Interim Executive Director Named

Rob NanfeltOn behalf of the REBIC Board of Directors, it is with great excitement that REBIC welcomes back Rob Nanfelt as Interim Executive Director. Rob has many years of political advocacy, industry experience and spent several years with REBIC as a Government Affairs Manager. In addition, he previously served as the Executive Director of the Colorado Association of Home Builders. Please join us in welcoming Rob back to the REBIC team!

2019 Primary Voter Guide

2019 REBIC Primary Voter Guide png

To see a full listing of candidate responses, click here.

City Hosting Meeting Next Wednesday on Sign, Tree Ordinance Revisions

Tree Meeting

For more information on the two proposals, see our recent Blog posts:

Charlotte Proposes Revising Tree Ordinance Requirements for Urban Sites

Charlotte Modifies Proposed Sign Ordinance to Allow Real Estate Directional Signs

Join us August 28th for the 2019 REBIC BBQ!

Join Realtors®, home builders, commercial brokers and developers for this annual bi-partisan Political Pig Pickin’, and mingle with candidates for
Charlotte City Council and local town boards.

Tickets are just $15 each. Click here to purchase online.

2019 BBQ Flyer

Real Estate Industry Legislative Priorities Continue to Advance in Raleigh

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Despite the ongoing stalemate over the state budget, legislation supported by the real estate and home building industry continues to make progress in Raleigh. Over the past few weeks, Governor Cooper has signed into law a variety of bills supported by the North Carolina Home Builders Association (NCHBA), the North Carolina Realtors®, NAIOP North Carolina, and other trade groups. Here’s a summary of some of the key laws that will benefit the residential and commercial real estate industries in the years ahead: Continue reading

Charlotte Modifies Proposed Sign Ordinance to Allow Real Estate Directional Signs

Revised amendments to the Charlotte Sign Ordinance now permit the use of weekend directional signs for new home construction and real estate open houses, after REBIC raised objections to their elimination.

The proposed regulations for Temporary Off-Premises Signs now read as follows:

sign regs - new

The new language actually allows larger signs (6 square feet in area, or double what is allowed now), and eliminate a current requirement that the signs be located no more than a half-mile from the advertised property. REBIC remains concerned, however, about new language requiring a Realtor® or sign company to obtain permission from a property owner before placing directional signs, and will continue to work with City staff to see if a compromise can be reached.

Weekend directional signs are one of the most effective tools buyers use to find homes for sale. Particularly in Charlotte, where most new home communities are in hard-to-find, infill locations (and often not yet identified on GPS), a ban on temporary directional signs would severely impact home sales, which are already falling due a lack of inventory.

Governor Cooper Signs Law Clarifying Taxation of Property Management Contracts

legislative_building_5Governor Roy Cooper last week signed into law a bill supported by REBIC, the North Carolina Association of Realtors® (NCR), NAIOP Charlotte, BOMA Greater Charlotte, and other industry trade groups, clarifying that residential and commercial Property Management agreements are largely not subject to the state’s Repair, Maintenance & Installation (RMI) sales tax.

SB 523 — Revenue Laws Clarifying & Administrative Changes, passed the General Assembly earlier this month with an amendment that requires Property Management companies to charge and remit RMI sales tax only in the following circumstances:

  1. They provide repair, maintenance, installation services for an additional charge above what is stated in the management contract.
  2. They arrange for a third party to provide the repair, maintenance, and installation services and impose an additional charge for arranging these services.
  3. More than twenty-five percent (25%) of the time spent managing an individual real property during a billing or invoice period is attributable to taxable repair, maintenance, and installation services. The property manager can voluntarily provide a written affidavit to attest that no more than 25% of their services on a given property constitute taxable RMI services, which would clear them of liability for taxation on any portion of the contract amount.

The legislation also provides specific exclusions to RMI services, which help ensure much of the work done by property management companies is not subject to taxation. They are:

  1. To troubleshoot, identify, or attempt to identify the source of a problem for the purpose of determining what is needed to restore the real property to working order or good condition.
  2. To inspect or monitor the real property, including the normal operation of all systems that are part of the real property.

For property managers across North Carolina, the new law provides much-needed clarity on when to assess and remit sales tax on repair, maintenance and installation services that are provided as part of a comprehensive property management agreement. State law has always excluded Property Management agreements from the retail sales tax, but the language in this amendment offers guidance how incidental RMI, or ‘handyman’ services, are treated when provided as part of the agreement.

The 25% threshold is particularly critical, as it allows property management companies to avoid hourly tracking of the work done by their team on a given property to ensure compliance with state tax law. The amendment says the substantiation for this claim must be ‘based on a reasonable approximation of the real property management services provided and supported by the person’s business records kept in the ordinary course of business.

The law also provides a two-year grace period, ending January 1, 2021, during which time the Department of Revenue shall assess no taxes or penalties on property management companies that fail to collect sales tax on RMI services provided under a service contract.

Thanks to David Pitser and Portia Lee with Childress-Klein for their invaluable help on this critical issue!