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Old 12-23-2014, 03:14 AM
 
434 posts, read 296,864 times
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I read over in the Minnesota forums that they are considering a rental ban after X amount of houses are rented in a neighborhood you can't rent anymore houses out. Preventing neighborhoods from going to mostly all rental houses.

"Rental Density Ordinances" which say only a certain number of houses on any block can be rentals and once that limit is met, you no longer have the right to rent your own house.
Minnesota's first in the nation Rental Bans

I like it because too many people are too darn lazy to stick it out and sell their house and go through the house showings and open houses. They want to pick up and leave and rent it out without any regard what that does to a neighborhood and the people in that neighborhood. It lowers the property value of all the other houses in the neighborhood.

I want to get your thoughts! Are you in favor of something like this or against it?
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Old 12-23-2014, 08:20 AM
 
Location: Keosauqua, Iowa
9,181 posts, read 16,649,166 times
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Don't they have ordinances in the city code requiring that properties be maintained to a certain aesthetic standard? I know they have in all the towns I've lived in, and I have lived in some pretty small towns (40-1000 people).

I think I'd be more concerned with an abundance of vacancies because the supply of houses for sale is greater than the number of buyers and the owners can't rent them out even temporarily while trying to sell.
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Old 12-23-2014, 01:58 PM
 
4,668 posts, read 6,113,139 times
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Bans are bad mm'kay.

You could be a conspiracy theorist and say that a limit on rentals would force more people to buy and that would cause less housing stock and that would cause property value to rise and higher property values = more property tax = more money for the city...Limits on rental numbers is a ploy to raise money for the government, and the government is controlled by the illuminati.
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Old 12-23-2014, 02:00 PM
 
4,668 posts, read 6,113,139 times
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I read somewhere that the Illuminati doesn't want people renting houses or something.
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Old 12-25-2014, 07:24 PM
 
Location: Arizona
5,942 posts, read 5,300,762 times
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I live in a 55+ owner occupied only condo development. I wouldn't have it any other way.
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Old 12-25-2014, 07:35 PM
 
Location: CA
1,571 posts, read 1,963,786 times
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IMO, generally, these things disregard private property rights. Why own it, and be responsible for it, if my choices are otherwise limited, or dictated, by others? I'd prefer owning stocks or something, vs real estate, if that were the case.

Established places, such as condo complex, or other identified neighborhoods that concur with CC&R's before buying there is one thing. They are all 'buying into' organization regulations and costs of such.

Outside of that, I think we should actually regard private property rights more so than we tend to today. It's a founding concept of the United States, that is diminishing.
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Old 12-25-2014, 07:38 PM
 
Location: Silicon Valley
18,094 posts, read 22,952,534 times
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Quote:
Originally Posted by Zelva View Post
IMO, generally, these things disregard private property rights. Why own it, and be responsible for it, if my choices are otherwise limited, or dictated, by others? I'd prefer owning stocks or something, vs real estate, if that were the case.

Established places, such as condo complex, or other identified neighborhoods that concur with CC&R's before buying there is one thing. They are all 'buying into' organization regulations and costs of such.

Outside of that, I think we should actually regard private property rights more so than we tend to today. It's a founding concept of the United States, that is diminishing.
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Old 12-26-2014, 07:33 AM
 
3,492 posts, read 4,955,637 times
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Banning after a certain number move out creates some very reluctant sellers (that wanted to be landlords instead) which can further damage property values. Further, it creates a guarantee that there won't be more rental houses which encourages investors to buy up properties during development to turn them into rentals which ensures that the landlord opportunities don't go to former residents.

I'd say this plan is going to fail on multiple metrics, even if they cherry pick statistics to try to make it look like it is succeeding.

PS. I'm a financial analyst covering the REIT sector, so I actually know the **** I'm talking about.
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Old 12-26-2014, 10:09 AM
 
13,237 posts, read 17,776,004 times
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We had HOA requirements of leases of a minimum of one year.
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Old 12-26-2014, 11:20 AM
 
Location: Long Neck,De
4,792 posts, read 6,790,286 times
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Quote:
Originally Posted by thinkalot View Post
I live in a 55+ owner occupied only condo development. I wouldn't have it any other way.
That is fine because I am sure the rules were in place when you bought. How about a long term homeowner in this town who needs to convert their property to rental for some personal reason?? Is it fair to change the rules on them??
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