Housing affordability concerns continue to dominate the political conversation in jurisdictions across the country. Advocates and progressive lawmakers have used this momentum to drive renewed calls for rent regulation as a solution to the challenge despite the policy’s long-term adverse impact on affordability.
What We’re Seeing:
Rent Control’s Reality:
While well-intentioned, empirical economic evidence demonstrates that policies which restrict or limit how rent is determined, assessed and collected achieves the opposite for the communities they purport to assist. In the long-term, rent regulation decreases affordability, hinders critical building maintenance and alters the makeup of surrounding neighborhoods and the wider housing market.
When rent regulations remove a property owner’s ability to respond to changing economic conditions, they may decide to remove their unit from the market entirely, placing upward pressure on existing rent prices.
The National Apartment Association (NAA) continues to work aggressively to protect the interests of the rental housing industry and advocate for sustainable and responsible housing affordability solutions. These include robust emergency rental assistance for renters facing housing displacement, as well as identifying and eliminating barriers to new housing development.
To learn more about rent regulation, please contact Ben Harrold, NAA's Manager of Public Policy or visit our rent regulation policy issue page. For information on the newest research tools on rent regulation, please contact Leah Cuffy, NAA’s Research Analyst.
12/13/2021 01:25:08 pm
I am very concerned that this will be here in Michigan sooner than later. We really all need to pay attention now.
Leave a Reply.
Write something about yourself. No need to be fancy, just an overview.
Property Management Association of Michigan. All Rights Reserved.
P.O. Box 1098, Okemos, MI 48864
Phone: (517) 721-1293t | firstname.lastname@example.org | sitemap