Homeowner property rights. That’s Shana. I’m Mike. We’re going to talk about this right now from an owner’s perspective, if you own property, what are your rights and what do you want? Right. We’re going to talk about highest and best use. We’re going to talk about freedom to choose what you want to do with your home individually.
And maybe there’s some negatives that come from this. And it doesn’t always parallel what’s best for the neighborhood and what’s best for you as the homeowner. Some of this goes into Airbnb, some of it goes into commercial versus residential. There’s a bunch of different places where this kind of leads.
And you can’t think of you in looking at these things as an individual because, you know, is everyone going to conform to the same standards that you have?
So so go ahead and talk about anything that you’d like to. Wherever you want. One, we as realtors, that’s what we fight for is to protect property owner rights. Right. So if you talk about the highest and best use, you should be able to enjoy your home, you know, and not be deprived of that enjoyment of your home. So, you know, what does that entail financially?
Right. Is that what you can do there? There’s a ton of different things, right. So there’s different restrictions that are put upon property, right. By municipalities, whomever they happen to be for zoning, for regulations and on those properties. And it reduces what you can do with your property.
And there’s property rights that would be above the surface that are in like space. Then their surface rights, their subsurface rights, there’s what you can do as far as releasing things, as far as building on it and different. And realtors, you guys fight to be able to maximize this.
Yeah, right. The best use the highest and best use. So if we kind of look at that and we understand. Right, that that’s what we’re fighting for, sometimes it’s in direct conflict with what your neighbor might want to do because you want to do this right.
You may want chickens or ducks. And that would interfere with your neighbors use of the property. Totally separate topic of what’s best for the Neighborhood, right? Right.
Yeah, but just about what’s the highest and best use for you. You would probably want to be able to maximize it, to be able to put up a ten story building, if that’s what you wanted to put in a hotel. But that’s not really possible on every single property. No, but you want to restrict these in certain places.
But property rights says that you’re going to fight, that this person can do whatever they want the property to benefit and to benefit. Yes. And if you do things like that or allow things like that, then that diminishes the value of the other property. So I think the highest and best use, you should enjoy your property and you know, you don’t want to do something that’s going to adversely affect the value.
And this is where it goes into all different types of things, whether it happens to be solar or solar panels on the roof and how that aesthetically looks right and how it is financially, it’s going to be different and the same type of thing. When you talk about just every different type of way, you can use your house, not just from from solar, but all the way across.
Well, solar is a big one right now. And Airbnb. Yeah, is it was the second one I was mentally trying to think and I lost it. So short term rentals, you know, does it benefit you? Sure, it probably does. But does it benefit the neighborhood and protect your value?
What about renting it long term? We we see a lot of battles there right now. So property owner rights says that you should be able to rent your home out if something comes up, right? Yeah. And there’s all these different things and you should be able to run out of portion of it or your your adu.
Right. And how big can that be? And the property owner. Right. Says that you should be able to do all of those things. It basically should be yes is the answer. Yeah. And it doesn’t always conform.
And then, you know, the traffic coming in and out, the turnover is a thing, you know, but then that could be be managed, I believe, within your homes.
And that’s what’s best for the neighborhood, which we’ll talk about next. Yeah, but property rights is about using the property to its fullest in whatever that is to fully, fully maximize it. All of your they talk about a bundle of rights that you have with property ownership and those bundles of rights we want as realtors, they want to be able to maximize that.
There’s what the Fifth Amendment Amendment is. You know, that you should not be deprived of your home without, what is it, due process. So people can’t they can’t just come and take it. Come and take it. That’s excellent. I was I wasn’t sure of all the amendments and which one it was and how that came in. So when you start quoting that, I was like, wow, all right. I like that.