The Rent Control Problem in Los Angeles
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yeah because landlords being fully in control has done wonders for housing
In Austin, rental prices have declined quite a bit because there’s no rent control and an abundance of building.
@@GrahamStephanto be fair it is likely the increase in supply that has cause rates to go down, not that there is no rent control.
@@Pianoliftingsupply increases because there is no rent control. People don’t build in rent controlled areas. Excluding zoning restrictions ofc.
@@EyeoftheHydramost rent control laws make exceptions for new buildings or limit cap rate to a reasonable amount.
@@Pianoliftingthe issue is there’s no land that isn’t devolved. So investors looking to build are forced to look at old apartment complexes and duplexes which are locked in rent control. Even if they completely rebuild the whole complex rent control still applies and previous tenants have first dibs at their old rates and added on units are still subject to rent control. Investors crunch the numbers and it doesn’t work out.
Bro shadow banned
Pretty sure rent control has a residency requirement.
I just saw him complaining about tenants not reading the lease
Unless their is a new landlord, the landlord has already 10x their money and has been off years. Any cost is made up with appreciation. Also isn’t rent control only enforced for 15 years?
Is there appreciation with rent control and a month to month rental agreement that the tenant has the right to renew in perpetuity? Would you buy a house and then subsidize the occupants living of a complete stranger for the rest of their life?
Not all rent control is the same, we tend to look at how it works in CA and NY because that’s who’s had it the longest in the US, but their implementations are notoriously bad, and were known to be bad when they were put in place. Check out how it works in Switzerland
How do you make money keeping it empty? The math ain’t mathin