States of transition

Both acts by state legislators in these two larger-than-life rental states have sent real estate property owners and managers everywhere into a time of uncertainty, claiming foul against private property rights, as other states look to follow suit. [...]there are no exemptions for owner-occupied, 1-to-3 family units. A group of landlords and five real estate groups, including the New York State Association of REALTORS® along with the National Association of REALTORS®, have signed onto a lawsuit against the state citing that New York's new rent law violates the U.S. Constitution's Fifth Amendment, which includes a clause that bars the taking of private property without "just compensation." ...to the West Although not as lengthy as New York's rent control legislation, California passed a measure last October which limits rent increases to 5% (plus local inflation rates) annually from January 2020 through December 2029.