In addition to rent control
, policy options enacted or under consideration include resident bills of rights, housing for veterans and other special populations, workforce housing and property tax relief.
The landlords' (and their managers') surliness would reduce the development's profits absent rent controls
, but with rent controls
the effect can be limited to causing tenants to go elsewhere (say, into up-market units with more features that the renters don't consider worth the higher rents) but be replaced by other renters in the tight housing market.
But Douglas Haig, the Residential Landlords Association's director for Wales said: "Rent controls
would be bad news, not just for landlords, but for tenants.
Passionate arguments abound supporting and opposing rent control
. Proponents of rent control
will point to its economic benefits for tenants and property managers.
MAYBE Dan Cookson head of research, Lettingweb for PRS 4 Scotland Where forms of rent control
exist, such as in Berlin, they have been balanced by strong tax incentives and land releases designed to promote supply and encourage investment in the sector.
"From the Gold Coastin Hoboken, Port Imperial, and Jersey City, to market-rate projects in Newark, New Brunswick, Long Branch, Trenton, and Camden, scores of buildings that are now home to thousands of New Jersey's working families would not have been possible without this commitment from the state to safeguard new construction from the well-known ills of local rent control
," said the NJAA.
More surprisingly, the authors also find a "large and significant" spillover impact from the removal of rent controls
onto the valuation of never-controlled properties.
Walter Block, an economist and the author of Rent Control
: Myths and Realities, remarks that "rent control
is a great idea, if what you want to do is promote the production of everything else except rental housing." And his message to investors is simple: "Avoid like the plague any place that is considering rent control
The book begins with an overview of the evolution of rent controls
in North America.
1, 1997, Boston, Cambridge, and Brookline, Mass., became the first major American cities to abandon rent controls
In 1992 and 1993 Cambridge landlords, rather than seeking abandonment of the city's rent controls
in the political arena, challenged the plan in court and lost.
Faced with a housing crunch, nine states, along with such major cities as Boston, Los Angeles, San Francisco and Washington, D.C., have instituted rent controls
. As a result, 12 percent of the nation's housing is now covered by some form of control.