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Exactly, it should be extended to all rental units. An important part of the regulation is that the landlord cannot raise the rent when a new tenant moves in -
by crote 6y ago
Exactly, it should be extended to all rental units.
An important part of the regulation is that the landlord cannot raise the rent when a new tenant moves in - the rent is locked for the unit, not the tenant. This prevents situations like New York, where you are essentially unable to move.
- ggreer 6y ago> An important part of the regulation is that the landlord cannot raise the rent when a new tenant moves in - the rent is locked for the unit, not the tenant. This prevents situations like New York, where you are essentially unable to move. Mumbai did this and it was a disaster: https://marginalrevolution.com/marginalrevolution/2017/04/twisted-tale-rent-control-maximum-city.html https://marginalrevolution.com/marginalrevolution/2017/04/tw...
- PeterisP 6y agoThe consequence of that, as claimed in the article, is that when the old tenant leaves, it often ceases to be a rental property - it's not offered for rent but put on sale for someone who'll live there as an owner. Already there are half as many spaces available for rent as it was a few years ago, and the number is still shrinking. If this goes on, most of the rental stock will get converted to non-rental and you'll be able to move only if you can get sufficient credit to buy the dwelling.