In writing the recent blogs relating to transfer fees, the rumored bill raised many different arguments to the surface for and against transfer fees.
What is certain is that the anticipated bill, as reportedly proposed, is being met with strong opposition. CAI has opposed the introduction of the rumored bill, along with major management companies and the Real Estate Commission. These parties believe, regardless of what is contained in this bill, the bill should not be introduced. Interested parties continue to meet with Representative Labuda to explain their concerns, which in many cases, are warranted as the proposed “fixes” in the bill seem to be unworkable. In discussions I’ve had with interested parties, they believe there is nothing in this bill worth saving and whether or not this bill has any support at all.
If this bill is ever introduced, we will be sure to keep you apprised of its content.