This should only apply to institutional investors--not individuals or small LLCs with under 5 properties. 30 days to vacate should be increased to 90 Days.
@@alphaomega1351 : You’re fantasizing. There will always be renters. There is a certain segment of the population that will not want to maintain their home and therefore they will rent. There is another, perhaps even larger segment of the population who are degenerates and drug addicts and they will be intermittently unhoused due to their terrible life choices and will not be able to pay a mortgage or even come up with the loan origination fees.
@@ChrisOConnellMortgagehow bad is Minneapolis crime now is still bad … I see Minneapolis on news every day now.. at lest I know where mn is now lol .. please update want to move some whrere
Minneapolis Taxes (2500-4000 a year/208-333 a month), mortgage payment (240k house - 1100 a month), insurance (100-200 a month), and maintenance/cap ex (plumbing, new roof every 30 years, new ac, furnace every 20 years, water heater ect) - 300 a month. Cost of owning - 1600 a month. Average rent for a 1 bedroom - 1300 month (plus another 100 for renters insurance).
As a landlord, I would love for my tenants to buy my rentals whenever I want to sell a rental. This makes it so much easier for the landlord and also saves money on realtors commissions. Whenever we sell a rental, of course the first person we ask even before listing the property on MLS is the tenant. I don't see how the current law would benefit anybody as without the law any tenant can make an offer on the rental whenever the rental goes on the open market anyway. I think this law is just another useless policy that will change nothing.
This sounds like a bad idea for Minneapolis. It will make selling a house more difficult for property owners and lead to a decrease in the supply of homes for sale. The decrease in the supply of homes will lead to a higher market equilibrium price. If the goal of Minneapolis city government is to lower the market prices for homes, this policy will have the opposite effect.
when lease ends. DO NOT RENEW LEASE when tennent is not longer under contract. He no longer has first right. PERIOD. Property owner has the right to sell and not sell and choice of buyer. so glad I no longer rent any properties. Got out before pandemic and all the drama about not being able to evict non-payers. THANK YOU JESUS for getting me out of 'land-lording' right on time.🤓🤠
🤣 the angry landlords leaving comments. Showing your true colors of valuing money over human beings. Sounds like a good policy and hope it goes into effect. Landlords are a drain on society and anything that helps reclaim those properties to someone who'll actually live in it is great.
I should be able to sell my property to whoever I want. What insane bureaucratic overreach with plenty of loopholes pointed out in the comments. It will discourage investment and decrease housing supply. The fact that Chris didn't list a single issue with this law is crazy. What a moron.
If a person was able to purchase the house with enough for a down payment then moving won't much of an issue.
If my rent payment was in effect, I would not leave when a real estate showed up, nor would I let strangers into the house.
This should only apply to institutional investors--not individuals or small LLCs with under 5 properties. 30 days to vacate should be increased to 90 Days.
It needs to apply to everyone. Residential properties should be owned not rented. Plenty of other ways to make money 💰. 😳
@@guillermoalto4803 Give the city council your feedback!
@@alphaomega1351 : You’re fantasizing. There will always be renters. There is a certain segment of the population that will not want to maintain their home and therefore they will rent. There is another, perhaps even larger segment of the population who are degenerates and drug addicts and they will be intermittently unhoused due to their terrible life choices and will not be able to pay a mortgage or even come up with the loan origination fees.
@@ChrisOConnellMortgagehow bad is Minneapolis crime now is still bad … I see Minneapolis on news every day now.. at lest I know where mn is now lol .. please update want to move some whrere
As always great content!
Minneapolis Taxes (2500-4000 a year/208-333 a month), mortgage payment (240k house - 1100 a month), insurance (100-200 a month), and maintenance/cap ex (plumbing, new roof every 30 years, new ac, furnace every 20 years, water heater ect) - 300 a month. Cost of owning - 1600 a month. Average rent for a 1 bedroom - 1300 month (plus another 100 for renters insurance).
As a landlord, I would love for my tenants to buy my rentals whenever I want to sell a rental. This makes it so much easier for the landlord and also saves money on realtors commissions. Whenever we sell a rental, of course the first person we ask even before listing the property on MLS is the tenant. I don't see how the current law would benefit anybody as without the law any tenant can make an offer on the rental whenever the rental goes on the open market anyway. I think this law is just another useless policy that will change nothing.
Neighbors: Hell no! Not the no go zone for police!
This sounds like a bad idea for Minneapolis. It will make selling a house more difficult for property owners and lead to a decrease in the supply of homes for sale. The decrease in the supply of homes will lead to a higher market equilibrium price. If the goal of Minneapolis city government is to lower the market prices for homes, this policy will have the opposite effect.
when lease ends. DO NOT RENEW LEASE when tennent is not longer under contract. He no longer has first right. PERIOD. Property owner has the right to sell and not sell and choice of buyer. so glad I no longer rent any properties. Got out before pandemic and all the drama about not being able to evict non-payers. THANK YOU JESUS for getting me out of 'land-lording' right on time.🤓🤠
More home owners are simply not going to rent out their home.
🤣 the angry landlords leaving comments. Showing your true colors of valuing money over human beings.
Sounds like a good policy and hope it goes into effect. Landlords are a drain on society and anything that helps reclaim those properties to someone who'll actually live in it is great.
Turn off the annoying background music 🎶. Your voice is good enough. 😳
I should be able to sell my property to whoever I want. What insane bureaucratic overreach with plenty of loopholes pointed out in the comments. It will discourage investment and decrease housing supply. The fact that Chris didn't list a single issue with this law is crazy. What a moron.
Second
Nailed it! Preach buoy!