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I live in a city with rent control and it's great. New York's rent control model is broken no doubt but look no further than Montreal for a better example. The
by bigmanwalter 8y ago
I live in a city with rent control and it's great. New York's rent control model is broken no doubt but look no further than Montreal for a better example.
The difference is that all rent prices are subject to a maximum increase of roughly 1% per year, even if tenants change, the lease is locked to within 1% of the previous tenant's lease.
It works great :) Older rental stock remains cheap, and new properties are reasonably priced too.
- refurb 8y agoMontreal isn’t exactly a city experiencing a massive influx of high paid workers. Easy to solve the problem when their isn’t one.
- bigmanwalter 8y agoRenting is much cheaper in Montreal than similar sized Canadian and American cities. Obviously you cannot compare to cities like NYC or SF directly.