Is it mandatory on EVERY apartment older than 15 years in New York? Or are the rent controlled apartments entered into the system on a voluntary basis?
I have three rental units. This will cut supply. The median home price in Oregon is 309k. Why should anyone invest that much money in a rental and have to worry about the state saying you cant evict for non payment? Add to the the risk of tenants tearing up the place, and making it so that it no longer meets basic habitability standards.
This is the kind of stuff I see in Virginia. There is no way I would do rentals with those type of restrictions. You hope your tenants are good people. Even the poor is no problem. The problem comes with entitlement and people that will see the property owners as the evil rich, when more than likely they are making payments as well.
Look at this case where this woman lived in a house and hasnt paid rent in 10 months! She still refused to leave.
Why not tailor a law just for those landlords? Why such a broad sweeping rent control/eviction law?
Does not matter, rent control is not unconstitutional.
Allan
That is why you must do background checks on every tenant you rent to, you as the landlord must do your due dillegence.
Allan
Read the OP. Landlords can still evict for non-payment.
They are just no longer allowed to evict for no cause.
Maybe they have laws already…id prefer landlords not spike rent…
Not that easy. There is no national database that tracks that. Would you support landlords only renting to people with a credit score over 800? What happens when they move from overseas? Tell them no because you cant conduct a background? How about when they move from a different state? They will often use a friend in that state to say he was their landlord and give them a glowing rental referral.
What will happen as a result of this is people will quit renting in that area, and take their rentals to locales that are more landlord friendly. The whole thing with any investment is risk vs reward.
There are already laws on the books making it hard to evict tenants here in Oregon. Even with non-payment, eviction can take a while. I’m not sure how long those laws have been on the books but that way predates these current laws that just passed.
I have never seen anyone evicted for “No Cause”. They are either violating the lease by living in squalor or are paying late or not at all. Everything comes first before the rent. Then they go to a judge and say but your honor, my kids will be homeless who will then give them additional time that still wont be paid.
Anyways. Good luck. I hope it works out for you.
Prior to this law there were renters who suddenly saw massive spikes of 30-50 percent when their lease was up. I highly support laws to curb that.
Makes evictions harder after the first 12 months.
“Those landlords” are just TDS fabrications.
Odd thing, this law.
Were I in Oregon, I wouldn’t be so worried about the rent control portion of the law. 7% PLUS CPI, gives me a pretty good bump if I needed to raise rents. And the “control” ends if there is a tenant turnover, so it would take a LONG period of tenant lease renewal before rent on a unit fell significantly below market rates – and that would also take a dynamic of rents far exceeding CPI for rental market rates to outpace what the law allows me.
I’d be more bothered by the camel’s nose under the tent with the other changes in the legislation.
It is these kind of laws that hurt the poorest of the poor. It to often pushes affordable rental property out of their reach and they are forced to live in sub standard rental properties. It is just like auto insurance. If you have a high credit score insurance is affordable. If you have a low credit score your insurance is far more expensive. So the poorest of the poor pay the highest premium cost. With no incentive for property owners to keep up their property it will soon become sub living standard. This is how we create ghettos. The state is divesting in it’s residents.
The reason for these laws is usually because the poor are already being priced out of the market. The interesting thing about this law is its 15 year exemption. This, at least, allows for new, unregulated const.
