Rent Control

Paper Summary:

This paper looks at the issue of rent control in cities in America. The writer looks at the benefits of rent control for tenants and cites that many cities do not have rent control and some tenants' and liberal groups believe it should be instituted. The paper then provides the counter argument, from the landlord's point of view.

From the Paper:

"Rent control is an idea with great appeal for the beleaguered tenant who feels that rents are too high and that there has been no government effort to correct the problem. Advocates see it as a way of imposing fairness, but in truth it imposes unfairness and disparity between people who have rented for a long time and new renters. It reduces the incentives landlords have to repair their buildings and to make improvements. It takes the profit out of being a landlord, and it effectively eliminates competition in housing in urban regions. In many cases, it has also created a black market in sublets, with those paying little for rent because they have rent-controlled apartments renting them for higher prices to others illegally. An interview with a 50-year old male, referred to as the Landlord, with experience of the rent control situation in santa Monica, illuminates the landlord side of the issue, while it is usually the renter's side that is represented in arguments for rent control."

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