Rent Control - Good or Bad? 4th of July Events 2018

By
Real Estate Agent with RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident BRE# 01215778

Family, Friends & Clients,

There seems to be differing views of what is right or wrong when it comes to the real estate market.  Ask someone if they like rent control and the answer from home owners and investors is polar opposite from those that are not home owners.  Rent control makes owning an investment property a bad investment.  Take the career of a Realtor such as us.  We have no pension and could never survive on savings or social security so we have invested in rental properties as a way to secure our financial future.  Prices rise every year and the value of our homes go up with these increases.  Our income rises enough to cover increased taxes and maintenance fees.  If our investment properties were changed to rent control costs would continue to rise yet our income would decrease.  The value of the properties would drop and we would need to sell.  There would be no safe haven that we could depend on for our financial future.  What are your thoughts?

 

 

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Comments (3)

Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Tony - you make a great argument against rent control. While it helps some renters, for a time, eventually it usually turns sour. In San Francisco, strict rent control has been in place for a long time. Tenants get lulled into a sense of security with their low rents, and never purchase a place of their own, even when they could. Eventually a landlord will want to sell; a new owner might want to live their and do an owner move-in eviction, and away goes any sense of security.

That is the situation friends of our are facing. They enjoyed low, low rent for many years, so didn't feel the urge to buy a place of their own. Now, he is facing serious medical issues, she has just retired and has medical issues of her own, the landlord is selling and they will be out of a home at the worst possible time for them.

Jun 24, 2018 06:01 PM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Rent control is a form or property rights restriction and therefore, I would be against it. 

Jun 28, 2018 08:51 AM
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good morning Tony Lewis 

Thank you for sharing your information with us 

Have a great day.

08/22/2018. 

Aug 22, 2018 05:37 AM

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