Is rent Control a good or bad thing?

Answer 1

Rent Control can be both. I was a landlord for over 20 years and now I'm a tenant so I'll give you an honest answer. There are elderly people who have 3 bedroom apartments but wont move because they are paying $400.00 a month (that apartment would go on the open market for four times that).They don't want to pay $700.00 for a one bedroom. But there are families with children that end up homeless and could make it in the 3 bedroom for $400.00. It's not fair to them. There should be a system that if you are in a rent controlled apartment you have to be certified to stay in it. I understand they have lived there 30 years but if you enact laws to help everyone that needs the help you should back the laws up by making sure nobody abuses the system.

Answer 2

Rent control is a horrible thing.

Generally it makes rents too low, which forces the landlord to underinvest in their property.

The fundamental problem is that their are more renters than landlords, and it's easy for politicians to buy votes with the promise of lower rent.

Answer 3

Your question presumes that all rent control is alike.

It's not all alike.

And rent control is not necessary everywhere.

In places where housing is not in short supply, it really isn't an issue.