Collecting first and last plus deposit makes for a respectful tenant; if we draw too much attention legislators will take that away.

Most importantly, how might someone new strategize to get into a high-priced market if this legislation passes?

Even moreso, he sees the old barn as significant potential in that, because the legislation grandfathers in these old barns, he could do a solid rehab on the barn, turn it into a livable space and potentially live in it himself (or maybe have that be the rental and the tiny house his own!)

New York State enacted revenue legislation effective July 1, 2019, which increased the Mansion Tax rates in these municipalities (currently only New York City meets the population criteria) using a gradual sliding scale based on the total "consideration amount”.New York City Mansion Tax Rates for 20211.00% for purchases $1,000,000 to $1,999,9991.25% for purchases $2,000,000 to $2,999,9991.50% for purchases $3,000,000 to $4,999,9992.25% for purchases $5,000,000 to $9,999,9993.25% for purchases $10,000,000 to $14,999,9993.50% for purchases $15,000,000 to $19,999,9993.75% for purchases $20,000,000 to $24,999,9993.90% for purchases $25,000,000 or greater>> Now Pay attention here.

Long story short, i lost that battle because of “legislative intent.”

Michigan legislative code says a lessor can't change the terms of the lease without the renters written consent.

All these companies love restrictive legislation, because it always favors large corporations. 

At the state level, ADUs are very much supported in California, with new legislation in effect since last year that essentially forces cities to allow new ADUs and garage conversions on most residential properties.

FYI...On March 22, 2021, the Baltimore City Council passed legislation that mandates changes to all residential leases and impacts when late fees may be imposed.Specifically, the law, entitled “Late Fees for Past Due Rent,” provides that “a residential lease shall include a provision that the landlord may not apply late fees to the rent until the tenant is more than 10 days past due with the rent.”As drafted, the above provision is required to be included on all residential leases in Baltimore City, whether or not a late fee is actually contemplated by the lease unless a statutory exemption from the lease requirements applies, e.g., it does not apply to leases for rental units within an owner-occupied residence.If a residential landlord seeks to impose a late fee for delayed or nonpayment of rent, the lease:must include a provision that prohibits a landlord from applying a penalty fee for late payment of rent until:(i) The tenant’s payment of the rent is more than 10 days late; or(ii) The tenant has received the tenant’s regularly scheduled government benefit disbursement if the tenant has previously provided the landlord with written notice that shows the day of the month the government benefit is normally issued or mailed is later than the day on which the rent is due.The Late Fees for Past Due Rent Law, which was signed by Mayor Brandon Scott on March 31, 2021 and becomes effective on April 30, 2021, only applies prospectively to new leases and shall not have retroactive effect on leases entered into prior to April 30, 2021.

The bill was discussed at length today on the Senate Floor where many amendments were made.Many of the amendments came to fruition thanks to the Colorado Association of REALTORS® and our dedicated advocacy team who voiced the need to balance the relationship between the tenant and housing provider to protect housing affordability and keep new legislation consistent with existing landlord tenant laws.