While some housing experts criticized the move, tenant advocates said the new rule, which will cap rent increases at 10%, will help people to stay in their homes.
"The rent is still too damn high, but this cap will provide stability to more than a million tenants," said Tara Raghuveer, the director of the National Tenant Union Federation."Rent control has consistently proven to be a failed policy that discourages new construction, distorts market pricing, and leads to a degradation of the quality of rental housing — the exact opposite of what is currently needed in markets throughout the country," Broeksmit said.
This will help "keep seniors, families with children, people with disabilities and the lowest-income tenants in their homes," Roller said.If a tenant suspects that their landlord is ignoring the new rules, they should alert their property owner to the government's updated policy and provide them with a copy of the official
"This policy can be difficult to understand and explain, so we highly recommend that tenants contact their local free legal services provider to help determine if the cap applies to them and if so, challenge unlawful rent hikes," he added.Energy might be the 'story of the summer,' one chief investment officer says.