SPOA Releases Episode 6 of Housing Policy Series with "Eviction From Another View"
by Amir Shahsavari
The Small Property Owners Association (SPOA) released Episode 6 of the SPOA Housing Policy Series, which is called "Eviction From Another View."
The conversation centers on the challenges and traumas that property owners face during the eviction process, which is slow, adversarial, and expensive. When they are forced to turn to the legal system to reclaim possession of their units from non-paying or dangerous tenants, property owners also encounter interference from third parties who seek to harm owner-tenant relationships and hinder speedy dispute resolution by giving dubious legal advice to uninformed and vulnerable renters.
We speak with Ms. Wildia Capre, a first generation immigrant who achieved the American Dream of homeownership, only to have it crushed by a tenant who committed verbal abuse and threatened physical violence, while vandalizing the property and not paying rent. Wildia and her attorney, Jordana Greenman, discuss this harrowing ordeal, which resulted in a year-long process that lives on. Attorney Greenman also explains the unnecessarily complex eviction process, while calling for reforms to foster a level playing field for tenants and housing providers alike.
SPOA Vice President, Amir Shahsavari, moderates the conversation with the panel, which includes Ms. Capre, Attorney Greenman, and Mr. Demetrios Salpoglou (CEO, Boston Pads).
Underneath the link to our video, you will find another link to the Channel 7 WHDH News report featuring this story.
SPOA Housing Policy Series
Episode 6
Eviction From Another View
You can view the Channel 7 WHDH News report here:
by Amir Shahsavari
Empowering Small Property Managers: The Importance of Automated Income Verification
by Paul Jenney
Navigating the intricate world of property management is no easy feat. From juggling financial stability to ensuring tenant satisfaction, the journey often feels like a daunting maze. However, amidst these challenges, a beacon of innovation emerges: automated income verification systems. These tools signify a paradigm shift towards greater efficiency and effectiveness in property management.
Here's why landlords, especially small property managers, should seriously consider integrating automated income verification into their operations:
1. Preventing Evictions
Evictions are not just financial burdens—they're emotionally taxing for both landlords and tenants alike. Automated income verification provides deeper insights into applicants' financial histories, reducing the risk of future eviction scenarios. Armed with comprehensive income data, landlords can ensure better matches between tenants and properties, fostering long-term stability and tenant satisfaction.
2. Enhancing Revenue Predictability
Certifying applicants' ability to pay rent is crucial for maintaining a steady revenue stream. With automated verification processes, landlords eliminate guesswork and expedite the filling of vacancies. Streamlined operations and reduced delays translate to greater financial predictability and efficiency, ultimately bolstering the bottom line.
3. Maximizing Occupancy Rates
Gone are the days of drowning in paperwork. Automation streamlines the income verification process, allowing landlords to focus on maximizing occupancy rates. By prioritizing resident satisfaction over administrative tasks, landlords create a positive living experience that attracts and retains tenants, thereby boosting property profitability.
4. Promoting Fairness
Transparency and fairness are cornerstones of every rental agreement. By relying on accurate, bank-verified income data, landlords ensure that tenant selections are rooted in integrity. Property owners can trust that decisions are made fairly, fostering trust and satisfaction among all parties involved.
5. Adding an Extra Layer of Security
While we're familiar with resident screening processes like eviction and criminal records checks (please don't forget CORI is MA only, you need a nationwide criminal screening), automated income verification adds an additional layer of security. It helps detect forged pay stubs and bank records, ensuring that landlords rent to trustworthy tenants.
In conclusion, automated income verification is not merely a luxury—it's a necessity for small property managers. By embracing this technology, landlords can overcome challenges with ease, ensuring success for themselves and their residents. Let's seize this opportunity to revolutionize property management and pave the way for a brighter future.
Automated income verification is now available on the TenantTracks platform in addition to its best in-class comprehensive nationwide background checks.
by Paul Jenney
Action Alerts on Tenant Credit Checks and the Transfer Tax
by Amir Shahsavari
During the past month, SPOA alerted its constituents about two harmful proposals concerning tenant credit check restrictions and the transfer tax proposal that will be considered by the Massachusetts legislature soon. Please read the notices below and take action by contacting your state legislators.
