A cap on rent for affordable housing for American people no price gouging on rent
Rent over the past four years has tremendously hurt the people
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I agree with this. I spend $1275 a month on housing. Yes, all bills are included, but taking a total for the entire complex, that’s 9 million dollars a year. No way the bills are high enough to legitimize that.
That is a challenge when a landlord is not wealthy. Interest rates have skyrocketed, as have property taxes. I am a landlord with one house I rent out. I had to increase the rent this year for the first time in a few years because those two factors made it so I couldn’t afford to pay the balance after the rent I was getting before. I still pay more than my the rent covers, but I simply couldn’t afford to pay the entire difference once it grew so much.
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This is a Kamala type proposal. While I have compassion for those struggling with high rent, the market gives cheaper options.
The reason why you cannot find even cheaper options is because landlords have expenses that require a minimum break even rent. Landlords:
- Pay property tax, rent to the government
- Pay house note
- Insurance
- Maintenance
- Yard care, even if not the lawn
If you want lower rent, lobby to reduce the government leaching off independent landlords. Government makes may times more profit than many landlords.
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I disagree on this one. I help my 84-year-old mother manage three properties that she owns. She has consistently refused to raise the rent on her renters for several years. However, this past year property taxes have increased, again, and insurance has gone through the roof, especially here in California. In California, many insurance companies have left the state altogether because of overbearing regulations, leaving just a few viable companies who are only offering exorbitantly increased rates. Like any other business, landlords are in business to increase their profits. And, nowadays most landlords are elderly people who need that income because social security pays them only pennies of what they had paid in over the course of 50 years of working. For these reasons, and others, landlords should not be financially punished for renters who are not buying their own homes.
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I think we should tax landlords a lot of taxes if they own a certain number of houses. If this happens then rent will go down. It will also give Americans a chance to buy a house
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Preach. Should apply too businesses too.
No, this isn’t a function of the federal government. Let the market answer this problem. The government gives tax incentives for land development already. More quantity equals lower prices.
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Taxation only leads to higher prices. That won’t work at all. The more a business is taxed, they have one of two options: raise prices or go out of business. We need to kick property tax all together, whether business or private.
We need to find a way to eliminate more charges as well without subsidies. What the government subsidizes they control. In order to alleviate that control, we need to steer clear of their handouts. One thing would be better communication of previous landlords about the condition the tenant left their place in so that only those who will not keep a clean house are affected by high rent or rental turndown. Maybe a renter’s score or something. Impact factors would include undisclosed pets in the home, undisclosed extra people, physical damage to the place, smoking/vaping inside the home, drug use inside the home or on the property, extreme volume music or noise complaints, constant police calling, screaming matches between adults and or children, These are all controllable factors, most of which lead to physical damage to the home which needs repair before it can be rented again. Being able to avoid these types of people would drastically drop the amount of damage to rental properties and hence rent would go through the floor for cost.
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Its completely fine when you do it little by little over the years. But the place that im living at now, ive been here for 6 years and its just a shit show. Before NY changed the law to what they could cap each year my place was only allowed an extra $50 a year. Now theyre charging me $200 extra a year and thats with them making no changes at all to the apartment. Ive begged them to change the carpets out for me but they refuse to do so, yet im supposed to pay $200 extra each year to live like this? Its been almost 5(made an edit, ive gone back to check the date and it happened at the END OF JULY!) months now and they havent come to fix my bathroom. The tiles in my shower have rotted out so I have a huge hole in my shower wall and theres mold seeping through the walls, but I just paid them $200 more for rent 8 days ago. Its not right. There needs to be a cap. Or they should have to make updates according to what theyre trying to upcharge.
If you tax the landlords they will raise rents to cover their costs. The saying goes"if you want less of something just raise the taxes on it". It will stifle further investment and development.
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There already is a rent cap on “Affordable” Housing. It is based upon the Area Medium Income (AMI). As more well-paid employees more into the area, the AMI increases. In the urban area in which I am living, it is legal to raise the rent 10%. Many people in my building live on Social Security or SSI. Did Social Security increase 10%?
I am supporting this policy to draw attention to the problems with “Affordable” Housing. The rent cap does not solve the problem for seniors or the disabled.
When I moved into 55+ Active Adult “Affordable” Housing, I rented the cheapest apartment for which I was qualified, according to the manager. The rent was approximately 50% of my income. By the time I got on Section 8, my rent had increased to 70% of my income. If I had decided to move, I would have had to be homeless for months in order to save up enough money for deposits and moving expenses. Physically, it would be difficult to move due to age and health. In addition, to make matters worse, I would probably have had to give up good public transit for cheaper rent. Many politicians put market rate apartments near transit hubs.
All levels of government are involved in financing “Affordable” Housing. I have been told that it would be a nightmare to untangle. Option might be:
-Separate rent caps for employed and retired/disabled/low-income
-Social Security cost of living increase to include rent increases
-More Section 8 vouchers available
-An additional simplified pathway of funding “Affordable” Housing that can be modified and that can make housing truly affordable
-Rent-to-buy apartments