2 ms·
San Francisco has a rent control ordinance that caps the rate at which rent can rise. The problem is that about 50% of units in San Francisco no longer qualify
by thephyber 10y ago
San Francisco has a rent control ordinance that caps the rate at which rent can rise. The problem is that about 50% of units in San Francisco no longer qualify for rent control (newer units, rebuilt buildings, and certain types of residences do not qualify).
It has become extremely competitive for those rent controlled units and those units distort the rental prices for the non-rent controlled units (the market prices are forced upwards while the rent controlled prices are fairly stagnant).
Also, landlords would obviously like to be able to collect more rent for the same unit if that's what the market would allow, thus there is financial incentive to find/create loopholes in that ordinance.