Are you living in a small city that’s located at the end of the line yet is included in top ten lists in lifestyle, news, and financial magazines? Watch out!
– WEN file photo by Tony Zeli
What may seem gratifying and a little exciting at first, could really be an “all that glitters is not gold” warning. A letter notifying you that your home’s assessed value has increased from $310,000 to $826,000 – or a similar note to the landlord who owns the building where you rent – may be in the mail.
Unless you just awoke from a long winter’s nap, you’re most certainly aware of the financial shock many residents of Portland recently received. It came either in the form of revaluation notices or requests for rent increases. The magnitude of the hikes will be life-altering for some.
Why was this reassessment allowed to play out the way it did? There’s plenty of blame to go around. But apportioning blame is not my purpose. Rather, I’d like to explore a couple of ideas that may be useful to pursue. Let’s try to make living in our city possible for those who hope to be here for the long haul.
Consider, please, owner-occupied small multi-unit buildings.
There are lots of these in Portland. Many of them are older single-family homes that were cut up into apartments as households grew smaller. Others are classic double- and triple-deckers or conversions from first-floor retail/apartments above. These are not the buildings that are “investments” for absentee landlords, often run by property managers and commonly looked upon by renters as exploitative enterprises tuned to maximize owners’ incomes while minimizing their costs and responsibilities. These buildings are first and foremost the owner’s home.
For these landlords, renting real estate is not their main occupation. In fact, many strive to keep their rents lower than average to keep tenants long-term. This practice helps to build neighborhood stability and benefits the larger community as well.
How about offering an incentive to these smaller providers of owner-occupied affordable housing?
Or how about changing some zoning regulations to encourage more reconfigurations or additions that would allow homeowners to convert single-family homes into rentable living units for others as well?
In the past, the City of Portland, in collaboration with Maine State Housing and local banks such as People’s Heritage and Bangor Savings, sponsored a New Neighbors home-buying program. New Neighbors encouraged accountable owner-occupied landlording for first-time homebuyers. In return for a no-money down loan, buyers committed to remaining in and maintaining their buildings for ten years.
Several people who participated in the program are still in their homes over twenty years on. And they remain grateful for getting the chance to live where they wanted and, in turn, offer reasonably priced rental units to others.
Could such a program fly here again? Something to encourage residents – both owners and renters – to commit to investing their time and energy, as well as their money in creating more affordable housing? This is how our community will flourish.
Can Portland Be Saved? (Part 1)
La Vida Local
Irregular Notes on West End Life
By Rosanne Graef
Can Portland Be Saved? (Part 1)
Are you living in a small city that’s located at the end of the line yet is included in top ten lists in lifestyle, news, and financial magazines? Watch out!
What may seem gratifying and a little exciting at first, could really be an “all that glitters is not gold” warning. A letter notifying you that your home’s assessed value has increased from $310,000 to $826,000 – or a similar note to the landlord who owns the building where you rent – may be in the mail.
Unless you just awoke from a long winter’s nap, you’re most certainly aware of the financial shock many residents of Portland recently received. It came either in the form of revaluation notices or requests for rent increases. The magnitude of the hikes will be life-altering for some.
Why was this reassessment allowed to play out the way it did? There’s plenty of blame to go around. But apportioning blame is not my purpose. Rather, I’d like to explore a couple of ideas that may be useful to pursue. Let’s try to make living in our city possible for those who hope to be here for the long haul.
Consider, please, owner-occupied small multi-unit buildings.
There are lots of these in Portland. Many of them are older single-family homes that were cut up into apartments as households grew smaller. Others are classic double- and triple-deckers or conversions from first-floor retail/apartments above. These are not the buildings that are “investments” for absentee landlords, often run by property managers and commonly looked upon by renters as exploitative enterprises tuned to maximize owners’ incomes while minimizing their costs and responsibilities. These buildings are first and foremost the owner’s home.
For these landlords, renting real estate is not their main occupation. In fact, many strive to keep their rents lower than average to keep tenants long-term. This practice helps to build neighborhood stability and benefits the larger community as well.
How about offering an incentive to these smaller providers of owner-occupied affordable housing?
Or how about changing some zoning regulations to encourage more reconfigurations or additions that would allow homeowners to convert single-family homes into rentable living units for others as well?
In the past, the City of Portland, in collaboration with Maine State Housing and local banks such as People’s Heritage and Bangor Savings, sponsored a New Neighbors home-buying program. New Neighbors encouraged accountable owner-occupied landlording for first-time homebuyers. In return for a no-money down loan, buyers committed to remaining in and maintaining their buildings for ten years.
Several people who participated in the program are still in their homes over twenty years on. And they remain grateful for getting the chance to live where they wanted and, in turn, offer reasonably priced rental units to others.
Could such a program fly here again? Something to encourage residents – both owners and renters – to commit to investing their time and energy, as well as their money in creating more affordable housing? This is how our community will flourish.
Read Part 2: Nothing more than a colorful collection of squiggles and arrows
Rosanne Graef lives in the West End and is a regular volunteer contributor. Email: lavidalocalwen@gmail.com.