Title
AN ACT CONCERNING RENTAL HOUSING - DISCLOSURE for the purpose of requiring certain application disclosures for certain single-family rental facility or multifamily rental facility housing; requiring that certain information be provided including, but not limited, to the name and the physical address of the owner of a corporate body and the name and physical address of their agent and the name and physical address of the owner’s mortgage holder; requiring that certain disclosure
Body
FOR USE BY COUNCIL ADMINISTRATION:
Confidential: Yes
Requested by: Ingrid S. Watson
Assigned to: Kathy Canning
Legislation Type: Bill
Need by Date: ASAP
Title
AN ACT concerning Rental Housing - Disclosure for the purpose of requiring certain application disclosures for certain single-family rental facility or multifamily rental facility housing; requiring that certain information be provided including, but not limited, to the name and the address of the owner of a corporate body and the name and address of their agent; requiring that certain disclosure information shall be made available by the Department to the public in a timely manner, upon request; and generally regarding rental housing disclosure.
Background Necessitating Legislation:
Disclosure of Ownership- Apartment building owners sharing their information instead of hiding behind an LLC since the residents didn’t know who owned the apartments as they only heard from them through emails or portals as they couldn’t reach out to an actual person except for the manager. Eventually the property owners they started not responding and not really doing anything to the building so CM wants to find a way to stop these people from purchasing these buildings and taking advantage of the residents and just taking their rent and not using the rent to put back into the maintenance of the property. So, some sort of pre-sale notification.
Special Instructions/Concerns/Time Critical Information:
Including ...
Click here for full text