At the state and local level, rent control policies are being advertised as a solution to supply and affordability issues. With rent control, the rent charged to a tenant who lives in qualified housing is strictly regulated, with a maximum placed on the amount the landlord may charge the tenant. Therefore, rent control is effectively a price ceiling imposed by the governing entity.
Rent control is a rare instance where the research is conclusive: It doesn’t work.
These measures not only fail to improve most renters’ financial situation, but also shift economic burdens onto the housing provider with no counterbalance. This drives housing providers out of communities, stalls new development, reduces housing supply, lowers property values, and, over time, harms the area’s economy.
The National Association of REALTORS® (NAR) recognizes the need in this nation to produce rental housing and preserve the current rental housing stock.
NAR encourages states and municipalities to adopt zoning laws and building codes, or other legislation that encourage the construction of rental dwellings. NAR opposes moratoria on zoning or approvals for apartments and mobile home parks.
Rent control and rent stabilization are infringements upon private property rights. NAR opposes current and future rent control and rent stabilization laws on both residential and commercial properties. NAR encourages local and state REALTOR® associations to oppose any legislative measure allowing for rent control or rent stabilization efforts.
NAR opposes rent control for the following reasons:
In jurisdictions that have rent control, protections should be put in place for property owners, such as:
Check out NAR’s Rent Control Toolkit to help you tell policymakers and community leaders that encouraging new housing development is the best way to help America’s renters.
Issue Summary: Rent Control
Letters to Congress and the White House
Letters to Federal Agencies and the White House
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