alt Hacker NewsHow does this survive contact with the triple net lease? You pass the bond and the property tax is immediately due from the tenant. Congratulations, you destroyed all the businesses.
How does this survive contact with the triple net lease? You pass the bond and the property tax is immediately due from the tenant. Congratulations, you destroyed all the businesses.
Destroy the businesses, rental prices go down, land value tax rates punish land owner for keeping land empty, so either land owner sells the property to someone who can make the numbers work, or land owner accepts lower profits.
Obviously, there is pain for the current players, but long term, the landowner should not be able to extract so much profit margin without also providing sufficient utility, such as operating an in demand business.