Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
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Anonymous wrote:Eventually the county will be run entirely by clones of Kristen Mink.
I don’t agree and would not want that but would take that every day of the week because Mink and her clones are smarter than Friedson and his clones, who would just let us keep getting fleeced by developers.
Rent control isn't smart at all. It's a feel good law. But nothing about it is smart.
If you think an anti-gouging law that caps rent increases at nearly twice current inflation is the same as the rent control laws that were the subjects of earlier studies there’s not much I can do to help you. What MoCo has is a basic consumer protection, but then again it’s not the only basic consumer protection that landlords and YIMBYs have lost their minds about. If rent control punishes real estate speculation at the margins, then it will exert downward pressure on land prices.
Rent control also has absolutely nothing to do with why projects are or are not getting built in MoCo right now.
Please look at NYC to see the effects of rent control and rent regulation rules. The only thing that gets built is very expensive condos. There is no downward pressure on land prices, if anything. Vacancy rates for rentals are at an all-time low. Because the legislature capped the amount that can be recouped for renovating apartments at a lifetime of $30,000, rentals are not being brought up on the market once someone leaves. They are being warehoused.
https://www.multihousingnews.com/the-unintended-consequences-of-nys-new-rent-laws/
https://www.fa-mag.com/news/why-nyc-apartment-buildings-are-on-sale-now-for-50--off-76847.html
The only thing that got built here before rent control was really expensive rentals. After rent control, the only think that gets built here are really expensive rentals. Condos would be an improvement because they would create more ownership opportunities, but the developers most active here don’t want to go that direction.
Our vacant units don’t get warehoused like the ones in NYC. They get flipped into short-term rentals thanks to planning’s willingness to let landlords classify parts of their buildings as hotels, allowing them to skirt the county’s short-term rental limits.
If you looked into our rent control law, you’ll see there isn’t a limit on what can recouped after a renovation. You’ll also see that MoCo’s increase limit is much higher than NYC’s and only applies to old units. Renovated units are exempt from MoCo’s laws, so if a building is renovated, it becomes exempt just like new units are.
In short, NYC’s rent control law isn’t analogous to MoCo’s. You hear rent control and go on a rant but can’t be bothered to look into the details.