Wednesday, March 30, 2011

SECOND UPDATE: The Anti-PROP Bill has landed!!!

I received the following exciting news from the Triangle Apartment Association. If you are a landlord in North Carolina you should be aware of this this bill! The initial information we have is as follows:

The opportunity that we have been waiting for is upon us- Residential Building Inspections- a.k.a. - the bill that will preempt onerous rental regulations such as; Municipal Rental Registration, Rental Inspection & PROP will be presented in the House Rules Committee Meeting (11AM-TODAY) –the Committee will vote on whether to introduce the bill. This is a new procedure and basically it means that the leadership supports the bill and they will introduce it from the committee. The bill has not been released to the General Assembly but they know the title is " Residential Building Inspections".

Over the last several years, local municipalities have targeted the multifamily rental housing community by enacting onerous & taxing ordinances such as the City of Raleigh ’s Rental Registration & PROP ordinances. As you are all aware many other municipalities are now considering enactment due to budget holes and to justify the existence of local government personnel- most recently displayed in the Clayton proposal.

If enacted this bill will be one of the BIGGEST success stories for the NC Apartment Industry! However, as you are well aware most bills see little movement & action much less enactment.

4/3/2011- The bill is now identified as: H554 Residential Building Inspections. It was filed March 30, 2011, and passed its first reading and was referred to the Committee on Commerce and Jobs.

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