With rent control and new building standards its more economical to write them off as a loss for taxes than renovate. This is where its would be ideal to give tax breaks/looser rent control to make them habitable.
Its way more eco friendly to fix what we already have in place than build new. Not that I’m against building new but if we attacked on both fronts that would be 110k homes for people vs 50k.
its more economical to write them off as a loss for taxes than renovate
There’s a simple solution for that. If a house sits empty for more than six months, it becomes the property of the city. Maybe add a provision that lets the owners surrender unoccupied houses willingly in return for a small flat compensation. Problem solved.
Becoming the property of the city will be a nightmare to deal with. Instead just crank up the property tax to 25% of the property value per year for any year the property is empty more than 6 months.
That’ll fix the issue almost immediately.
It’ll also force rents lower because you can’t afford to wait for a tenant who can pay exorbitant rents.
With rent control and new building standards its more economical to write them off as a loss for taxes than renovate. This is where its would be ideal to give tax breaks/looser rent control to make them habitable.
Its way more eco friendly to fix what we already have in place than build new. Not that I’m against building new but if we attacked on both fronts that would be 110k homes for people vs 50k.
There’s a simple solution for that. If a house sits empty for more than six months, it becomes the property of the city. Maybe add a provision that lets the owners surrender unoccupied houses willingly in return for a small flat compensation. Problem solved.
Becoming the property of the city will be a nightmare to deal with. Instead just crank up the property tax to 25% of the property value per year for any year the property is empty more than 6 months.
That’ll fix the issue almost immediately.
It’ll also force rents lower because you can’t afford to wait for a tenant who can pay exorbitant rents.