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TALKING FINANCES
􏰀􏰁 140 lays the groundwork for the California Dream For All Program, an initiative aimed at making home ownership more affordable. This may entail the state chipping in to pay for 50% of the down payment for Californians who otherwise do not have the resources to qualify for a mortgage. How to pay for such an ambitious program? Tax everyone, and this would seem like a progressive tax with property owners standing to pay more than their fair share.
􏰀􏰁 􏰂4􏰂, meanwhile, would give renters a substantial tax credit. It seems reasonable enough to put more money into the pockets of renters, but the question is where the state will recoup this money, and once again, property owners will be largely footing the bill.
PARTING THOUGHTS
While it is said that Robin Hood took from the rich and gave to those less fortunate, the reality is many rental property owners are struggling. They are
owed tens of thousands of dollars in rent debt, and still others are subject to baseless defense claims in eviction lawsuits made all the more unseemly because the tenant is represented by a free attorney.
We welcome the opportunity for tenants to ascend to home ownership, but this goal should not be at the expense of the property owner’s rights. Ironically, as our industry partners have stated eloquently in many venues, the anti-landlord measures in place or being contemplated only drive up the cost of housing and make it less likely for renters to attain home ownership.
Bornstein Law is drawn to Robin Hood because of his spirit of rebelling against the established order. We are not in medieval times, but we are in an era where the political rhetoric falls squarely on the side of tenants.
With the existence of comparatively little advocacy for landlords, Bornstein Law looks to breathe some Greenwood magic to protect the rights of property owners.
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APARTMENT MANAGEMENT MAGAZINE - MARCH 2022
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