Good news for affordable housing advocates in our area: on July 22, Michigan Governor Gretchen Whitmer and Detroit Mayor Mike Duggan announced that Detroit will receive over $6 million in tax credits for low-income housing. The credits will help finance more than $100 million in housing investments. The Michigan State Housing Development Authority (MSHDA) has… Read more »
Detroit City Council May Change Short-Term Rental Regulations
AirBnB hosts and renters take note: the Detroit City Council could make major changes to the city code to regulate short-term rentals. The council is considering a potential ordinance that would restrict the type and length of short-term rentals permitted in the city, as well is who is allowed to offer them. The ordinance is… Read more »
An Update on the City Planning Commission’s Rezoning Process
Zoning ordinances are important pieces of legislation that determine more than whether properties in different geographic zones can be used for residential or commercial purposes. They can also limit the size of lots or the heights of buildings and determine the density of districts or zones. In short, they can define the character of a… Read more »
Detroit May Require Landlords to Provide Annual Tenant Rosters
Are you a landlord in Detroit? Soon, you may be required to provide annual tenant rosters to help the city identify potential income-tax dodgers. The proposed regulation would apply to apartments and lofts with monthly rents of $750 or more. Last year, the city of Detroit filed a lawsuit against the owners of two properties… Read more »
Detroit Tops List of Cities With Largest Rent Hikes
Despite attempts from city officials to maintain a healthy inventory of affordable housing options in Detroit, many Motor City residents are devoting a larger share of their paychecks to rent payments than they were just a few years ago. That’s what financial tech company SmartAsset found in a recent report which compares household incomes to… Read more »
Detroit City Council Approves Fair Chance Housing Ordinance
Upon returning from prison, many ex-criminals who have successfully undergone rehabilitation struggle to find homes in Detroit because their rental applications are denied based solely on their past misdeeds. These individuals will soon have a better chance of finding new homes, however, thanks to a “Ban the Box” ordinance which was unanimously approved by the… Read more »
In 2018, Detroit’s Property Values Rose Across the Board
A citywide reassessment has revealed double-digit increases in property values throughout Detroit, according to Mayor Mike Duggan’s office. Commercial property values, for example, rose a whopping 35 percent between 2017 and 2018 to an overall value of $4.5 billion. Meanwhile, industrial property values in the city increased by 18 percent during the same period as… Read more »
Proposal 1 and Landlord, Tenant Rights in Michigan
Following the approval of Proposal 1 in November, Michigan has become the first state in the Midwest where residents can legally grow and use recreational marijuana. Under the terms of the new legislation, anyone age 21 and older can possess up to 2.5 ounces of marijuana on their person and have up to 12 plants… Read more »
Detroit Rent Prices are Rising but Remain Comparatively Affordable
Just a few years ago, an attractive rental price in Downtown Detroit was around $2 per square foot. Today, rental prices in the same neighborhoods are trending closer to $3 per foot, according to a recent market report published in Curbed Detroit. This report, which was conducted by Broder & Sachse Real Estate, found that… Read more »
Detroit May Require Annual Tenant Rosters From Landlords
In hopes of identifying income-tax evaders, Detroit officials are considering the passage of a new law which would compel landlords to hand over their tenant rosters to the city’s tax compliance branch each year. The proposed regulation would reportedly be focused on rental properties in Downtown and Midtown Detroit with monthly rental rates of $750… Read more »