Apartment Trends Magazine May 2019 | Page 48

APARTMENT ADVOCATE NATIONAL APARTMENT ASSOCIATION / NATIONAL MULTIFAMILY HOUSING COUNCIL Playing Whack-a-Mole with Rent Control O regon’s newly adopted state-wide rent control law has opened up Pandora’s box, and threats to the industry abound. For example, housing affordability challenges in the nation’s cities are driving conversations about the return of rent control to Massachusetts, pushes in Florida, Illinois, Colorado and a renewed fight over legislation in California, despite the defeat of Proposition 10 last year. policy is seemingly simple to implement and it provides short-term relief for low-income households who are fortunate enough to reside in the small segment of newly rent- controlled apartments. These characteristics tend to override the glut of economic evidence showing its detrimental effects on the long-term health of a city or state’s housing supply, making rent control an enticing policy choice for legislators to pursue. Unfortunately, some policymakers are unconcerned with investing in housing affordability over the long-term. They are seeking a quick fix to an emotionally- charged issue affecting their constituents’, in their words, basic rights to housing. Rent control provides an off-the-rack solution. The term is easy for voters to digest, the Additionally, rent control is seemingly becoming more palatable as advocates and their supporters in government reframe this solution as an “anti-rent gouging” campaign to determine reasonable rent- increase amounts. The Oregon case represents a successful implementation of this reframing and advocates have NATURAL DOG PARK PRODUCTS begun using it as a template in rent control campaigns in other areas, regardless of the existence of state preemption laws. Moreover, groups in areas with rent control regimes are pushing their champions in state and local government to achieve broader coverage of property types by closing perceived regulatory “loopholes.” Examples include proposals to eliminate vacancy decontrol provisions, restrict when and how owners can remove their properties from the rental market, restrict rent increases for the purposes of recovering capital improvement costs and narrow the timeframe in which new construction is exempted from regulation In California, despite voters overwhelmingly defeating Proposition 10 Keeping the World Safe from Lawyers, one Trip Hazard at a time! LOCALLY OWNED AND OPERATED SINCE 2003 AFTER TRIP HAZARDS EXIST: In sidewalks, driveways, curbs, pool decking, around tree roots, drainage areas… “Increase Tenant Satisfaction & SAVE up to 80% of project costs by SIDEWALK SHAVING, NOT REPLACING.” CONCRETE REPAIR EXPERTS GymsForDogs.com [email protected] 800-931-1562 46 | TRENDS MAY 2019 General Concrete • Crack Repair / Caulking • Protective Coatings 303.287.1959 • AtlasConcreteSolutions.com www.aamdhq.org