Mel Ahrens, MBA,  Kelly Right Real Estate, Customized Choices for your Real Estate Needs (Kelly Right Real Estate)

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Yes, more government intervention was SURELY warranted! 

*Yes, that was TOTAL sarcasm!

Mar 01, 2019 08:49 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

All of my rentals would be up for sale immediately after something like this was even suggested.

Foolish laws like this will lead to...

  • a shortage of rentals available.
  • A very high credit score requirement to rent anywhere.
  • Slums
  • A need for massive public housing projects for the masses of normal to low quality renters.
  • Many landlords will boot out everyone, start over with only top tier renters or turn their buildings into condos and other types of owner occupied buildings.
Mar 01, 2019 10:48 PM
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

And it's being talked about in many places.  Unintended consequences.  

Mar 01, 2019 05:38 PM
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Yes there is a blog post from our friend Lynnea Miller  about this very subject read my comment on her post... if you want the short answer NOT A FAN!

Mar 01, 2019 10:22 PM
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Crazy. Investors, come on down to Arizona, we don't play those stupid games!

Mar 02, 2019 06:50 AM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Even though I have not read about it I can say it's scary to me Mel Ahrens, MBA, Kelly Right Real Estate 

Mar 01, 2019 07:29 PM
Rainmaker
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I just saw Lynnea Miller 's post on the subject this morning and made it a late addition to my Second Chance Saturday post today.  Legislators, while creating new laws, rarely understand the laws of cause and effect.  This has trouble written all over it.   There are other ways to address the issue of affordable housing using the law of supply and demand. 

Mar 02, 2019 04:07 AM
Rainmaker
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Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

I believe in compassion, but not when it impedes on the rights of others by force. There are other workarounds that are not as intrusive as rent control is to the rights of property owners. 

Mar 02, 2019 12:52 AM
Rainmaker
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Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

This. Is. Just. Wrong.

Mar 02, 2019 12:02 AM
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

We are familiar with rent control in California. Several cities including San Francisco, Oakland and Berkeley have rent control. There was a state-wide ballot measure during the Nov. 2018 election that would have made it easier for local municipalities to pass rent control laws if it had passed. It did not.

With the high cost of living in the San Francisco Bay Area - and much of California and the West Coast - we have not heard the last of attempts to pass rent control laws.

We will all be watching Oregon to see what state-wide rent control does there.

Mar 01, 2019 06:57 PM
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Chicago is debating it here & hope it does not pass. All you have to do is look at New York for the situation it creates.

What's the rush on the legislation?

Mar 02, 2019 05:32 AM
Rainer
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Kenneth J. Jones, Broker of Record
Kenneth J. Jones, Inc., REALTORS® - Springfield, NJ
Serving Central New Jersey Since 1978

Mel Ahrens, MBA, Kelly Right Real Estate It seems the socialists have taken almost total control of the western coastal states.

One only has to look at the number of people vacating California to see how this is likely going to turn out for those states.

The only people who will remain are those who control those who can't afford to leave.

Very sad.

Mar 02, 2019 04:16 AM
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have not Mel, I will go read about it now.  Thanks 

Mar 01, 2019 07:12 PM
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The underlying movement is to counter homelessness. Imagine we have to pass laws to check some landlords greed...

Mar 01, 2019 06:17 PM
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I've not heard that; then again, can't say I follow what happens in Oregon. No doubt the idea will spread.

Mar 02, 2019 04:52 AM
Rainmaker
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Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

A lot of negativity here but no suggestions as to how an area can hold on to the people who keep an area going. What happens when all the service people have to move away because of high rents? What is an area supposed to do to avoid the closing of all the stores, gas stations, restaraunts, city workers, etc, etc

Mar 02, 2019 04:44 AM
Rainer
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J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

I did hear this yesterday (I believe since I have been up since 0350), when I was take a quiz from Bing.

Mar 01, 2019 07:48 PM
Rainmaker
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Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

No, I did not know that but then again Oregon is a very liberal state

Mar 02, 2019 08:30 AM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

We do not have it in NH and I am against the government regulating rents. They mess up everything they touch. Leave the renting to market forces. 

Mar 02, 2019 05:18 AM
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Peter Mohylsky. Santa Rosa Beach Expert
PrimeSouth Properties - Santa Rosa Beach, FL
THE BEACH IS OPEN

Interesting, no I have not years this 

Mar 02, 2019 04:34 AM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is in news reports.

