rent control

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Rent control

Municipal regulation restricting the amount of rent that a building owner can charge.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Rent Control

A local law setting maximums on the amount landlords can charge tenants on certain properties. This is done primarily to protect tenants from certain actions, such as increases in rent at the end of a lease on tenants who ask for repairs. Proponents argue that rent control gives tenants a degree of stability that would not otherwise exist. Opponents contend that rent control discourages investment in housing, reducing the quantity (and perhaps the quality) of rental housing available.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

rent control

Laws that regulate the rent that can be charged for space. Rent-control laws were originally enacted as emergency measures after World Wars I and II,because many returning service personnel emigrated to urban centers.This caused housing shortages and dramatic rent increases, with a resulting increase in evictions.Today,rent control is seen as a legitimate exercise of a government's police power and usually does not require an emergency situation.The state of New York differentiates between rent-controlled apartments and rent-stabilized apartments because of the dates of differing legislation. Rent-controlled apartments are still operating under laws enacted in 1947. They require that the tenant have continuously occupied the apartment since before July 1, 1971. As those apartments vacate, they become rent-stabilized under other legislation, or they become decontrolled under some circumstances.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The Association believes the decades-old policy to exempt new rental housing from local rent controls has been essential to the economic development of northern New Jersey in partciular.
The state referendum to ban rent controls narrowly passed, by a 51-to-49 percent margin.
In an extended research article published today, the pros and cons of rent control regimes in about 40 countries are reviewed by the Global Property Guide (, an international research firm.
Finally, we get to the landlords' last gasp: "Rent control is a magnet attracting homeless and low income people to our city.
Rent controls have been hotly debated for more than fifty years.
San Diego bucked the trend, rejecting rent control by a two-to-one vote in a 1985 referendum.
In the past two years the real estate lobby has used its political muscle (with both Democrats and Republicans) and the tenants' weakness to abolish rent control in Massachusetts and severely weaken it in California, once hotbeds of tenant activism.
Of the three cities with rent control, Cambridge is reputed to have maintained the most stringent plan.
This book would be of interest to noneconomists who have an interest in housing policy, economists who wish to learn more about the history and politics of rent control, and especially housing policy-makers.
Liberal politicians and organizers tend to view rent control as the most effective way to combat abusive rent hikes by unscrupulous landlords and to guarantee cheaper housing for the poor.
Rent control's main supporters are professional advocates, armed with the notion that our current housing affordability problems are insurmountable by anything less than government intervention, and cannot get any worse.