AZ Real Estate 04-12-15

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AZ Real Estate REACH US

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CATHERINE REAGOR REAL ESTATE

Winners, losers in Legislature’s wrangling Some t of favorrends are falli ng out with ho GREM mebuye LYN BR ADLEY -WAD rs DELL

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Rem r eside ember just n a Theate tial real est few years a a corn m r-style seati te was all a go when the b n ised th achine stash g, a giant-sc out media r buzz in oo e good ed in t re h l ife. e corn en TV and a ms? As in m e r o a s ll but p popt indus go i n t h romi ng po e housing m tries, though wer, an a , r t r k e e n t . d test of d othe Some s com br o k e r t i m e , a c c o r d r s s i m p l y d o e n d u p h a v i n e a n d n’t wit ing to with H hstand g stayBobby omeSm “ A lot L i r a e e r b ally de t Elite , an as the h ouse p G sociate a work i nd its locati ends on the p roup. n certa on,� he rice ra in pric nge o said. And home t such is the c e ranges.� “Certain thi f the ngs h expan eaters are ase for the m sive si great i e d ia r de and f you ca your house oom. These See TR is n affor ENDS, d to ha on the Page 3 ve tha R t PHOTO IL LUSTR ATION BY ALIY A MOO D/THE REPUB LIC AN D

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Changes to renter taxes, construction-defect claims, landlords’ rights and property valuations were all wrangled during the Arizona Legislature’s short, frenzied session. A look at each issue and who benefited and who didn’t: Âť Legislation that would have done away with a tax on residential rentals, backed by the group representing apartment owners, was defeated by the cities that collect it. The measure called for doing away with the 2 percent tax on residential rents. Arizona is one of only a few states that charge a rental tax. The legislation sparked intense lobbying efforts against it from the Arizona cities that report the tax adds an overall $87 million annually to their coffers. “We knew it would be an uphill battle, but it’s our mission to remove all barriers for people to rent,â€? Tom Simplot, CEO of the Arizona Multihousing Association, told me. “We lost, but the regressive tax is part of the conversation going forward.â€? Âť A bill that passed allows landlords to bring in the police to evict any of their renters’ guests who aren’t on the lease and don’t have specific permission to be in the home. Housing advocates say the measure overrides renters’ legal protection from the Arizona Residential Landlord and Tenant Act, and they are trying to get Gov. Doug Ducey to veto it. Âť A bill that passed limits construction-defect litigation costs and limits the window homeowners have to sue a builder. The losing side in a lawsuit over construction problems is no longer required to cover the winning side’s legal costs. And homeowners have six years instead of eight years after a house is completed to sue a builder. The legislation will save builders money, and limit what homeowners can do if their house is built badly. But not all homeowners lose with this one because it could limit class-action, construction-defect lawsuits. Those can hurt property owners who don’t want to sue and then can’t sell their house because of the lawsuit. Âť A measure to simplify Arizona’s See REAGOR, Page 3R

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