would only allow the exemption on 1-4 unit properties. I would allow an on-site landlord to rent out the remaining 1-3 units without losing the exemption.
Renting should be a wildly atypical housing arrangement. “Land Contracts” should replace virtually every circumstance where renting currently makes sense.