4 ms·

You say rents are going down... but you want rent control? That's one way to ensure rents will never, ever go down. Every landlord will charge the statutory max

You say rents are going down... but you want rent control? That's one way to ensure rents will never, ever go down. Every landlord will charge the statutory maximum.

Hacktrick 11mo ago
>RealPage This monopolistic pricing is a massive part of the issue. Hopefully the case the DOJ brought against them is progressing well. They've essentially created a cartel of landlords trying to squeeze you for every single penny.
- jihadjihad 11mo ago
  > Hopefully the case the DOJ brought against them is progressing well They reached a settlement with the DOJ last week [0]. 0: https://www.realpage.com/news/realpage-reaches-settlement-with-us-department-of-justice/ https://www.realpage.com/news/realpage-reaches-settlement-wi...
  - salemh 11mo ago
    [dead]
- vel0city 11mo ago
  The case concluded with a settlement that RealPage would no longer share data between competitive landlords. https://www.justice.gov/opa/pr/justice-department-requires-realpage-end-sharing-competitively-sensitive-information-and https://www.justice.gov/opa/pr/justice-department-requires-r...
  - cjbgkagh 11mo ago
    In theory that sounds like an undermining of their core value proposition, I think in practice it'll be less effective than so called 'Chinese walls'
    - vel0city 11mo ago
      I don't doubt it. The actual effects of this are yet to be proven either way.
- deleted 11mo ago
  [deleted]
Groxx 11mo ago
As opposed to now, where they charge the maximum they can get away with, while also colluding with each other to raise prices? Yes.
Tiktaalik 11mo ago
Vancouver has rent control and rents are going down. Though I think the likely dynamic that you're seeing here is rent growth of new build apartments is stalling and reversing, and on renewal with new tenants rents are being revised downward as there is more competition. https://www.ctvnews.ca/vancouver/article/rent-prices-falling-the-fastest-in-bc-but-remain-most-expensive-in-canada-report/ https://www.ctvnews.ca/vancouver/article/rent-prices-falling... I expect that amongst apartments with long term tenants rents are still creeping upward. But that's fine. The point of rent control is to smooth out volatility. Rents can still go up, but the goal is to avoid sudden 150% increases etc.
- BJones12 11mo ago
  > The point of rent control is to smooth out volatility. Rents can still go up, but the goal is to avoid sudden 150% increases etc. Is it? I mostly see rent control maximum increases below the inflation rate, suggesting a different goal (appealing to voters?). If it were just to eliminate extreme volatility I think we'd see more 5/10/20% increases and less 1/2/3% increases.
gopher_space 11mo ago
As opposed to the status quo where rents never ever go down and landlords charge the literal maximum?

You say rents are going down... but you want rent control? That's one way to ensure rents will never, ever go down. Every landlord will charge the statutory maximum.

Hacktrick 11mo ago

>RealPage This monopolistic pricing is a massive part of the issue. Hopefully the case the DOJ brought against them is progressing well. They've essentially created a cartel of landlords trying to squeeze you for every single penny.

jihadjihad 11mo ago
> Hopefully the case the DOJ brought against them is progressing well They reached a settlement with the DOJ last week [0]. 0: https://www.realpage.com/news/realpage-reaches-settlement-with-us-department-of-justice/ https://www.realpage.com/news/realpage-reaches-settlement-wi...
- salemh 11mo ago
  [dead]
vel0city 11mo ago
The case concluded with a settlement that RealPage would no longer share data between competitive landlords. https://www.justice.gov/opa/pr/justice-department-requires-realpage-end-sharing-competitively-sensitive-information-and https://www.justice.gov/opa/pr/justice-department-requires-r...
- cjbgkagh 11mo ago
  In theory that sounds like an undermining of their core value proposition, I think in practice it'll be less effective than so called 'Chinese walls'
  - vel0city 11mo ago
    I don't doubt it. The actual effects of this are yet to be proven either way.
deleted 11mo ago
[deleted]

Groxx 11mo ago

As opposed to now, where they charge the maximum they can get away with, while also colluding with each other to raise prices? Yes.

Tiktaalik 11mo ago

Vancouver has rent control and rents are going down. Though I think the likely dynamic that you're seeing here is rent growth of new build apartments is stalling and reversing, and on renewal with new tenants rents are being revised downward as there is more competition. https://www.ctvnews.ca/vancouver/article/rent-prices-falling-the-fastest-in-bc-but-remain-most-expensive-in-canada-report/ https://www.ctvnews.ca/vancouver/article/rent-prices-falling... I expect that amongst apartments with long term tenants rents are still creeping upward. But that's fine. The point of rent control is to smooth out volatility. Rents can still go up, but the goal is to avoid sudden 150% increases etc.

BJones12 11mo ago
> The point of rent control is to smooth out volatility. Rents can still go up, but the goal is to avoid sudden 150% increases etc. Is it? I mostly see rent control maximum increases below the inflation rate, suggesting a different goal (appealing to voters?). If it were just to eliminate extreme volatility I think we'd see more 5/10/20% increases and less 1/2/3% increases.

gopher_space 11mo ago

As opposed to the status quo where rents never ever go down and landlords charge the literal maximum?