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Rent stabilization measures win in US midterm election
- IronWolve 4y agoRelated, there are software companies that push up rents across the world to maximize profits. Most major rental companies use the same ones, so rent keeps going up across all major rental agencies, acts like a cartel. Some interesting articles on it. https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent https://www.propublica.org/article/yieldstar-rent-increase-r... https://www.axios.com/local/dallas/2022/10/18/texas-company-raising-rents https://www.axios.com/local/dallas/2022/10/18/texas-company-...
- Mountain_Skies 4y agoIf rent increases are limited by the government, should the government also limit how much they can increase the "rent" on the property owner in the form of property taxes? My landlord is increasing my rent by 6% this year, which is quite reasonable, especially after leaving it flat last year. She was apologetic about the increase but since property values have gone up, so have the taxes on the property.
- jfengel 4y agoAt least some places do that. In Maryland, the limit is at most 10% by state law, though many jurisdictions set even lower limits. Given that property tax is only a portion of the upkeep costs, that would translate into a much smaller proportional rent increase. To justify a 6% rent increase, that would almost certainly mean a property tax increase of well over 10%, so presumably your state doesn't set a limit or has a higher one.
- avmich 4y agoTaxes on the property could be disconnected from rents. Landlords will just have reduced income.