While rent control appears to help housing providers in the short run, in the long run it affects their investment and development plans, according toby the National Apartment Association . Potential actions include reducing investments, shifting plans to other markets and canceling plans altogether. Furthermore, a full two-thirds of housing providers would not consider investing in markets with strict rent control policies.
NAA’s analysis highlights the unintended and detrimental consequences of rent control. From December 2022 to February 2023, NAA commissionedto conduct interviews with housing providers and developers from three markets affected by rent control policies and proposals: St. Paul, Minnesota; Santa Ana/Santa Barbara; California; and Portland/Eugene, Oregon.
The housing provider research was supplemented with an online public opinion poll across the country in February 2023. The poll questions focused on housing availability, residential construction and policy perspectives. Here are the key findings from the interviews and public opinion poll.
“NAA’s latest research aligns with decades of data and real-life case studies that all lead to the same conclusion: rent control is a failed policy that brings more harm than relief to local communities,” said Bob Pinnegar, NAA president and CEO. “It’s not surprising that policies that make it harder for housing providers to do their jobs lead to less housing options.
whoa you mean landlords oppose rent control!? that's fucking crazy dude