• iopq@lemmy.world
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      5 months ago

      Those new tenants (if the new buyer is a landlord) will have to pay a higher rate

      • Cosmicomical@lemmy.world
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        5 months ago

        Sure, the landlords are going to sell each otger the houses every year to be able to raise the rents. Lol!

        • spoopy@lemmy.world
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          5 months ago

          There’s an average renter turnover. If the market would usually see a 5% increase yoy, and average stay us 5 years, this 3% policy means you’d have tenents “underpaying” by about 13%. So, to compensate, instead of new leases being 27% more expensive, they’ll be 40% more expensive after 5 years.

          The root cause of all the raising home prices and rents is always the same: nimbys and lack of housing supply. Rent control works for people who are already in a home, but makes the problem worse for everyone else (who move, or become adults, etc)