Steep rent increases during the pandemic recovery have spurred support for rent control legislation in several areas of the country, according to a report by Wealth Management.
In the recent midterm elections, voters created new rent controls and toughened existing rules from California to Florida to Maine. Three cities in California—Pasadena, Richmond, and Santa Monica—already had rent control provisions on the books but passed tougher rent control measures.
BALLOT MEASURES GO AROUND RENT CONTROL PROHIBITIONS
In most of the country, rent control laws are prevented by state law, but ballot measures approved by voters can circumvent those restrictions. Support for rent control has recently surfaced in areas where support has not been strong, according to National Multifamily Housing Council (NMHC) official. Minnesota and Michigan are among the states where support for rent control is growing.
NMHC argues that rent control won’t counteract the macro forces pushing rents higher that create a mismatch of supply and demand. But as the housing shortage continues to worsen, tenant advocates will push for more immediate relief.
Related Stories
Mixed-Use | Sep 21, 2017
Entire living rooms become balconies in a new Lower East Side mixed-used development
NanaWall panels add a unique dimension to condos at 60 Orchard Street in New York City.
Giants 400 | Sep 20, 2017
Bubble? What bubble?: Apartment and condo construction simply can't keep up with demand
Since the current multifamily boom took off in 2010, most activity has focused on large urban areas.
Multifamily Housing | Sep 20, 2017
New housing development rises from a historic textile mill’s ashes
Loft Five50 will add 137 housing units to Lawrence, Mass.
Multifamily Housing | Sep 19, 2017
Top 90 multifamily construction firms
Lendlease, Suffolk Construction, and Clark Group top BD+C’s ranking of the nation’s largest multifamily sector contractor and construction management firms, as reported in the 2017 Giants 300 Report.
Giants 400 | Sep 18, 2017
Top 40 multifamily engineering firms
WSP, AECOM, and Thronton Tomasetti top BD+C’s ranking of the nation’s largest multifamily sector engineering and EA firms, as reported in the 2017 Giants 300 Report.
Multifamily Housing | Sep 15, 2017
Hurricane Harvey damaged fewer apartments in greater Houston than estimated
As of Sept. 14, 166 properties reported damage to 8,956 units, about 1.4% of the total supply of apartments, according to ApartmentData.com.
Giants 400 | Sep 14, 2017
Top 95 multifamily architecture firms
Humphreys & Partners Architects, KTGY, and Perkins Eastman top BD+C’s ranking of the nation’s largest multifamily sector architecture and AE firms, as reported in the 2017 Giants 300 Report.
Multifamily Housing | Sep 5, 2017
Free WiFi, meeting rooms most popular business services amenities in multifamily developments
Complimentary, building-wide WiFi is more or less a given for marketing purposes in the multifamily arena.
University Buildings | Sep 1, 2017
The University of Texas receives boutique-style student housing complex
The Ruckus Lofts provide 46 furnished units and 165 beds for UT students.
Mixed-Use | Aug 30, 2017
Former industrial building becomes 'lifestyle community' in ever-evolving Baltimore
The new community offers 292 apartments with 20,000 sf of retail space.
