Rent-control policies can hurt landlords and renters as well

Increasing the supply makes housing more affordable

Rent-control policies, while wellintentioned, are not a viable solution to the current affordable housing crisis. In fact, they can negatively affect both landlords and renters in the long run.

First and foremost, studies have shown that rent-control policies can create a shortage of housing by reducing the number of available units and leading to long waiting lists for renters. This can cause housing prices to rise even more . ... Such policies disproportionately benefit those who have already secured housing while making it harder for new renters to find affordable housing. This is just the exact opposite of what our communities need right now.

Additionally, rent-control policies reduce the incentive for landlords to maintain and improve their properties. When rents are capped, landlords have less revenue to invest in necessary repairs and upgrades, resulting in a decline in the overall quality of housing. This not only harms renters by making them live in substandard conditions but also harms landlords by reducing the value of their properties.

It comes down to basic economic theory. Rent control will also discourage new construction in a marketplace. Any investors looking to reinvest in a specific city/state that has implemented rent control will be much less likely to look at that area as opposed to another without restrictions in order to gain a better return for the long term. Since this topic of rent control deters any increase or growth of new housing stock, it will lead to an even larger shortage of available housing units as well as many non-improved current housing inventory because of investors choosing not to buy existing properties and improve them. Unfortunately the landlords/investors will lose the incentive to build, improve and maintain properties, resulting in poor-quality housing for renters.

Additionally it’s also important to consider that rent-control policies can create unintended consequences like inequality in rental property selection among some landlords. This leaves tenants exposed to landlords that do not show fairness and equality.

Rent-control policies may seem like a solution to the affordable housing crisis, but they have negative consequences for both landlords and renters. Instead of relying on government intervention and rent-control policies, we need to consider many other solutions to address the affordable housing crisis — like building more new affordable housing units, increasing subsidies for low-income renters, and making the current city zoning guidelines much easier for increased building initiatives. These and many more ideas are all viable alternatives that can help to make housing more affordable for everyone.

Building more affordable housing is one of the most effective ways to address the affordable housing crisis.

By increasing the housing supply, we can help make housing more affordable for everyone. This can be done through a variety of means, such as increasing funding for affordable housing development, offering tax incentives for developers who build affordable housing and streamlining the permitting and zoning process to make it easier for developers to build new housing.

Increasing subsidies for low-income renters is another effective way to make housing more affordable. By providing more financial assistance to low-income renters, we can help to ensure everyone has access to safe and affordable housing. This can be done through a variety of means, such as increasing funding for housing vouchers and public housing, offering tax credits for low-income renters, and increasing funding for programs that provide financial assistance to lowincome renters.

Encouraging positive changes within our current city zoning regulations will definitely assist in helping the small property owner and larger developers put forth efforts to increase the overall need for housing supply for the marketplace. By taking action on all these fronts, we can help to ensure everyone has access to safe and affordable housing for our great city of Albuquerque for the future. Lastly the quick fix is not rent control, but instead implementing positive changes and solutions to help increase housing elements for all citizens today, tomorrow and beyond.