MoCo Rent Control Bills

[Anonymous]

https://moco360.media/2023/03/06/elrich-says-hell-veto-one-rent-stablization-bill-if-left-unchanged/?fbclid=IwAR1-VhBL0IMg6xcg8jRyS_ySkXLBkB1Ewedyy1pIqM0Rt3HBg7cBll5bL0s

Well, at least if the one with lower limits gets passed we will have far fewer rental properties built in our neighborhoods if they eventually pass the silly ZTA for multi family. With those terms you’d have to be kind of nuts to be a landlord in this area.

[Anonymous]

Mayor Elrich is turning the state of Maryland into a marxist country

[Anonymous]

There are literally hundreds, if not thousands of economic studies that rent control doesnt work.

But dont let that stop you- Moco!

[Anonymous]

Anonymous wrote:There are literally hundreds, if not thousands of economic studies that rent control doesnt work.

But dont let that stop you- Moco!

No one has tried real rent control. --Some expert, somewhere.

[Anonymous]

This is a nice idea, but it’s going to affect many people negatively. Especially the mom and Pop landlords who will end up having to sell their properties if they can’t increase the rent more than what their mortgage or increases are on them
Do you have to apply to be able to increase over the 3% but it still needs to be approved and I’m guessing many will be denied as well. An appeal does it mean approval. When these mom-and-pop landlords have to sell their properties, the tenants will be without a home anyway.

[Anonymous]

Anonymous wrote:Mayor Elrich is turning the state of Maryland into a marxist country

A. Marc Elrich is the County Executive, not a mayor
B. The County Executive does not have jurisdiction over the entire state of Maryland
C. Maryland is a state not a country
D. Do you even live here

[Anonymous]

Anonymous wrote:This is a nice idea, but it’s going to affect many people negatively. Especially the mom and Pop landlords who will end up having to sell their properties if they can’t increase the rent more than what their mortgage or increases are on them
Do you have to apply to be able to increase over the 3% but it still needs to be approved and I’m guessing many will be denied as well. An appeal does it mean approval. When these mom-and-pop landlords have to sell their properties, the tenants will be without a home anyway.

I'm a mom and pop landlord. If you can't meet your expenses as a landlord without increasing the rent every year by 8% PLUS inflation, you probably should sell your property.

Also, the vast majority of rental units in Montgomery County are not owned by mom and pop landlords.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is a nice idea, but it’s going to affect many people negatively. Especially the mom and Pop landlords who will end up having to sell their properties if they can’t increase the rent more than what their mortgage or increases are on them
Do you have to apply to be able to increase over the 3% but it still needs to be approved and I’m guessing many will be denied as well. An appeal does it mean approval. When these mom-and-pop landlords have to sell their properties, the tenants will be without a home anyway.

I'm a mom and pop landlord. If you can't meet your expenses as a landlord without increasing the rent every year by 8% PLUS inflation, you probably should sell your property.

Also, the vast majority of rental units in Montgomery County are not owned by mom and pop landlords.

100 percent. Elrich’s math earlier today was spot on.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Mayor Elrich is turning the state of Maryland into a marxist country

A. Marc Elrich is the County Executive, not a mayor
B. The County Executive does not have jurisdiction over the entire state of Maryland
C. Maryland is a state not a country
D. Do you even live here

"Oh hey let me knitpick little things insted of actually arguing the persons point"! Congratulation! You just got awarded the smartest person award

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Mayor Elrich is turning the state of Maryland into a marxist country

A. Marc Elrich is the County Executive, not a mayor
B. The County Executive does not have jurisdiction over the entire state of Maryland
C. Maryland is a state not a country
D. Do you even live here

"Oh hey let me knitpick little things insted of actually arguing the persons point"! Congratulation! You just got awarded the smartest person award

The bit, itself, is slightly funny. The gratuitous insults are not.

[Anonymous]

What else is new? Do gooders always want to control other peoples' private property.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is a nice idea, but it’s going to affect many people negatively. Especially the mom and Pop landlords who will end up having to sell their properties if they can’t increase the rent more than what their mortgage or increases are on them
Do you have to apply to be able to increase over the 3% but it still needs to be approved and I’m guessing many will be denied as well. An appeal does it mean approval. When these mom-and-pop landlords have to sell their properties, the tenants will be without a home anyway.

I'm a mom and pop landlord. If you can't meet your expenses as a landlord without increasing the rent every year by 8% PLUS inflation, you probably should sell your property.

Also, the vast majority of rental units in Montgomery County are not owned by mom and pop landlords.

So will MoCo also agree not to have property tax bills capped at the same level of increase then?

[Anonymous]

Anonymous wrote:What else is new? Do gooders always want to control other peoples' private property.

Like with zoning, for example.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are literally hundreds, if not thousands of economic studies that rent control doesnt work.

But dont let that stop you- Moco!

No one has tried real rent control. --Some expert, somewhere.

Here you go:

https://www.gsb.stanford.edu/insights/rent-controls-winners-losers

Paper on San Francisco rent control

https://www.brookings.edu/research/what-does-economic-evidence-tell-us-about-the-effects-of-rent-control/
"Rent control appears to help affordability in the short run for current tenants, but in the long-run decreases affordability, fuels gentrification, and creates negative externalities on the surrounding neighborhood."

https://www.vox.com/22789296/housing-crisis-rent-relief-control-supply

"Rent control does not and will not fix the underlying cost problem, and in a vacuum, a new rent control policy would likely exacerbate the supply crisis. But rent control as a tool for reducing displacement and as a part of a broader housing policy in high-cost cities and suburbs is necessary. Economists may be wary now, but if they don’t get on board and help design these policies, cities may be doomed to repeat the mistakes of the past"

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is a nice idea, but it’s going to affect many people negatively. Especially the mom and Pop landlords who will end up having to sell their properties if they can’t increase the rent more than what their mortgage or increases are on them
Do you have to apply to be able to increase over the 3% but it still needs to be approved and I’m guessing many will be denied as well. An appeal does it mean approval. When these mom-and-pop landlords have to sell their properties, the tenants will be without a home anyway.

I'm a mom and pop landlord. If you can't meet your expenses as a landlord without increasing the rent every year by 8% PLUS inflation, you probably should sell your property.

Also, the vast majority of rental units in Montgomery County are not owned by mom and pop landlords.

8%?

“ According to Jawando and Mink’s legislation, rent increases would be capped at 3% or the region’s CPI—whichever is lower, with certain exemptions.”