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This episode is all about rent control and how it affects landlords. Where we get and understand the premise behind rent control, the issues that landlords must deal with while navigating the laws around rent control can be problematic.
There are several states with cities that already have rent control ordinances, and two states with statewide rent control. Not to mention more cities and states considering adding laws or ordinances regarding rent control on the horizon.
For landlords, rent control makes it difficult to keep up with maintenance and repairs. And for tenants, rent control is only helpful if they stay in the same rental for years on end. Because once they move, they’re paying market rates to landlords who are working to recoup lost income from their previous tenant.
Bottom line, rent control has been found that it’s not all cracked up as it appears to be.
Want to know what you should be prepared for in case it comes to the town of your rental property? Lots of good stuff in there for ALL landlords, regardless of whether your rental is in a rent-controlled area or not.
Check out this week’s podcast where we are discussing what it is, who it benefits, the challenges landlords face, and how to work around them.
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