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amother
Lemon
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Thu, Jul 28 2016, 2:15 pm
I often hear this term and it simply makes no sense to me. Plz explain. Thanks.
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besty
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Thu, Jul 28 2016, 2:22 pm
rent control housing is houses which the rent is controlled by the government.
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amother
Lemon
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Thu, Jul 28 2016, 2:32 pm
besty wrote: | rent control housing is houses which the rent is controlled by the government. |
Thank you. So I'm assuming the government owns the property? Otherwise why are they telling someone what to charge in rent? What are both sides of the argument?
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LittleDucky
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Thu, Jul 28 2016, 5:29 pm
The apartments are owned by regular individuals but the government has decided that the owner cannot raise the rent (besides for a minimal percentage usually)'except when a tenant moves out and at that point the landlord can charge market rates. But again, can't raise rents with that tenant. The government does this so people won't get forced out of their apartments because they can't afford it.
Highly controversial. Landlords hate it because they have to provide upkeep but can't increase the rent. Many of the slumlords are in rent controlled units. (Not all, but a nice amount).
Potential renters hate it because it doesn't encourage people to ever move and it creates artificially high rents as when one tenant leaves the landlords try to increase the empty apartment to make up for the low rent they had been getting/get on other units.
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