Five Questions With: Keith Fernandes

Keith Fernandes is a Providence-based real estate investor who serves as head of the newly formed Rhode Island Coalition of Housing Providers, an entity that is composed of various real estate groups, landlord associations and owners of rental properties in the state. The coalition was formed to oppose a series of bills that include prohibitions on evictions, the sealing of eviction records and requirements for property owners to have inspections before each rental.

Fernandes also serves as president of the Providence Apartment Association, an organized group of landlords in the Providence metropolitan area, and is the owner of Ecars Worldwide – Kar Koncepts, an online automobile wholesaler that offers franchise opportunities.

Stay Ahead of Winter Respiratory Illnesses: Expert Advice from South County Health Express Care Providers

As winter progresses, so does the season of respiratory illnesses. Colds, the flu, RSV, and…

Learn More

PBN: What is your assessment of the General Assembly session that just closed? Did landlords get protections they felt they needed?

FERNANDES: The House seems to have been run differently this year, which is kudos to the leadership team of Joseph Shekarchi. There were many anti-housing provider bills, which seem to have been introduced at the behest of various groups. While it was easy to see that the sponsors of the bill meant well, the net effect of these bills can make housing even more expensive.

- Advertisement -

As head of the R.I. Coalition of Housing Providers, I see so many millennials, young families starting out, and people who depend on their property for income at retirement get spooked by these unfair bills. The judiciary committees were great in both the Senate and House. Almost every single bill was held for further study.

PBN: What are some of the bills that were not approved that you were pleased did not go forward?

FERNANDES: There were over a dozen bills between the House and Senate. An example would be the Sealing of Eviction records bill H6464. The way it was presented sounded logical to the average observer. Dig a little deeper and you find that since most evictions are settled by stipulation between the two parties, this would not reflect on a tenant’s record unless the landlord came back to make a motion to unseal their record. Who is going to spend more time and money doing that?

PBN: What are your thoughts about landlord protections?

FERNANDES: If landlords cannot trust the court data, there is no way they will take a chance on someone who says they are a first-time renter. They will probably raise income requirements. Been at your job six months? It is not good enough anymore. Many will ask for credit scores, stiffening the application process. That makes housing more unaffordable. That is the reality. We seem to be in a look good, feel good, don’t fix the problem twilight zone in this state.

PBN: Are tenants being given too many rights to remain in housing? What is your concern about this issue?

FERNANDES: It’s no secret that the narrative that has been fed has always been greedy landlords versus poor tenants. I mean, many social justice group executives need their jobs and any other narrative would have them applying for unemployment. It’s time to tell our side of the story. The mistake they have made is to bring real estate people, groups and associations together. RICOHP is the master group, and we are now going to form a PAC [political action committee]. If you do not understand a balanced approach to legislating, you will see us in your race.

PBN: The federal eviction moratorium was scheduled to end at the end of July. How concerned are landlords that it will be extended? Or is there an expectation that because the economy has reopened that tenants should not be subject to this moratorium?

FERNANDES: The CDC [Centers for Disease Control and Prevention] federal moratorium ends July 31. No tenant who genuinely needs help will be affected. Rhode Island has a surplus of federal dollars and RentRelief R.I. is getting better at distributing it. Rhode Island does not have a state moratorium. Protecting tenants who have been taking advantage of it results in the vast majority of good tenants picking up the tab. Plus, I just got all my tax bills. Not sure if I can claim a moratorium on them, but I’ll try and see what they say.

Cassius Shuman is a PBN staff writer. Contact him at Shuman@PBN.com. You may also follow him on Twitter @CassiusShuman.