Tag: rent control

Virginia Democrats Seek to Allow ‘Anti Rent Gouging’ Ordinances, Spend $100 Million in ‘Long-Term Direct Rental Assistance’

Tom Pappert
House for Rent

Democrats in the Virginia General Assembly seek to allow local cities and towns to enact “anti rent gouging” ordinances that would regulate what property owners can charge renters and when rent can be raised, and additionally seek to add $100 million to the budget to fund “long-term direct rental assistance” for 5,000 families via vouchers.

Delegate Nadarius Clark (D-Suffolk) introduced HB 721 in early January to allow “any locality” to adopt an “anti-rent gouging” ordinance that would force landlords to provide two months of written notice in the event of a rent increase, prevent landlords from raising rent more than once within a 12-month period, cap how much rent can be increased and allow communities “to establish an anti-rent gouging board” to create regulations “by which landlords may apply for and be granted exemptions” from the legislation.

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Bill Allowing Rent Control Proposed in Georgia with Support of ‘Party for Socialism and Liberation’

Tom Pappert

Senator Donzella James (D-Atlanta) proposed Senate Bill 125 for the upcoming legislative session to allow local governments to impose rent controls, upending a nearly 40-year-old ban on the practice. The plan is supported by activist group Party for Socialism, whose spokesman repeatedly endorsed rent controls to local media.

Current Georgia law mandates, “No county or municipal corporation may enact, maintain, or enforce any ordinance or resolution which would regulate in any way the amount of rent to be charged for privately owned, single-family or multiple-unit residential rental property.” James’ bill proposes repealing the entire section of law, opening the door for any Georgia city or county to impose rent controls.

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Commentary: Rent Control Is the Wrong Solution for Housing Affordability

RealClearWire

My family moved to the United States from the Caribbean in 1985. About eight years later, my parents saved enough to purchase a two-family home in the quiet outskirts of Boston far away from our crime-ridden neighborhood. As landlords, my parents charged modest rents—enough to “help with the mortgage”—and ensured that the first-floor apartment was always well maintained for our tenants.

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Commentary: A Rent Control Renaissance Is Underway in the U.S. and It’s Sure to Make the Housing Shortage Worse

Admin

If one needed any more proof that rent control laws suppress investment in new housing, then it is not necessary to look any further than this recent survey from the National Apartment Association. They found that “Over 70% of housing providers say rent control impacts their investment and development plans; actions include reducing investments, shifting plans to other markets, and canceling plans altogether.”

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St. Paul Mayor Melvin Carter Establishes ‘Rent Stabilization Stakeholder Group’

Cooper Moran

St. Paul Mayor Melvin Carter has established a “Rent Stabilization Stakeholder Group” to “identify considerations on improving and enhancing rent stabilization in Saint Paul.”

According to the mayor’s office, the new group is composed of 41 individuals from different careers and backgrounds. They will work together to produce a report by the end of the summer.

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Developers Pause, Pull Out After St. Paul Passes Rent Control

The Center Square
St. Paul School District

Earlier this month, St. Paul voters chose 53%-47% to impose a 3% cap on rent increases per year.  Despite the rule not activating until May 22, developers already are pausing and pulling out of projects.

The cap is strict: it doesn’t account for inflation, small or large landlords, new or old buildings, “regardless of change of occupancy.” The goal is to obtain stable, affordable housing prices, but there are also wide-reaching unintended consequences.

Pre-election, Mayor Melvin Carter said he supported the initiative.

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