Landlord has to live on-site. In what I fondly call “face-punching distance.” And can only collect a monthly salary equal to 3x the median rental price of all of the units in that building. Any surplus profit after paying utilities, taxes, and maintenance cost (to maintenance people who either also live on site or are at least paid 3x the rent of a median unit), gets refunded to the tenants.
I would strongly discourage landlording of more than 3 units by extending the owner occupancy credit only to 1-4 unit properties. Apartment complexes could be divided into multi-unit condos, with the extra units able to be rented out by the owner.
Landlord has to live on-site. In what I fondly call “face-punching distance.” And can only collect a monthly salary equal to 3x the median rental price of all of the units in that building. Any surplus profit after paying utilities, taxes, and maintenance cost (to maintenance people who either also live on site or are at least paid 3x the rent of a median unit), gets refunded to the tenants.
I would strongly discourage landlording of more than 3 units by extending the owner occupancy credit only to 1-4 unit properties. Apartment complexes could be divided into multi-unit condos, with the extra units able to be rented out by the owner.