The Pros And Cons Of Rent Control For Landlords And Tenants

In 2019 alone, New York, California, and Oregon passed statewide rent control laws or laws that allow cities to enact their own regulations. In November 2022, voters in Orange County, Florida approved an ordinance by a wide margin that prevents owners of existing apartments from raising rents at a rate higher than the inflation rate for the region.

The housing provider research was supplemented with an online public opinion survey across the country in February 2023. The questions focused on housing availability, residential construction and policy perspectives. Here are the key findings from the interviews and survey.With rent control in effect, housing providers say they are faced with the difficult financial strain of absorbing essential maintenance costs and are forced to reduce investments in improvements and nonessential maintenance.

“Rent control is not the solution it appears to be on the surface,” said Leah Cuffy, NAA’s director of advocacy research. “While well intended, these policies have been proven to work against their intended purpose and ultimately hurt renters, housing providers and communities. This research explains the unsettling truths about rent control which are important to recognize in housing affordability discussions.

Thank you! And travel then! MiguelForbes

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