President's Message (Arlene Ellis)|
Health Care Study
People's Water Conference
League's Position on Local Government
Waikiki Plans Incomplete as Moratorium Ends (Astrid Monson)
Vote Count (Arlene Ellis)
Leasehold (Jim Koshi)
December General Membership Meeting
Firearms (Nadine Onodera)
Action Alert - Recycling
This is Our Last Chance to Keep Abortion Rights
Representative Mazie Hirono, Chair of the House Consumer Protection and Commerce Committee was our guest speaker. She indicated that she will be putting together a bill proposing that future leasehold contracts not have revisionary clause, but can have rental cap formula, perpetual lease and shorter term renegotiations. The law has to be fair to both lessee and lessors, and she is toying with the concept of shared appreciation. She advocates state-wide application of lease rent regulation and mandatory conversion. She believes that rent control is not necessary because higher rent is held down by the market.
Senator Mike Crozier, Chair of Senate Housing and Hawaiian programs, was the guest speaker. He has studied oligopoly extensively, he said and finds that condominium and cooperative housing development do not qualify as an oligopoly. All of the large land holders are selling their lands, he said. The study prepared for Housing Finance and Dev. Corp. in 1987 showed that there were 754 leasehold projects, at that time, the bulk being on Oahu. Now it's down to 436 which indicates that they are selling. Even the small land owners are starting to sell, he claims although may are emotionally tied to their land and are committed to passing the land to their heirs, and the advantages of selling now and investing in other more profitable ventures, more of them may be willing to sell their land to lessees.
Sen. Crozier believes that with the proper approach by realtors with emphasis on the advantages of selling, the marketplace would help to solve the leasehold problem and that government should stay out of it.
|December 1991||Home Newsletters||February 1992|