Mar 01, 2019 06:59 PM
Rainmaker
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Susie Kay
Ultra Real Estate - Plano, TX
North Dallas Specialist

I used to live in San Francisco, California, where there is a rent control.  Most renters stay at their property for ages and won't move out because the rent increases limit is 8%.  Some people live in their property for 30+ years and pay $650 for a 2 bedroom apartment while new tenants will be paying $3-4k.  This is not happening in Texas.

Mar 02, 2019 08:45 AM
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I was not aware of this.

Mar 02, 2019 06:49 AM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mel,

We have been through this in CA...Santa Monica was referred to by locals as Soviet Monica.  LOL

Mar 02, 2019 10:35 AM
Rainmaker
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I wrote a blog about this yesterday.  We already lost buyers who were looking for investment property; they switched to another state.

Mar 02, 2019 12:42 PM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

A necessary evil of the broad reach of government. Unfortunately, when market pressure for affordable housing occurs, and folks have no place to go, something has to give. Perhaps too many Californians trying to escape the nirvana they have created?

Mar 02, 2019 09:20 AM
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

the rental market in my area is out of control.... it's difficult for young people families to find housing... a 4 room apt for $1,600/mnth with separate utilities should be controlled.... 

Mar 02, 2019 07:04 AM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I have and I can't wait to see this blow up in their faces.  Goodbye one year leases, hello six month leases.  Hello mandatory rent increases by the maximum allowed.  No more discretion to the landlord.

 

I'm sensing either a lot of listings coming up, which will crash the market, or a lot of condo converstion projects happening.

Mar 02, 2019 12:57 PM
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

Very liberal state so not surprised.

Mar 02, 2019 11:28 AM
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I am hearing this being talked about in many places, as Michael Jacobs states. 

Mar 02, 2019 08:42 AM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have read this! 

Mar 13, 2019 03:01 PM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow, I guess it myst me legal but I wonder about some of it.

 

Mar 04, 2019 09:43 AM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I am more a fan of regulating legislative compensation 

Mar 04, 2019 06:36 AM
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

The effect will B to drive landlordsaway 

Mar 03, 2019 05:08 PM
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Yes,  I have; it's intended to avoid pricing out the locals.

Mar 03, 2019 11:23 AM
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Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

Here's the thing:  If a tenant moves out of their own volition, the owner can raise the rent to market rates  There is no limit on this.

On a renewal, $1500 rental, they can raise 7% + CPI, so that would be $105 + CPI.

Honestly this is a pretty big jump.  

What I foresee happening, however, is owners will increase it the full amount each time, to make sure they stay with the market.  Where as without rent control, sometimes owners keep the rent the same for everal years, and then increase.  Most rents in my area go up 35-65 annually, not $100 or more.  So this might actually hurt tenants more than no rent control.  

I am all for market forces doing the job.  Now buyers will be wary or problems relating to rent control and may not buy in the area, reducing the avialable homes to tenants. 

However, this rent control isn't saying they can't raise the rent, they are just limiting how much each year. 

 

 

Mar 03, 2019 11:12 AM
Rainmaker
815,765
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Then are are MANY places in the USA with govm't imposed rent control. Understanding the factors that lead to such measures is important.

The suggestion that our law makers are in some smoke filled room glad-handing with some nefarious intent is mis-characterizing the situation.

We have the environmental elites (we have some of those on AR) and economic privileged (we have some of those on AR) who were successful in their "Keep everyone off our mountain' strategy.

Then there is Warren Buffet who bought a real estate company to manage thousands of rental houses because he understood the customary 3% annual rent increase was a fictional boundary. And creating scarcity in housing increasing the value of the real estate holdings.

AND, in my area of Florida, all of the big projects are for rental housing, NOT occupant owned housing.

Then, one morning we hear teachers/police/other first responders can not afford to live in the districts in which they teach, a requirement of some districts.

So what is a decison maker to do?

Require teachers to be paid adequately?

Go after the property owner?

Of course you go after the non-occupant owner.

Let's see what Warren does.

Mar 03, 2019 05:53 AM
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

It may be a good thing.

Mar 02, 2019 11:53 AM