Canadians will soon be able to add marijuana to their collection of household herbs, and that’s creating a nightmare for the country’s landlords.
Tag Archives: Landlords
On March 2, 2017, the Arkansas Senate Committee on Public Health, Welfare and Labor voted to approve two bills that would limit the methods for consuming medical marijuana.
Since Maine voters legalized marijuana, real estate brokers in the state are seeing an increased demand for industrial space, according to a Jan. 16, 2017, article in the Portland Press Herald. Maine’s industrial real estate market had been improving in recent years, and the need for marijuana business space has given the sector a new boost.
On Jan. 10, 2016, Michigan Gov. Rick Snyder signed Senate Bill 72, a law that permits landlords to ban the cultivation and smoking of medical marijuana on rental property.
The marijuana industry is proving to be profitable for landlords, with businesses willing to pay premium rents. Conversely, it is also complex and has many details from a risk management standpoint.
HFO Real Estate Investment, an Oregon-based multifamily real estate investment firm, talks with attorney Charles Kovas for an update on what recreational marijuana legalization means for landlords and tenants.
A service in Colorado connects renters who want to grow their own pot with landlords who don’t mind them doing so, according to The Denver Post. Four-year-old Housing Guru manages properties, checks out references, verifies incomes, and looks into the property histories of would-be renters.
The anti-marijuana folk seem to be cashing in on the legalization. For instance, there is a new device being launched in 2015 called the AirGuard from a company called Fresh Air Sensor Corp.
Marijuana legalization has left Clark County landlords with many questions regarding their rights as property owners.
Landlords are simple people. They want to collect rent and, at the end of the lease, they want their asset back in good enough shape to rent it out again. Owners of commercial property thinking about renting to legal marijuana businesses face an unusual degree of risk.