I am an investment property owner, and while the new annual rent caps are not unmanageable, this bill does not address the real problem, which is a lack of affordable housing. Too many people don't want apartments (or even lower-income people) in their neighborhoods, and virtually everyone fights development tooth and nail. If there is no development, there will be no growth. What do we really want as a society?
I experienced rent control when I managed few large apt complexes in the Marina district of SF in the late 80s early 90s. As a professional I kept up with fair market rent and follow all the rules of rent control. It was ok and should not have any big negatives for most residential units owners who hires professionals. I think it will hurt those owners who has not given their tenants fair market rent but still have way behind low rent that the tenants are enjoying. The below fair market rent units (4 or more units) will reflect a lower value of their properties using the cap rate income approach valuation!
Lisa, you are in the business and would be the best one to answer this question.... Rents are generally controlled by the various local market conditions.... This is tweaked by subsidized housing programs and other factors But generally Rent controls are bad for business in general.....
ANYTIME the government gets “involved” the people will suffer. Oregon’s land control laws are the reason property values are so high. Again government involvement.
It's going to hurt Income property owners here in Southern Oregon. But it's also going to hurt Tenants because our counties refuse to let bigger industries in here to support a higher income polpulation
Hi Lisa, I think we will end up less rentals as the small land lords exit. the large ones might be able to handle it. Ultimately I think there will be unintended consequences.
I have a lot of friends selling there rentals because they do not want the government mandating to them how and when they can have a tenant removed or raise the rent.
Answers (11-20)
It’s gasoline on a fire. Nothing good can come from governments intervening in private matters
I am an investment property owner, and while the new annual rent caps are not unmanageable, this bill does not address the real problem, which is a lack of affordable housing. Too many people don't want apartments (or even lower-income people) in their neighborhoods, and virtually everyone fights development tooth and nail. If there is no development, there will be no growth. What do we really want as a society?
I experienced rent control when I managed few large apt complexes in the Marina district of SF in the late 80s early 90s. As a professional I kept up with fair market rent and follow all the rules of rent control. It was ok and should not have any big negatives for most residential units owners who hires professionals. I think it will hurt those owners who has not given their tenants fair market rent but still have way behind low rent that the tenants are enjoying. The below fair market rent units (4 or more units) will reflect a lower value of their properties using the cap rate income approach valuation!
I think landlords will raise the rates and more will sell their properties.
Lisa, you are in the business and would be the best one to answer this question.... Rents are generally controlled by the various local market conditions.... This is tweaked by subsidized housing programs and other factors But generally Rent controls are bad for business in general.....
ANYTIME the government gets “involved” the people will suffer. Oregon’s land control laws are the reason property values are so high. Again government involvement.
I think it will harm owners.
It's going to hurt Income property owners here in Southern Oregon. But it's also going to hurt Tenants because our counties refuse to let bigger industries in here to support a higher income polpulation
Hi Lisa, I think we will end up less rentals as the small land lords exit. the large ones might be able to handle it. Ultimately I think there will be unintended consequences.
I have a lot of friends selling there rentals because they do not want the government mandating to them how and when they can have a tenant removed or raise the rent.