Dive Brief:
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Realtors, property managers, and condo associations are finding themselves stuck in the weeds over state laws legalizing and decriminalizing marijuana.
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Panelists at a National Association of Realtors conference that ended Monday said although 23 states and the District of Columbia have legalized marijuana for recreational or medical use, and others have decriminalized it, the drug’s use, possession, and sale is still a federal crime.
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Realtors who work with homeowners, landlords, and commercial properties grapple with issues surrounding liability, disclosure, property damage, and health risks, the panelists said. One speaker advised property managers to regularly visit tenants to try to prevent them from breaking the law on the premises.
Dive Insight:
As more jurisdictions allow the smoking and growing of marijuana for personal use, more owners of homes and commercial spaces will have to deal with some new realities, including the objections of neighbors; damage and discomfort from smoke and odor; higher costs for lighting and water for the plants; and mold from the high humidity levels required for growing it.
Could the next big-selling upgrade in homes and commercial buildings be a light- and temperature-controlled optional “grow room” for marijuana plants?
