Rent Control Less Effective Than Believed, Apartment Association Study Says
The National Apartment Association (NAA) has released new research regarding the effects of rent control policies. Their findings cast doubt on whether rent regulations, which vary state by state, actually help consumers.
Rent Control May Not Be the Answer
–Bob Pinnegar, NAA president and CEO.
The NAA conducted interviews with housing developers and providers in three markets from December 2022 to February 2023: St. Paul, Minnesota; Santa Ana/Santa Barbara; California; and Portland/Eugene, Oregon.
The respondents included a range of multifamily housing providers, from large firms that operate thousands of units to small investors with a handful of units.
They found that rent control policies and proposals have had unintended negative consequences. Housing providers say they are faced with difficult decisions and financial strains by having to cap their rents, causing them to forego things like maintenance and upgrades, reduced incentives for new construction, decreased property values, and more. These consequences ultimately will hurt renters and communities, their research shows.
NAA Poll Results
Over 70% of housing providers say rent control impacts their investment and development plans.
75% of Americans want policies that increase funding for local programs by attracting more residential and commercial development.
Americans are looking for more housing options.