On the multifamily front, transactions are picking up. The benefits of the interest rate cut by the Fed are offset somewhat by the increasingly complex legal and regulatory environment impacting multifamily properties,...more
The City of Rockville and Montgomery County are addressing affordable housing with differing approaches. Both jurisdictions took action on rent control this summer, with plans for future legislation or applicable regulations...more
Rent control continues to be headline news, with local legislation being enacted and national legislation being proposed. The rent control law in Prince George’s County was enacted yesterday and it appears that the rent...more
Rent control laws continue to evolve in Montgomery and Prince George’s Counties. The rent control law enacted last year in Montgomery County will become effective once regulations are adopted. Our recent Alert discussed these...more
On Friday, June 14, 2024, the Montgomery County Department of Housing and Community Affairs (DHCA) delivered proposed regulations to the Montgomery County Council (Council) for review and consideration. The proposed...more
The Connecticut General Assembly recently passed a bill requiring municipalities to assess properties used solely for low and moderate-income housing based on the capitalized value of their net rental income....more
In 2023, Providence had the largest year over year residential rent increase compared to every other major U.S. city. Rising rental rates are not isolated to the Ocean State. Median residential rent prices increased in cities...more
There have been a number of new regulatory developments since our prior Alert, including updates on Prince George’s County rent control, Montgomery County tenant protections, Montgomery County Right of First Refusal (ROFR)...more
Our recent Alert focused on the D.C. Housing in Downtown program, the Montgomery County Right of First Refusal legislation, rent control in Montgomery and Prince George’s Counties, the SCOTUS rent control challenge denial,...more
Our recent Alert included details and updates on new Montgomery County rent control regulations, an expanded right of first refusal (ROFR) process, and our related advocacy efforts....more
The Florida Legislature continues to modify the proposed changes to the Live Local Act (Act) through the latest version of Senate Bill 328 (SB 328), passed on February 7, 2024. For background on the original Act, see “Live...more
As noted in our prior Alert, the Montgomery County Department of Housing and Community Affairs (DHCA) published draft regulations on February 1 to implement the County’s new rent control law. By its terms, the rent control...more
If you have been following our recent Alerts, you are aware that the multifamily industry has been subject to a series of chilling legislative actions and proposals. Today’s Alert focuses on two very recent high-profile...more
Happy Holidays to all. We are still hopeful that Santa brings everyone some relief from rent control and other multifamily restrictions (we heard that the new BEPS Regulations preclude Santa from leaving coal for legislators...more
As a follow-up to our recent alert, here are some updates on regional and national legislative activity impacting real estate...more
Below is an update to our recent Multifamily Alerts. The July 18 Montgomery County work session may be of critical importance....more
On March 29, 2023, Governor Ron DeSantis signed into law Senate Bill 102 (Live Local Act) that becomes effective July 1, 2023. The Live Local Act, among other things, seeks to provide available and affordable housing to the...more
Chicago will begin testing parking enforcement technology and smart loading zones following an ordinance the City Council passed March 15. The technology will automatically issue tickets for parking or standing violations in...more
Rent control expands as tenants struggle with the record-high cost of housing - NPR – November 28 - In November, voters in Florida, Maine, and California approved ballot measures to impose or tighten caps on rent hikes....more
On October 27, 2022, the Fifth District Court of Appeals decided 2-1 that the proposed rent control ordinance should be enjoined from placement on the November ballot. The effect of the opinion is that as of yesterday,...more
Biden framework includes $150B for affordable housing - The Hill – October 28 - President Joe Biden’s proposed climate change and social services bill, the “Build Back Better Act,” is expected to include $150 billion...more
On March 25, 2021, the Second Senate of the Federal Constitutional Court declared the Law on Rent Restrictions in the Housing Sector in Berlin (MietenWoG Bln) to be incompatible with the German Constitution and therefore null...more
Court of Appeal Holds Cities May Enact Various Forms of Residential Rent Control Measures - Cities can decide what rent control scheme to adopt and what base year to use for rent setting in drafting local rent control...more
In response to multiple news and industry reports that many urban areas in the United States are suffering a crisis in affordable housing, many states and cities are actively considering rent control as an ameliorative...more
Indisputably, 2019 was an important year for housing in California. As we noted in our prior blog post, Governor Newsom signed legislation creating statewide rent control, preventing discrimination against people paying rent...more