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Updated almost 5 years ago on . Most recent reply

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Aaron Burns
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Ihan Omar's free rent bill

Aaron Burns
Posted

From what I've seen on youtube, the bill contains the following:

1- Free rent for all tenants across the US regardless of income for a year

2- Landlords can file for Government assistance which comes with the following conditions

   a- No raising of rent for 5 years

   b- Government gets first right of refusal if you sell your property within 5 years

   c- You can't discriminate based on criminal background or credit on new tenants

   d- Something about the tenant getting 10% interest in your property

   e- You must accept applications from S8 tenants

3- The Feds will give money to local governments to help them buy up properties to convert to low income housing

This bill has little chances of passing but if what I read is true, this mindset is terrifying.  (don't take any of the above as gospel, it is what I've "heard" on youtube)

Most Popular Reply

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John Teachout
  • Rental Property Investor
  • Concord, GA
3,251
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3,505
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John Teachout
  • Rental Property Investor
  • Concord, GA
Replied

That's about as far of an over reach as I could imagine in my worst nightmares. I think this has "0" percent chance of being voted into law. It would essentially be establishing nationalized housing. (and property owners getting their assets ripped out of their hands.)

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