02-22-2012, 04:27 AM
There is a good reason for this bill and it's about time. There is already a bill on the books that a company renting and/or managing more than one rental unit needs to have broker's license but it has never been enforced outside of complaints from homeowners. I speak from experience. Our state relies heavily on tourism and the impression that tourism is handled in a professional manner throughout the state. A RE broker must live by a code of ethics and rules or risk losing their license. IF a renter has a problem they have a board they can go to. The horror stories include large deposits paid by vacationers swho arrive only to find a foreclosure notice on their rental and no way to find the owner. Or major problems with a house and a nonresponsive owner. Taxes are indeed part of the issue and I for one see nothing wrong with a level playing field.
There is also the issue of homeowner's homes not being properly taken care of. But that's another story.
This is not about "renting" to friends, but rather renting homes with the impression of professionalism. The state needs to protect its most important industry or we all suffer. If you think it's about brokers trying to muscle in on the business, try to find a broker who actually wants to do vacatoin rentals. I think it's more about people who want to od rentals getting their broker's license and learning ethics along the way.
There is also the issue of homeowner's homes not being properly taken care of. But that's another story.
This is not about "renting" to friends, but rather renting homes with the impression of professionalism. The state needs to protect its most important industry or we all suffer. If you think it's about brokers trying to muscle in on the business, try to find a broker who actually wants to do vacatoin rentals. I think it's more about people who want to od rentals getting their broker's license and learning ethics along the way.