2018 Legislative Session (Week 5)
LOUISIANA REALTORS • April 13, 2018
Updates from Bills discussed in Week 4
SENATE BILL NO. 462, SENATOR DANNY MARTINY – INCLUSIONARY ZONING
Currently, Louisiana allows municipalities and parishes to pass inclusionary zoning ordinances to promote the development of affordable housing. Inclusionary zoning requires housing developers to sell or rent a proportion of their units below market rate, regardless of the economics of a project or whether the developer receives just compensation. Senate Bill 462 would instead allow municipalities and parishes to offer VOLUNTARY economic incentive policies to promote the development of affordable housing.
This bill passed the Senate and now heads to the House Committee on Municipal, Parochial and Cultural Affairs. Louisiana REALTORS® will be putting out a call to action Monday, April 16 for constituents of members of the House Committee on Municipal, Parochial and Cultural Affairs to ask their representatives to vote yes on this important bill.
REGULATION OF BOARDS AND COMMISSIONS
Several bills are going through the legislature to modify how boards and commissions operate. Some of these bills would have an impact on real estate licensees and LR is continuing to work with the authors of these bills. To date, we have successfully convinced the authors of these bills to make some changes that benefit not only the real estate industry but others as well.
SENATE BILL NO. 466, SENATOR ED PRICE, CHANGES TO SECURITY DEPOSITS FOR RESIDENTIAL LEASES
This bill proposed a law change on security deposits for residential leases and potentially placed many additional burdens on residential lessors.
CONTACT US
Louisiana REALTORS® was opposed to certain components of the bill as it was initially filed. However, after amendments were put on the bill it now only provides that a tenant would have the right to recover the greater of either the amount of the portion of any security deposit wrongfully withheld or any portion of the security deposit wrongfully withheld plus $300.
These amendments significantly altered the bill and removed not only Louisiana REALTORS® opposition but also the opposition of the Apartment Association of Louisiana.
Are you wondering if now’s the right time to stop renting and start putting down roots in Louisiana? Here’s some signs you’re ready to buy, and how a local expert can help you take the leap.
As previewed last week, NAR is pleased to share the latest consumer guide focused on Making Your Home More Energy Efficient. This guide helps homeowners understand how to reduce energy usage, make cost-effective upgrades, and improve the efficiency and appeal of their home whether they are planning to sell or stay. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Making Your Home More Energy Efficient Real Estate Auctions Buyer’s vs. Seller’s Markets Estate Planning Mortgage Interest Tax Deduction Understanding & Protecting Yourself from Title Fraud Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients so that they have the information they need to find success in their homebuying or selling journey. Please remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover buying a historic property.
As previewed last week, NAR is pleased to share the latest consumer guide focused on Working with a Real Estate Attorney. This guide explains how real estate attorneys can assist throughout the homebuying process, including reviewing contracts, resolving title issues, and ensuring legal documents are properly completed. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Working with a Real Estate Attorney Real Estate Auctions Buyer’s vs. Seller’s Markets Estate Planning Mortgage Interest Tax Deduction Understanding & Protecting Yourself from Title Fraud Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients so that they have the information they need to find success in their homebuying or selling journey. Please remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover making your home more energy efficient.
