Targeting problem properties, Ohio bill forces LLCs to reveal owners when buying property

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LLC,Property,Owners

An Ohio senator says she wants to close a loophole that some say enables bad landlords throughout the state.The loophole allows limited liability companies to

For the last year, the owners of Galloway Village continued to rack up fire, safety and health code violations due to bolted entryways, exposed electric meters, repossessed dumpsters and lack of utilities for some of the 350-housing units on property. An Ohio senator says she wants to close a loophole that some say enables bad landlords throughout the state.

"This would simply allow us to know what human person is behind the ownership structure of the LLC or the point person," Sen. Michele Reynolds, R-Canal Winchester, testified before the Senate Select Committee on Housing last week on behalf of Senate Bill 245. "I don't know if it has to go down to every specific person. There has to be someone you can reach.

LLC Property Owners Senate Reynolds Galloway Village Apartments Bill

 

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