Oct 29

The liberal Times likely relished tying Trump’s policies to Michael Milken. But O Zones represent poor policy from a libertarian perspective as well. The 8,700 zones divide the nation between winner and loser communities. They replace equal justice under the law with differential treatment based on political pull. The main winners are likely landowners within the zones, not poor households.

Source: More Opportunity Zone Cronyism | Cato @ Liberty

Oct 28

Rentervention is a free service created by Lawyers’ Committee for Better Housing, Illinois Legal Aid Online and the Lawyers Trust Fund of Illinois. It shows tenants how to advocate for themselves when it comes to things like evictions and maintenance issues that get even more pressing as autumn sets in and it becomes vital for renters to settle their living situations.

Source: In A Battle With Your Landlord? Lawyers Designed This Chat Bot To Help Tenants Get Free Legal Aid – Block Club Chicago

Oct 28

I’m amazed by the number of landlords who give money or rent concessions to tenants, thinking they just settled a dispute, only to find themselves at the wrong end of subsequent claims for those same disputes.

Source: Money For Nothing: Getting The Most From Your Tenant Settlement Strategies

Oct 27

Tax breaks for helping poor communities aren’t new. But opportunity zones differ from programs like the low-income housing tax credit and others, in that there aren’t any strings attached: Backers of opportunity zone projects don’t need to create jobs or report on their progress. They’ll receive the tax credit, no matter how they deploy their money in such zones — and no one is tracking how they deploy their money.

Source: Hoping to buck the ‘tax scam’ label | Business | lmtribune.com

Oct 26

Count Dan Gilbert, the chairman of Quicken Loans and the owner of the Cleveland Cavaliers, among those called out. Investigative news site ProPublica reported Thursday that the multibillionare could benefit from wealthier parts of Detroit being named opportunity zones and may have used his influence to steer the process. Gilbert’s company responded with its own report, lambasting the news outlet, and a Quicken executive told Forbes the company had “zero influence.”

Source: After Billionaire Gilbert Criticized For Opportunity Zones, Company Blasts Back

Oct 24

Initial investment in OZs was somewhat tepid, likely due in part to perceived ambiguity in the regulations. Since the initial launch, additional guidelines have been released to better define the program. And now, potential OZ investors have a new tool intended to further clarify the geographic areas and regulations associated with OZs: the www.OpportunityZones.gov website. Launched by the White House Opportunity and Revitalization Council, the OZ website provides a single, organized source of information r

Source: The Great and Powerful (Tax Benefits of) OZ: Opportunity Zone Information Now Available in a Nationwide Website | Womble Bond Dickinson – JDSupra

Oct 22

HUD has now issued the Proposed Rule expressly to conform the 2013 Rule to the Inclusive Communities decision; as stated in the preamble, the proposed amendments are “intended to bring HUD’s disparate impact rule into closer alignment with the analysis and guidance provided in Inclusive Communities as understood by HUD.” The HUD press release accompanying the Proposed Rule adds: “The HUD proposed disparate impact rule provides a framework for establishing legal liability for facially neutral practices that

Source: HUD Proposed Amendments to Disparate Impact FHA Regulation

Oct 21

Unsurprisingly, these big incentives have sparked a great deal of interest from seasoned and novice real estate investors alike. But, in their race for riches, investors must not lose track of the real purpose of opportunity zones: revitalizing communities through the creation of social and economic opportunity.

Source: Council Post: The Revitalization Of Opportunity Zones

Oct 10

AB1482 will apply to all rent increases occurring on or after March 15, 2019. In the event that an owner increased the rent by more than five percent (5%) plus the percentage change in the cost of living, between March 15, 2019, and January 1, 2020, the applicable rent on January 1, 2020, will be the rent as of March 15, 2019, plus the maximum permissible increase.

Source: Residential Rent Control Passed In California

Oct 09

Miami Beach is on the ropes again in the city’s seemingly never-ending battle with Airbnb. On Monday, a Miami-Dade circuit judge struck down the city’s law that fines homeowners $20,000 for illegally renting their places short term on sites such as Airbnb. The city said Tuesday that it would appeal.

Source: Miami Beach’s $20,000 short-term rental fines ruled illegal | Miami Herald

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