County Ordinance Capping Rental Homes - Right or Wrong?

[Nick Morrison]

Starting 1/1/28, Hamilton County will no longer be able to cap rental homes at 10% per subdivision. New in practice, but gaining traction nationally.

This ordinance was meant to stop institutional and out-of-state investors from buying up affordable homes and turning them into expensive rentals. I’m entirely on board with that!

But my wife and I spent years hustling, saving, and investing to afford a home in Carmel,IN. We bought a home that 99% of buyers would consider unlivable and renovated it ourselves. With a baby on the way and limited space, our plan was simple: live there for two years, buy another home, and rent this one to recover renovation costs and build equity.

Then the rental cap went into effect almost immediately after we moved in, and it changed my opinion.

I understand that what’s best for the community isn’t always best for every individual. But this didn’t feel right. We worked hard, played by the rules, and contributed positively to the community, yet we’re being penalized.

Do I want my daughter growing up in a neighborhood owned entirely by investors? No.

Do I want institutional and out-of-state investors buying up Carmel? No.

But is there a way to adjust the ordinance to protect people like us while still protecting the community? I think there is.

Am I thinking about this the right way, or am I way off base? PLEASE share your thoughts!

https://www.indystar.com/story/news/local/hamilton-county/20...

[Richard F.]

Governments are meddling far to much. Maui just eliminated Short Term Rentals. Fee simple is fee simple, and it should not be so easy to downgrade zoning on property this easily, without compensation.