The City of Overland Park has lost their minds on their proposed new city licensing of rental properties. Their new legislation would make property managers responsible, financially, for deferred maintenance of properties under their care.
Now, as an owner you may think this is great. I can tell you will not have any property manager taking part in that program…at least at their current rates. Simply put, for all Overland Park rental properties I would have to re-evaluate my management agreements and raise hefty reserves and cost mitigation strategies. Who ultimately pays? The owner. Then the tenant.
Here is the link to what they are proposing for rental properties;
Here is the snippet of concern in 5.75.060 A5;
The Owner’s Agent shall be jointly and severablly liable with the Owner for;
Are you kidding me? How can a city of any stature make me responsible for a property I do not own? What is going on here? This is still America, right?
To express your thoughts on this go immediately to;
This must be corrected or property management in Overland Park will get much worse or much more expensive. Either way it doesn’t serve the public interest.
This post first appeared on Kansas City Investment Property And Property Manag, please read the originial post: here