Written in 2019, this article explains that Boston’s severe housing affordability crisis, driven by high demand and soaring rents, has sparked a passionate debate about reintroducing rent control, a policy Massachusetts outlawed in 1994. Proponents see it as a solution to protect residents from being priced out, but opponents argue it would discourage property maintenance […]
Since 2015, Boston has repeatedly tried to pass “just cause eviction” laws to protect tenants amid soaring rents and redevelopment, but these efforts have consistently failed in the state legislature due to strong opposition from landlords who view them as a first step toward reenacting rent control (which was banned in MA in 1994). The
In 2019, New England’s real estate market was defined by a high cost of living and strong job growth, particularly in the life sciences and tech sectors in Massachusetts and New Hampshire. While this boosted the economy, it also (along with rising interest rates) slowed single-family home sales and increased demand for rental properties. Key
Appraising properties with short-term rental (STR) potential (like Airbnb) is complex. The appraiser’s first and most crucial step is to determine if the STR use is legally permissible as the “Highest and Best Use,” which is increasingly difficult due to strict new regulations in places like Boston (which only allows owner-occupants). If the use is
In the Income Approach to property valuation, appraisers must first calculate a property’s Net Income by analyzing its expenses. These expenses are categorized as Fixed (e.g., real estate taxes, insurance) which do not change with occupancy, and Variable (e.g., maintenance, cleaning, management) which do. Appraisers rely primarily on the property’s actual operating history for this
The Cost Approach in real estate (which values a property at Land Cost + New Construction Cost – Depreciation) is a necessary tool, but not for every situation. It is most relevant and useful for new or proposed construction (where costs are known), special-use properties (like churches or schools) that don’t produce income or have
The Market Analysis section of an appraisal is crucial and often overlooked. While many readers skip to the final value, this section provides the essential data that supports the “Highest and Best Use” conclusion by analyzing financial feasibility and profit potential. It also offers vital insights into the property’s tenants or businesses (their history, market,