Tenant Credit Check Restriction
April 16, 2024
There is an unrealistic new bill, H1308, under consideration at the state house rapidly moving forward to become law. This bill essentially bans the use of credit checks and would potentially create serious legal liability for small property owners who rely on credit reports when screening prospective tenants.
Under this proposal, any property owner, who used a credit report to make an adverse decision about a prospective tenant, would be required to disclose the information that was the basis for the decision to the tenant 14 days prior to the rejection -- and provide the tenant an opportunity to dispute the rejection with the credit agencies before a final rejection.
This bill will turn a simple, routine credit check into an endless quagmire fraught with legal danger and long delays before a unit could be rented. And if that is not bad enough, a property owner who fails to comply with any part of this bill would be subject to Chapter 93A violations with triple damages.
As crazy as this sounds, this bill has already been approved by two key committees and is at its last stop, the Committee for 3rd Reading, before advancing to the full House for a vote.
PLEASE CONTACT YOUR STATE REPRESENTATIVES TODAY TO TELL THEM HOW OUTRAGEOUS THIS BILL IS! You can find your representatives by using the link below.
Sponsored by Rep. Manny Cruz (7th Essex District -- Salem) and Rep. Judith Garcia (11th Suffolk District -- Everett, Chelsea), the bill itself can be found in the link below.
When contacting your representatives, you can tell them the following:
1) What kind of message are we giving to property owners? Seal eviction records, effectively ban credit reports, just rent to anyone with no questions asked, and make it more difficult to remove noncompliant tenants. Is this really fair, safe, or sustainable for all the hard-working business owners who put their savings on the line to provide others with housing?
2) This bill puts property owners in a no-win situation by threatening their businesses, while punishing them for making sure that a prospective tenant can pay the rent.
3) The bill also sets up tenants for difficulty down the road if they can't pay the rent.
4) At a time when we need more housing, this bill will drive property owners away, further depleting the available rental housing stock, while driving rents up.
5) Obstructing owners from making informed decisions places both owners and tenants at risk, along with the properties themselves.
6) Government should seek an even playing field for both owners and tenants, instead of hampering these relationships to the peril of both stakeholders and the housing itself.
PLEASE CONTACT YOUR STATE REPRESENTATIVES TODAY TO VOICE OPPOSITION TO THIS DANGEROUS BILL!
Transfer Tax Proposal
April 23, 2024
Governor Healey has proposed a major housing package which is about to be debated at the State House. SPOA has been following this bill since it was first introduced and has testified before the Housing Committee. While there are parts of the bill we support like zoning relief to create more accessory apartments, there was one section we made clear that we STRONGLY oppose, allowing communities to implement new transfer taxes on the sale of property.
No one has yet explained to us how taxing the sale of a home, investment property, or commercial property will lower the cost of housing and lead to more housing supply. Rather, transfer taxes make housing more costly for both sellers and buyers, while further depleting the available rental housing stock in the Commonwealth, thereby increasing rents and operating costs further.
As a small property owner, a transfer tax will have even more direct impact. After all, we are in the business of owning and managing property. Most of us don’t consider ourselves millionaires, but we may look like one for tax purposes the year we sell a property. Not only will we be hit by the state's new 4% surtax on incomes over 1 million, but now if communities like Boston, Cambridge, Brookline, and a couple of dozen others get their way, you could be paying a net tax of up to 2% on the sale.
Our friends at the Massachusetts Association of Realtors have spelled out this issue in more detail. The attached letter in the link below contains a thorough explanation as to why this plan should be rejected.
Please contact your state legislators to oppose this measure. We expect a vote in the House and Senate in the coming weeks.
As the letter says, please tell your legislators that we must pursue policies that create more housing and affordability in our state, instead of implementing taxes that will decrease competition and restrict the housing market further.
You can find your state representatives and senators by using the link below
You can also use the petition link below from our friends at the Greater Boston Real Estate Board.
by Amir Shahsavari
2024 Q1 Boston Real Estate Market Report
by Demetrios Salpoglou
The following text contains detailed information about Boston's real estate market during the first quarter of 2024. It covers the trajectory of real estate sales and inventory, along with median prices and a forecast for the second quarter of the year. Read more by accessing the link below.
by Demetrios Salpoglou