St. Cloud City Council Rejects Rental Property Moratorium, Vows More Discussion
ST. CLOUD - After a long and passionate debate over rental homes, the St. Cloud City Council voted not to pass a moratorium on any new rental properties. The council held a public hearing on the issue during their meeting tonight (Monday).
Joan Jaye is the President of the St. Cloud Neighborhood Coalition. She says St. Cloud continues to deal with problem rental properties since the last moratorium in 2005.
Every time a single family owner-occupied home is converted into a rental unit it has a significant impact on the dynamics of a neighborhood.
Marty Czech is the President of the St. Cloud Area Association of Realtors. He says people rent their homes for a variety of reasons.
Temporary absence due to military service, a move to a senior living facility, changes in employment, changes in family situations, joining or division of households, many of them owe more on their homes than they can sell them for due to the economic downturn, their only options are to rent the property out, try to have a short sale approved, or let the bank foreclose.
The St. Cloud city council plans to continue to talk about the issue of problem rental properties at future work study sessions.