As a realtor in Kingston I have serious concerns with the city’s push to enact rent control. The city is essentially saying to a subset of landlords that they no longer have property rights and must charge tenants a fixed price set by the government. In cities where rent control has been enacted it has proven time and time again to not work. Rent controls have done nothing to solve affordable housing problems in places like New York City, San Francisco and smaller towns in California. It has made the problem even worse with fewer housing units being built, and the price of rent at unregulated units skyrocket.
Another unintended consequence of rent control is that the lack of revenue for landlords can inhibit the maintenance of rent-controlled properties which can lead to more run down buildings. Also, anyone can live in a rent-controlled apartment no matter what their income is. Rent control does not guarantee that these apartments will go towards those who need help the most.
Study after study indicates that rent control does not help solve the issue of affordable housing. If the city wants to help it can start by incentivizing developers to build affordable housing. It can also look to update its zoning code to encourage development and investment.
Real estate broker, GRI