Rent-control programs protect existing tenants, but they have both pros and cons for both landlords and tenants. Pros for Tenants If you're an occupant of a rent-controlled apartment, the maximum increase that your landlord can charge is capped.
Among the most well-known rent-control regulations are in place in New York City. In spite of these regulations, New York City has some of the highest rent rates in the country, if not the world. In other areas, such as Cambridge, Massachusetts, where rent controls were in place between 1971 and 1994, rent control has given way to deregulation.
A Final Thought on These Rent Control Pros and Cons. Rent control is a theory which works well at times when the cost of living in an urban environment exceed what the local wages are. This legislation gives families an opportunity to find a place to live that is close to their employment without requiring a significant portion of their income.
The cons far outweigh the advantages. The pros are that affordable housing is made available to middle and lower income workers and families allowing them to stay in the area where they work. The cons are these: * the apartments will be allowed to...
Pros and Cons of How Rent Control Effects Housing in California. Rent control laws in Los Angeles County seem to be in the landlords favor since rent prices through the roof, most apartment tenants spend 2-3 of their income just in rent every month. Rental regulations also affect the real estate housing market in a drastic way.
“In November 1994, the Massachusetts electorate passed a referendum to eliminate rent control by a narrow 51–49 percent margin, with nearly 60 percent of Cambridge residents voting to retain the rent control ordinance.” Pros and cons
The residents of Cambridge, Massachusetts displayed their support for rent control when they voted to continue it in 1995. However, because the rent control mandate lost in a statewide referendum, Cambridge residents were defeated. Maybe, though, they really won.
Lower Rents. Clearly, rent control results in lower rents for some of a city's residents. Not all cities operate rent control the same way--if they even use it to begin with--however, San ...
Below, the pros and cons of rent control regimes, which now exist in about 40 countries are reviewed by the Global Property Guide. The Global Property Guide believes that rent control is generally harmful, but it can be benign, if: It is implemented so that its market-restraining effects are modest
The Disadvantages of Rent Control. in Legal Issues on November 20, 2009 by Staff Writer. Rent control is a set of laws, which is adopted by a local or state government, designed to protect tenants. The most common factors that rent control laws regulate are the maximum rent price, how much rent can go up when re-signing a lease, and what ...