How effective is rent control, really?

Question

Considering all whom it affects, does it do more harm than good or more good than harm?

Answer 1

rent control does not work at all. it only results in fewer available rent houses/apartments and does not give the landlords any reason to fix up or maintain the rental units since the landlord cannot get a return on his investment.

Answer 2

Rent control - great for tenants, lousy for landlords. It provided a way for tenants to live in better neighborhoods without paying a fortune. However, landlords found it difficult, of course, because for those who only owned one small building, let's say 6 apartments, and two were rent controlled, and the landlord occupied another apartment, it left only 3 units at market rate rents. That was usually not enough to cover the mortgage and upkeep on the property.

Answer 3

I do not think it is good because rent controls drive out residents and businesses. Many exempt significant portions of housing from controls, creating shadow markets. Yet as controls hold down rents for some units, costs for all other rental housing skyrockets. And tenants in rent-controlled units fear moving to more desirable neighborhoods since the only units available for rent are very high-priced.

Answer 4

Rent controls like all price controls are counter productive. Limit the price of something and you limit the supply or quality of that item. It is a basic fact of economic life.

Answer 5

yeah it does more harm then good, look at New York City when they had rent controlled projects. They were horrible.

Answer 6

it is a protection for landlord.. however, as rentee, if you dont pay rent for several months, all you have to do is get conviction notice and move out. You owe nothing. The law also protects tenants.

Answer 7

thier is no rent control where i live. it hurts the tenants, and hurts our economy. our dollar goes alot less when this occurs.