MUST READ … Why This Year’s Landlord Bootcamp Event Should Be Viewed as “Mandatory” The Collateral Damage of Koble Investments -v- Marquardt (Koble)
Date: Friday, October 18, 2024
To: All Rental Property Owners, Property Managers and Rental Real Estate Investors
If you have been attending our monthly meetings, reading our blog posts, or reading our email communications about Koble Investments, and before that case, Henchey, you understand the concern we have had about the collateral damage these cases were going to have on the rental housing industry, especially Koble since it has now been published and is the law of the State of Wisconsin.
Recall these cases argued that leases which violate Wis. Stat. §704.44, the 10 Deadly Sins, were deemed Void and Unenforceable, and the legal remedy was to award the tenant with all the rent they paid the landlord during their entire tenancy, plus double damages and attorney fees (ATCP 134.08).
We have been following cases that are being argued based on Koble, and as you are aware, the AANW, FVAA, RPA, KLA and the Realtors have filed an amicus (friends of the court) brief asking the Wis Supreme Court to accept Koble’s Petition to hear this case, and ultimately overturn Koble, which was published at the Court of Appeals level. At this time, we have not seen any movement by the Wis Supreme Court on the petition filed by Koble, and our amicus.
Over the past couple of months now, we have seen a significant number of Plaintiff’s (tenants) attorneys seeking class certification, Wis. Stat. § 803.08, of a number of these cases across the State, including those against owners and managers who operate up and down the Fox Valley. We have already told you that the Koble case would have detrimental consequences to our industry, and further reduce an already inadequate rental housing inventory across the state. If these cases now receive class certification, the rental housing industry may not be recognizable in 2025 and beyond. Those who get dragged into these class action lawsuits may well find their only reasonable solution to be bankruptcy. This could include, but not be limited to the smaller mom and pop landlords/managers, but also some of the medium-sized operators, and perhaps some of the more vulnerable larger operators.
This is very likely the most consequential judicial action targeted at the rental housing industry of our lifetime. Now more than at any other time, everyone should sign up for the Landlord Boot Camp, presented by Attorney Tristan Pettit, hosted by the AANW on Friday, November 8th. There has been enough change to how Landlord/Tenant Law is being interpreted by the courts, and DATCP, in part because of Koble but not solely, that every member or non-member who follows our association should get signed up before we are Sold Out like we were last year. You will not find a better value for this Landlord/Tenant Law education than this event, and if you’re not a member, now is the time to take advantage of the non-member special we are offering that combines both membership and the boot camp. This link will take you to the event on our website, where you can learn more, and get signed up as spots are filling up fast. AANW 2024 Landlord Boot Camp (Please note that once this fills up, there is no option to open more spots due to the facility seating limit.)
The Apartment Association of Northeast Wisconsin (AANW.org)
