1a)- landlords will be able to afford to make improvements on the property, providing a nicer place to live.
1b)- Property tax is included by the landlord when they determine rent rates. Because this will eliminate the biggest expense for landlords, there will be downward pressure on rent rates. Some landlords will be able to decrease rent. Others will keep rents at the current level longer, and impose far less increases than they otherwise would.
2) For renters that would like to become a home owner, this removes a significant obstacle, because it significantly lowers the monthly cost of being a homeowner.
This will make it more affordable to buy your first home. It will also make it more affordable to own the type and size of home you would not otherwise be able to afford.
This will allow growing families to move up to a larger house, or a house with more bedrooms and a bigger yard. You will be able to afford a home that your family deserves.
After a lifetime of paying off your house, you will finally truly own it without paying ever-increasing fees to the government. Living on a fixed income is difficult enough without worrying about how you will keep your home.
When times are tough, there is frequently only one option to stay afloat, and that is to incur more debt. This will make it easier to weather tough times, because a significant expense is lifted off your shoulders - which is far better than taking on more debt.
You have only so much money to juggle and make everything work. By eliminating this expense, you can pay down other debt faster (such as student loans or credit cards), and free up money for doing the things you enjoy.
Whether your lease is NNN or Gross, you will see significant benefit and cost savings. Those on NNN leases will see immediate significant savings. Those on gross leases will see rent relief because decreasing the number one expense for your landlord allows them to lower or keep your rent steady, as well as making improvements to the property.
Businesses in need of workforce will benefit, because families that can’t afford a home in other states, or are looking for a new booming economy will move to North Dakota.
This will spur tremendous activity in the residential and commercial markets. The sky is the limit here.
This will reduce your number one expense, so you can improve your property AND give a break to your tenants.
This will propel North Dakota to the top spot for businesses and families considering relocating. It will be a well-controlled, statewide economic boon improving the lives of all North Dakotans; rural or urban, east or west.
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