Wait how can they? Wouldn’t them being able to buy it not make it “residential” anymore?
Cause a hotel is not a residential property.
Unoccupied residential properties should be taxed at double the normal rate.
And any resident who stays in the "hotel" is classified as a resident. No dodgy the taxes by calling it a hotel.
As someone who lives in a corporate owned building which is an unmitigated disaster, I agree.
Hmm, I think large corporations should never be allowed to purchase residences though anyone is allowed to create a corporation in the US you'll just need to declare a CEO, COO, and a treasurer. This could be a simple mom-and-pop family business with 3-4 people/employees, this could prevent a lot of normal people/small business owners struggling to create a profit from purchasing workspaces, their own home, work equipment.
I wish every corporation buying residential properties a very haven hills alabama
