To Rent Control or Not to Rent Control – That is the Question – Prop 98 Heats Up
From today’s SFGate,
Proposition 98 was written as a restriction on eminent domain that would prohibit the government from taking property for the benefit of a private party. Opponents say it would do far more: define “private” and “take” in terms so broad as to effectively overturn the state’s approach to managing development and affordability. The clause attracting the most attention is one that would ban government-imposed limits on what landlords can charge tenants. The change wouldn’t affect existing leases, but once renters move out, property owners in cities with rent control laws, such as Berkeley, Oakland and San Francisco, no longer would have to limit price increases on those units. [
more...]
Differing views on measure to end rent control [SFGate]
How Rent Control Drives out Affordible Housing [CatoInstitute]
If New York City’s experience is any indication, rent control does not work out very well.
Milan Cole at May 11th, 2008 at 9:46 pm ( )I’m of two minds about it. I lived in rent control in the city for 8 years before I bought a place – so I’m not unsympathetic to it.
Then again I have had several friends who make six figure incomes for years that keep their rent controlled apartment in San Francisco because it’s a fabulous location has views.
Meredith at May 13th, 2008 at 4:34 pm ( )Rent control in its current form is too broad a tool. If the city wants to help folks live here who can’t afford it on their own, then the city should create a rent subsidy program. Not only does the current rent control program benefit lots and lots of people who don’t need it, the burden falls entirely on the individual landlord which is especially onerous for the small “mom & pop” landlord who may only have one or two units to rent. If the city wants to subsidize rents, the burden should be bourne by everyone.
jw2200 at May 13th, 2008 at 7:28 pm ( )I thought rent control was great – it’s the only way I’m able to afford a place at all with roommates. on $33K/yr. But I’m not feeling so enthusiastic about it anymore. Rent control keeps the riffraff and the quality of potential tenants to the bare minimum. That sounds harsh but it’s true. Also the quality of apartments is terrible. I live in a boxcar with a narrow hallway. It’s not even an apartment where you can have people over and things of that sort.
I’ve also had to live with terrible roommates found through Craigslist. It’s hard to find neat, organized and working professionals who would want to live in a place like mines. On the upside, the location is great which is something that can’t be beat.
There has to be a better system for working class folks. And maybe the answer is for me to move or earn more money (I’m working on it) but these restrictions just attract alot of riffraff.
I’m getting tired of the rent control limits and want the city to provide alternatives.
SF Money Musings at September 9th, 2008 at 12:41 am ( )JW2200 is right on the money! I am a senior woman on a fixed income… I was fortunately enough to
invest in a two flat building in 1970. Now that my husband is dead, I need extra money to pay for any and all the help I need to keep the place going.
I get less than half of what the flat is worth on the open market.
On the other side of this equation, if my tenants were seniors, the law would protect them, I could not evict them. Why is it, the same law does not exempt me as a Senior owner from rent control?
Douris at December 14th, 2008 at 12:13 am ( )