The RealDeal Newsletter reached out to the NBOA to get our take on a proposed tripling of the transfer tax on sales of residential buildings of more than $1 million.

Michael Chioros explained on the NBOA’s behalf that the proposal, if passed into law, would almost certainly impact smaller business owners, landlords and, over the long term, renters. “Some people think landlords pocket 100 percent of the rent, the reality is we’re lucky if we get 5 or 6 percent of that at the end of the year,” Chioros said. “It’s the same thing with a sale. It’s not this big pot of gold that someone’s getting.”