this post was submitted on 19 Jul 2025
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So what you're saying, is you're renaming the word to "rent" to "land contract" and move a few conditions around and somehow it's not rent? It is rent, by a different name.
Yes, and no.
Rent is usually an annual contract, with penalties for early termination, and is subject to hikes each and every year.
Land contracts are a purchase agreement that can be canceled unilaterally by the buyer in the first three years. Land contracts have a fixed payment for the life of the contract: "rent control" is incorporated into them directly.
But, you're missing the underlying reason why we are talking about land contracts at all. The underlying factor is a massive hike in property taxes, which is only effectively implemented against corporate investors. We are establishing an owner-occupant exemption that will effectively lower property taxes for owner occupants, but will not be available to corporate landlords.
The underlying objective is to drive these corporate parasites out of the housing market. The only reason we are talking about land contracts at all is to assure you that the needs of tenants are not being ignored as we destroy these corporate parasites. (It also has a secondary effect of giving borrowers some leverage over lenders. While the lender is negotiating to keep the borrower in their home, the owner-occupant exemption is in place. As soon as they begin foreclosure proceedings, the property tax rate skyrockets.)
For the short-term tenant, yes, it is just rent by another name.
For the long-term tenant, it is an effective route to home ownership.
For the corporate landlord, it is the first stage of being choked out of the residential property market.
For the small-time landlord, it is a transition to "private lender".
For the on-site landlord, in one unit of a duplex, triplex, or quadplex, it is a competitive advantage on actual rent.