To the Editor:
Huge cash outlays of owning properties and maintaining buildings are expected. But of utmost concern are recurring government-mandated costs. Property taxes on dwellings. Yearly fire inspections at $60 for an inspector to ensure fire alarms work by pushing a test button. A $19 fire extinguisher certification sticker to verify an extinguisher has a full canister by looking at a gauge to ensure it is fully charged.
If an extinguisher is no longer effective, it’s another $100 to replace.
I am 100% in favor of safety, and agree and adhere to all laws concerning fire safety and sanitation, but should small landlords of one or two units be forced to pay the same rates as a Hilton Hotel? If our county is serious about solving our housing crisis, why not provide complimentary fire inspections and fire extinguisher certifications?
Recently, I had to replace the surround shower stall for $1,000. A pest control company provided two weeks of trapping for animals that damaged a roof, $500. A $1 million liability policy to protect assets is $267. My insurer has just proposed a premium increase of 10% to my homeowner’s policy. On my $3,144 policy, there’s an expected increase of $314.
Property taxes on my property are $5,571.76 on one residential house, one rental house, and one storage building. Property taxes continue to escalate almost annually.
Landlords’ insurance is unaffordable for landlords charging reasonable rents. A wild card is unforeseen emergency repairs.
Large investments are planned for improvements to my rental to provide safe, clean, and attractive housing that will appeal to prospective and quality applicants. But, with destructive or nonpaying tenants, it is game over.
The eviction process is long, lawyers are expensive, and inadequate security deposits cover little in restorations costs, as many landlords have discovered to their dismay. Back rent will never be recovered under current laws.
Landlord/tenant laws historically strongly favor tenants in any court action.
My current yearly rent – $12,600
Property tax – $5,571.76+
Yearly pest control – $600+
Personal liability policy – $267+
Homeowners insurance – $3,144+
Animal trapping – $500+
Roof repair – $250+
Shower stall – $1,000+
House power washing – $150+
Fire inspection (yearly) – $60+
Yearly extinguisher inspection – $19+
So, let’s break down typical costs for a landlord in a typical year.
Yearly rent for 2023 – $12,600
Expenses for 2023 – $11,190
Profit for 2023 – $1,038.24
I predict housing that is affordable will become extinct in a few short years. Until landlord’s receive regulatory relief, reductions in mandated fees, and revised property taxes that encourage investments in housing, tenants can anticipate rental prices to dramatically increase. No one, including landlords, wants this to occur.
As citizens, what can be done? Attend township zoning meetings and ask our board to reduce fees when converting nonconforming buildings into housing. Ask them to reduce or eliminate fees for small property owners who provide housing.
Write letters to Sen. Testa, Congressman Van Drew, Gov. Murphy, and the Department of Community Affairs. Now is the time for tenant reform laws. Let laws work by treating tenants and landlords equally. Without reformed laws, our limited supply of housing will vanish, homelessness and crime will increase, and companies will not be able to recruit workers for our economy.
DAVID ROBINSON
Court House
