Why is the Great State of Tennessee working against visitors and vacation property owners?
The POWERS THAT BE (i yelled that) only seem interested in pushing Bills for campaign donations and getting re-elected. To hell with one particular Bill's ramification sufferers.
As previously posted, something went awry in 2003 with the system in place to protect a management company's scheduled guests, property owners, and the State's own tax department. Where there were once controls in place to keep the management companies from spending money they were holding in trust (on cars and furniture and such), there lurks now only ambiguity. Avarice, greed, and people totally spazzing out due to being totally ripped off is the new paradigm.
(Click on one link and it will ask you for a username and password. Use your Back button to return to this blog ~ then click on the other link to actually see the report. It's crazy that this works, but it does!)
Is it just me, or do YOU also think it looks like large campaign donations were made to key legislators to reap a huge benefit for overnight vacation rental management companies? That benefit was the ability to grab that money* out of what is still considered a TRUST account. That's right. Vacation Lodging Service (VLS) licensees in Tennessee are still required to keep an ESCROW account ~ they've just been allowed to spend the crap out of it since 2003.
(YooHooooo) HEY! Powers That Be! I'm fixin' to chronicle some very bad results of this little side-step of yours. How can you just sit there, pocketing your campaign swag, and watch some of the management companies financially rape our guests and property owners?
*Clicking on 'grab that money' downloads the .pdf of the Public Act that passed on May 21, 2003, and went into effect June 4, 2003. Here's the URL: