LEGISLATION
Colorado Apartment Association Statement Regarding Introduction of Rent Control Bill ( HB23-1115 )
In response to the Colorado State House introducing bill HB23-1115 , which would allow municipalities to enact rent control to the detriment of their communities , Drew Hamrick , general counsel and senior VP of government affairs , of the Colorado Apartment Association issued the following statement :
Everyone in Colorado is deeply concerned about a shortage of attainable housing throughout the state . While perhaps well-intentioned , allowing cities to enact rent control will only cause housing to cost more and be less available , compounding the problem instead of solving it . Rent control has failed everywhere it ’ s been tried .
Rent Control doesn ' t work because it has the unintended consequence of removing the financial incentive to create new housing units , to improve existing housing units , and it restricts resident mobility . The result is always less available housing and higher prices .
Colorado ’ s prohibition against local governments enacting rent control ordinances for more than 40 years is both a recognition of the damage rent control can do to available housing , and , also , an understanding that one local government ’ s housing policy can negatively impact neighboring communities . If Denver enacts rent control and builders decrease new housing units in Denver because of it , the cost of housing in all the surrounding municipalities will be driven up because of it . People in Aurora and Westminster will end up paying more for housing because their neighbor artificially reduced supply with the rent control ordinance .
Colorado needs to focus on policies that encourage the creation of more housing units . Multifamily units are a particularly useful means of dealing with our housing shortage because they are more energy-efficient , require less land , are less expensive and allow people to live closer to where they want to live and therefore drive less .
To receive further updates via Text Message , text " RENT CONTROL " to 303-329-3300 and follow directions to enter your name and email address . www . aamdhq . org FEBRUARY 2023 TRENDS | 9