Most of you are comfortable in your living situation whether renting or as a property owner. Your circumstances are established and you are OK with them, or you are looking to buy or sell accordingly. Regardless, you know what the consequences of your decisions will be … until politics enters the pictures. The Nevada Legislature has commenced its bi-annual session. As a citizen, it is very important that you pay attention to what decisions are being made.
In their zeal to protect the Nevada citizenry, there are often decisions made with unintended or unexpected consequences. When such decisions are made that affect, real estate everyone is affected. Pay attention as they decide whether or not to raise taxes like the transfer tax, or to impact landlord or tenants rights.
Landlords and tenants have a symbiotic relationship, one that is mutually beneficial. When government tries to influence one side or the other, both are impacted. Extending the timing of evictions, or even staying evictions due to a pandemic, adversely affects the landlord. Ultimately it increases the risk of ownership and interferes with the cash flow of the property, which is the purpose of the ownership position in rental property, and puts a strain on the rental relationship between the parties. Recently, tenants were protected from eviction by governmental action but they were not relieved of the responsibility of ultimately paying the rent. It will be interesting to watch how that unravels when the policies are modified and actions commence. The addition of fees, studies, processes, etc., adds to the cost of doing business. Instead of helping business, it hinders it. Watch as such bills are introduced and question how they will impact you and your circumstances. If a bill appears to help you, question it to make sure it is truly beneficial to your overall circumstances. If it isn’t, contact your legislators and convey your thoughts. You might have a perspective they haven’t considered. Make your children aware of the process. Teach them how today’s decisions will impact them in the future. Listen to their questions as their curious minds try to get a grip on our government at work. If you can’t answer their question of, “Why?” then maybe you should ask yourself, “Why?”
The next step, of course, should be to ask those involved in the decision-making process why they are doing what they are doing. If they can’t answer in a reasonable and logical manner then maybe they should rethink their position. What a concept!
A current phenomenon is the impact national political activities have on the state level. We used to have good autonomy but now there is such political strife that the impact of things far away is felt locally. Whether it be activist riots, taxation, corporate policies impacting job creation, immigration policies impacting jobs — and thus the local economy — there are many ways that real estate is affected by politics and politicians. Policies must be good for all. Do your part to keep it that way. When you speak up during the legislative process, don’t just come with complaints. Become part of the solution, not the problem. Provide a solution, an alternative, or rational dialogue for the status quo if you determine that change isn’t necessary or advantageous. Nevada is small enough that your “voice” is easily transmitted to and considered by your representatives. Watch the process closely – the time to head things off is when they are being presented/considered, not after they are voted into place. The legislators represent us, and they are part of us. They give their time to help run the state. Do your part as a conscientious citizen contributing as you can. Stay informed. Your informed input will be appreciated. Laws begin with thoughts which are put into action. Please put your thoughts into action and pay attention over the next few months as decisions are made that can have an impact on all of us. We are all in this together.
Jim A. Valentine is a RE/MAX real estate professional with RE/MAX Realty Affiliates in Gardnerville and a regular columnist for The Record-Courier and Nevada Appeal newspapers. Reach him for comment at dpwtigers@hotmail.com or 775-781-3704.
