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.
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.