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Those policies often work through gradual tightening, rather than a sudden change. So it might start with a 7% + CPI cap, then a few years later they'll change
by iav 6y ago
Those policies often work through gradual tightening, rather than a sudden change. So it might start with a 7% + CPI cap, then a few years later they'll change it to 5%, then remove the CPI, and so on. Sometimes the cap is allowed to be changed by a simple committee vote or determined by a "Rent Board," which is easier than passing a new law. That way the initial law can get passed without too much opposition.