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PLEASE TAKE ACTION

Attn: CAI Members
Thank You! In large part to their efforts, the Senate Commerce Committee voted to conduct a summer study committee
on rental restrictions and deferred any further action on the bill for this year. We expect the bill to be
resubmitted next year, but for now it is off the legislative agenda.

We need your help to oppose HB 1290. Please click here for the Senate Commerce Contact List.

Click here for the CAI Talking Points as presented below.

Oppose SB 1429 - HB 1290!

As amended by House Local Government amendment 7237, this bill would remove the right of neighborhoods to self-govern.

HOA rules are essentially contracts. When a person buys a home, they contractually agree to abide by the rules of the neighborhood. When faced with a problem which is not covered by the rules, Tennessee property law currently allows a neighborhood to change its rules to address the problem. Changing these rules is extremely difficult, usually requiring two-thirds or even three-fourths of all homeowners in the entire neighborhood to agree. The large out-of-state rental companies behind the bill are trying to legislatively eliminate a neighborhood's right to change its own rules. The right to change the rules is a neighborhood's only means to protect property values, preserve the aesthetics and character of the neighborhood and prevent the neighborhood from becoming an enclave for rental homes owned by California and New York companies.

THIS BILL IS BAD FOR TENNESSEE:

1) TAKES AWAY property rights from Tennesseans;
2) RESTRICTS the ability of a neighborhoods to decide if, or how many homes to rent in their neighborhood;
3) RESTRICTS the ability of neighborhoods to protect the value of their property;
4) INTERFERES with property and contract rights protected by the Tennessee Constitution;
5) Will lead to fewer homes being built because of lack of ability to self-govern;
6) LIMITS home buying opportunities for Tennessee families who will be forced to bid for homes against out of state companies with deep pockets.
7) NEGATIVELY EFFECTS options forhome buyers trying to obtain financing for new homes due to uncontrollable numbers of rentals in the neighborhood.

Williamson County Folks, please contact your legislators today with your opposition.

Click Here to read the amendment. Thank you for your support.

Click here to review an article from the Wall Street Journal regarding this issue.

 

 

Download printable version.







CAI Tennessee, 211 Doneselon Pike, Suite 106, Nashville, TN 37214 p. (615) 874-0031 f. (615) 874-0033 info@caitenn.org

 

 

 

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