NEW LAW ON RENTAL CAPS A WIN FOR PRIVATE PROPERTY RIGHTS
On May 2, 2019, the Governor signed a bill which was effective immediately which prohibits an Iowa city from adopting or enforcing any regulation, restriction or other ordinance related to residential property rental permit “caps” on single family homes or duplexes.
Some cities in Iowa had adopted policies which halted or stunted the ability of property owners to rent the property they owned, where their neighbors who “beat the cap” were able. A policy such as this leads to unfairness in property ownership rights. The Iowa Legislature, with the passages of Senate File 447, has now stopped rental caps from being utilized by cities. REALTORS® support the rational and organized planning and operation of municipalities, townships, and neighborhoods and will be working with cities and towns to find common sense solutions with potential issues of growth. Our hard work this legislative session advocating for this law helped score a win for private property rights!
Information provided by the Iowa Association of REALTORS®: