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A GREAT win for the people! A preemptive measure to fight back against the “you’ll own nothing and love it” overlords. Realtors are conflicted out on this matter. Should someone(s) be investigating who within the state government does NOT see reasoned limitations as positive for all, and why?. This never used to be an issue. So, why has it recently become one? Follow the money….
It’s a dishonest way for people who can pay the rent but cannot afford the down payment to be discriminated against. We all know what it’s really about; YOU don’t want THOSE people in your neighborhood.
Dominic — I highly doubt that you’ve been subject to trashy neighbors. The only dishonest thing about it is that the quants, LLCs, PE, and general scumbags with a handful of cash, all seem to descend on affluent neighborhoods and then bland things down to a point that there is zero personality — zero community — and zero accountability.
If it weren’t for boomers being fiscally irresponsible in the oughts, maybe all those rules that were put back into place after the recession wouldn’t need to be there. However, that isn’t the case and people have to save craptons of cash to buy a house — like I had to — then those buyers truly understand what’s at risk… not some Rent-a-room landlord who’s only looking at a steady cashflow.
I’ve had crap renters around us — slum lord Larry and his trash, Colonel Mustard and his house of utter chaos, the rental of constant repair, and at least 16 other places in my neighborhood that seemingly degrade the experience that we owners moved here for… Take your reverse bigotry and shove off. It’s not about “those” people (as you say), it’s about community and keeping thing reasonable for all…
So Chris H.; your position is renters are trashy people. Like we thought; an administrative enforcement of bigotry.
Dominic — nope…most of the renters around us are just trying to make their way. Out of state Landlords and the PE people who do zero for upkeep, they’re trash. Those who insinuate racism are just as trashy as those who ARE racists…you know — your proposition that everyone who owns a home in Fishers is biased against renters and put a “THEY” in the argument.
Perhaps each legislator should have a rental on each side of them.. Especially if it is used for Airbnb or one of those. They will then realiza a true need for control. People buy homes for the quiet enjoyment with family and neighbors, not for transients or those with no stake in the property.
I live in a neighborhood with 1 renter in total, the neighborhood across the street is all rentals, the difference in quality of the 2 could not be more stark…
Why not hold home owners responsible for maintaining their homes. That seems to be the issue. Whether the owner lives there or rents it out, they should be held responsible.
Exactly, I have nothing against rentals if the property owner keeps the house in good repair and looking clean and well kept. We live in the village of Zionsville and work hard to maintain our property which we own. However there is a house behind us that is a rental, been empty for years, and looks terrible, It has a dilapaidted rusty pickup truck sitting in the back yard. There are many rental properties in the village which are very well maintained and cared for. It always the exception that forces the rule.
Thank you Fishers council for making the hard decision that will protect the future of the city and it’s citizens. This is wonderful news. For those who are concerned about renters, this is a win for them too. More attentive, local landlords instead of out of state groups creating slum like conditions.
I had an out of state investor landlord rental next door to our home for 30 years until we moved away from it . It had a dangerous tree next to my house . We could not find out who owned that house to notify them about that tree and the huge poison ivy vine on it .When it did rarely have a tenant , no one stayed there more than a few months . they did not know who the owner was . They sent rent payments to a rental broker at a P.O. Box in Arizona . The lawn did not get mowed when it was vacant .
I can’t wait to see the legislature override this nonsense.
We all wonder why housing is so expensive in this country. This is why. NIMBYism at its worst.
This isn’t NIMBYism. Out of state investors have gotten out of control and priced out middle to lower income families. Without caps, we’re in a situation where they can continue to amass large quantities of properties that they do not upkeep. Additionally, a SFH from an out of state investor shows higher rates of rent increases. This gives renters a chance to rent at lower rent amounts while simultaneously making SFH less attractive to private equity so actual hoosiers can be the owners and not some corporation.
Actually, allowing venture capitalists and other out-of-state owners to snatch up all the local real estate is a big reason why housing has become so expensive in this country. This is a tough situation… opponents are correct that it limits the rights of local property owners, and that is concerning. But at the rate we are going in this country, the American Dream will soon be out of reach for the vast majority of Americans. Indiana used to have home values that very slowly appreciated and virtually never crashed, and we affordable for many. Now, many people will never be able to afford homes, and we are at risk for a crash. This may not be the best answer, but it’s a start.
Finally some common sense legislation that benefits the working class. Indy needs to adopt this as well to keep BlackRock and vanguard from owning 1,000’s of single family homes. Working in the multi family rental business for the past 15 years I can say that even good landlords will only do the bare minimum of maintenance on rentals. This decreases the demand for single family houses which should lower the housing prices.