LEGISLATIVE UPDATE

There is a storm brewing in many states and at the federal level that could severely impact affordable housing and the rental housing industry that is meant to organize, unionize and politicize our industry.

On January 9th, Sen Elizabeth Warren (DMass.) and Rep Jamaal Bowman (D-NY) sent a letter to President Biden to take action on surging rent prices. The letter urges many action steps that would ultimately create Nationwide Rent Control. This was signed by 50 Legislators.

There was a follow up letter from the leaders of many real estate industry associations like NAR, NAHB, NAA and more, urging caution and focus on creating more property.

See both letters on the MAREI blog at MAREI.org/Nationwide-Rent-Control

Then on January 25th, the White House issued a statement of the many actions they plan to take through federal agencies, not Congress, that stops short of Nationwide Rent Control

FTC & CFPB to study unfair background screening checks and source of income

CFPB also doing more on credit checks and unreasonable screening procedures

FHFA will investigate actions to promote renter protections and limit on rent increases Plus a blueprint for a Tenant Bill of Rights.

Many industry organizations made public response to this White House announcement

See the statement and links to many industry associations responses at MAREI.org/White-House-Announcement

Locally in Kansas and Missouri our legislators are busy proposing a lot of new regulations. We are tracking those that are important to the real estate industry at MAREI.org/Legislative

In Missouri, we have several bills that we are watching including Missouri Fair Housing Act, Immigrant Tenants, Land Banks, Home Improvement Contractor Licensing, and Home Inspections before you can sell a house. The Bill that is getting the most traction however is HB 730 "No county, municipality, or other political subdivision shall impose or enforce a moratorium on eviction proceedings unless specifically authorized by state law."MAREI.org/Bill-Tracking-In-Missouri

Kansas is not quite as prolific in proposing bills as Missouri. We only have a few Bills to keep our eye on. We have two that we have large interest:KS HB2083: Prohibiting municipalities from imposing certain fees and other requirements on vacant property. KS HB2102: Regulating contract for deed transactions, authorizing recording of contract for deeds or affidavits of equitable interest, listing deceptive practices constituting violations of the consumer protection act, requiring notice to the buyer of default and allowing buyers to cure such default.

Locally, there are several people running for City Council in Kansas City Missouri that are a part of or proposed by KC Tenants. There are two questions on the ballot in Kansas City Missouri that will affect Short Term Rentals in Kansas City. As there are updates at any level, please share what you know with us at info@MAREI.org and be sure to read our weekly email updates. As changes happen daily, even hourly, please follow our posts at MAREI.org/Legislative