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March 12, 2019
Return of Rent Control
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Following the recent enactment of the first statewide rent control law in Oregon, the apartment industry, local governments and affordable housing groups are asking: Will statewide rent control catch on beyond Oregon?

The only statewide rent control law in the country, the Oregon measure caps rent increases at 7 percent (plus CPI) per year and includes some new eviction restrictions. 

“While the intent of rent control laws is to assist lower-income populations,” said NMHC’s Doug Bibby (The New York TimesThe Washington Post), “history has shown that rent control exacerbates shortages, makes it harder for apartment owners to make upgrades and disproportionately benefits higher-income households.” In a letter to the editor of the Los Angeles Times, Bibby also argued that it’s no coincidence that places with strict rent control have housing shortages.

There is fear that rent control could be coming to more states after Oregon, as discussion of similar policies is picking up in New York, Colorado and Illinois. “Our biggest concern is that these rent control ordinances only go in one direction, which is more restrictive,” said NMHC’s Jim Lapides in The Wall Street Journal.

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A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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