Goal 3:
The State of Ohio needs to adopt laws that recognize housing as the foundation for family stability, effective workforce development, and increased wealth for individuals, families, and the community at large.
Act to Reform Property Tax Regulations to Help Protect Homeowners.
Over the past several years, property owners throughout the state have experienced sudden and rapid increases in their property values, which have had a corresponding effect of raising property taxes, in some cases by astronomical figures. This is especially true in older neighborhoods where Ohioans who are looking to age in place, while passing on property to their family, can barely afford the burden of paying taxes on properties whose value has doubled or even tripled. It is imperative for the State of Ohio to act to ensure that vulnerable homeowners are receiving the protections they need to stay in heir homes, maintain the stability of communities and neighborhoods, and hold-on to the legacy of generational wealth that can be passed down to the next generation.
Address Issues Arising from the Increased Role of Institutional Real Estate Investors.
In the aftermath of the 2007-08 housing market crash, communities across Ohio have seen an increase in the conversion of single-family housing from owner-occupied to renter-occupied housing. Much of this transition has been attributed to the role of hedge funds working through institutional investors to acquire large real estate portfolios that profit from the lease of these properties. Due to the nature of this business model, many times, consumers who rent properties from these large companies do not have a locally based management company or individual landlord to address property maintenance issues, and local governments do not have a point of contact to direct property maintenance or tax delinquency issues.
Lawmakers should work to enact policies designed to provide transparency by landlords other than natural persons, that acquire real property or manufactured homes. This should include the need to designate a local, natural person as an owner or agent regarding matters related to the conveyance. This would include tenant issues, property maintenance, and code enforcement issues which arise and need to be addressed. It is incumbent on the State to ensure that bad actors can be identified easily and held accountable for issues affecting the quality of life for residents.
Provide Legal Assistance to Qualified Renters Facing Eviction.
Since the pandemic, Ohio has seen higher numbers of evictions across the state. With growing frequency, eviction cases are occurring based on a range of issues. Renters facing eviction who are not aware of their legal rights in these circumstances face the possibility of not only being left with nowhere else to live, but the stigma of having a legal and financial record that shows they have been evicted. This impacts an individual’s access to credit, and can lead to difficulty securing new housing due to a legal record which assumes they are no longer a ‘good tenant’.
Lawmakers should enact legislation providing access to legal counsel in eviction proceedings for qualified vulnerable renters, as well as establishing procedures to seal eviction records. These important changes will do much to help Ohio’s renter households continue to have access to credit and housing.