Tag

Renters

All articles tagged with #renters

politics5 days ago

Congress Moves to Limit Wall Street's Grip on Single-Family Rentals

Congressional leaders in both chambers voted to ban large institutional investors from buying more single-family homes, a bipartisan move aimed at curbing Wall Street’s footprint in the housing market. While proponents say it signals who’s in charge and could slightly improve inventory in some markets, experts note the effect on affordability is likely limited since institutional owners account for a small share nationwide and much of their stock is leased or in need of repairs. The measure is part of a broader housing package to boost supply, though Senate language requiring seven-year rentals to be sold to individuals faces House opposition and concerns it could hamper new construction. Publicsupport for limits is high, but real-world effects may be modest.

Colorado clears the way for balcony solar, but kits are still scarce
energy22 days ago

Colorado clears the way for balcony solar, but kits are still scarce

Colorado Gov. Polis signed HB26-1007 to legalize plug-in balcony solar, making Colorado among the first states to clear these systems; however, UL-certified kits exceeding 391 watts are not widely available yet as manufacturers work to meet safety standards ahead of a 2027 start. The low-cost option could help renters cut electricity bills and integrate solar, while utilities cannot block installation after landlord notification; Boulder data suggests an 800-watt setup could save about $206/year.

New England Eyes Plug-In Solar to Bring Solar Power to Renters
energy3 months ago

New England Eyes Plug-In Solar to Bring Solar Power to Renters

Lawmakers in Maine, Vermont, New Hampshire, Massachusetts, and Rhode Island are weighing bills to allow small plug-in solar panels that connect to home outlets, removing the need for rooftop installations and potentially lowering electricity bills for renters and others without easy access to rooftop solar. The approach mirrors European adoption and Utah’s 2025 lead, but would require updated electrical codes and national safety certifications before widespread sale; costs can reach up to about $2,000, and critics say it won’t be a universal solution, though supporters argue prices could fall with broader adoption and that the technology offers a practical entry point to clean energy for renters and apartments.

California mandates in-unit stoves and refrigerators in apartments
local-government5 months ago

California mandates in-unit stoves and refrigerators in apartments

Starting January 1, 2023, California law requires landlords to provide all apartments with a working stove and refrigerator, ending a regional trend where tenants often had to buy their own appliances, which has been seen as a barrier for low-income renters. The law aims to improve living standards and reduce costs for tenants, though it faces opposition from realtor groups concerned about increased legal disputes and reduced rental availability. Enforcement will be managed locally, with tenants able to file complaints if landlords fail to comply.

NYC's Broker Fee Ban Takes Effect, Saving Renters Money
local-news11 months ago

NYC's Broker Fee Ban Takes Effect, Saving Renters Money

A federal judge has approved the implementation of a NYC law banning most broker fees, which is set to take effect on June 11, potentially reducing upfront costs for renters despite opposition from real estate groups. The law aims to address the financial burden of broker fees on tenants, especially low-income renters, and includes penalties for violations. The ruling clears the way for the law's enforcement, with ongoing debates about its impact on rent prices.

NYC Council Ends Broker Fees for Tenants, Shifts Cost to Landlords
real-estate1 year ago

NYC Council Ends Broker Fees for Tenants, Shifts Cost to Landlords

The New York City council has passed the Fairness in Apartment Rental Expenses Act (Fare), which eliminates broker fees for tenants, shifting the cost to landlords. This move aims to reduce the high upfront costs of renting in the city, where the median rent is $3,500. The bill, passed with a veto-proof majority, will take effect 180 days after becoming law. While Mayor Eric Adams has expressed concerns about the impact on small property owners, the legislation is seen as a step towards fairness in rental expenses.

"Post-Pandemic Economy: Perspectives Vary by Homeownership"
economy2 years ago

"Post-Pandemic Economy: Perspectives Vary by Homeownership"

The economic outlook for Americans varies significantly based on homeownership status. Renters face financial struggles with rising rents and higher rates of bill nonpayment, while homeowners benefit from low mortgage rates and increased home equity. This disparity complicates the Federal Reserve's efforts to manage inflation, as homeowners' spending power supports consumer prices.

"Biden's Bold Plan: Tax Credits and Solutions for America's Housing Crisis"
politicseconomy2 years ago

"Biden's Bold Plan: Tax Credits and Solutions for America's Housing Crisis"

President Biden will propose a $10,000 tax credit for first-time homebuyers and sellers, the construction of 2 million homes, and cost reductions for renters in his State of the Union address. The plan includes a mortgage relief credit, down payment assistance, and measures to incentivize homeowners to sell. Additionally, Biden aims to address housing supply challenges and control costs for renters, with proposals to expand rental assistance and target corporate landlords. Housing associations have responded positively to the proposals, while also expressing concerns about potential impacts on consumer protections and competition.