As a proposal on single-family home rentals moves forward in Fishers, the real estate industry is putting plenty of money into a campaign aimed at derailing any action on a city ordinance.

The print edition of this week’s Current In Fishers contains two full page ads opposing the ordinance that would limit the number of single family home rentals to 10% in any single subdivision, with some exceptions.  A mass text message sent to local cell phones Monday urges residents to e-mail local elected officials, arguing the plan should be ditched, was sent by a group calling itself the Hoosier Homeowners Alliance, which appears to have been funded by a national real estate political committee.

Getting the phone number listing for the text message blast and the Current In Fishers ad cost the industry money.  There are clearly people in the business of real estate that do not want this rental cap to become a local ordinance.  All this attention is related to the fact that this is the first such measure proposed by any locality in Indiana and many believe it could be the first of its kind in the nation.

Mayor Scott Fadness has decided to respond, sending out the social media post shown above.  He details his response on the city’s Web site at this link.  Those opposing the rental caps have their own Web page at this link.

I recorded a podcast last month with Fishers Mayor Scott Fadness and his Chief of Staff Jordin Alexander outlining the proposed ordinance…you can listen at this link.  This week, I recorded a podcast with two opponents of the rental cap, former City Councilor Jocelyn Vare and local real estate professional Steve Ladig…you can listen to that podcast at this link.

I am only certain of one thing at this point – the April 21 public hearing at the 7pm City Council session should be lively.  If the Council adheres to the current schedule, a final vote on the rental cap will take place in May.