How Rent Control Affects the Housing Market
Real Estate attorney Alexander Lycoyannis was quoted in U.S. News & World Report sharing insights on how rent control laws shape the relationship between renters and property owners. He noted that these regulations aim to protect tenants from sudden rent hikes but also introduce new challenges for landlords in managing their investments and complying with complex rules. Mr. Lycoyannis also highlighted that the true effects of rent control are multifaceted, often requiring careful navigation by all parties involved.
"Tenants have stabilized rent and some predictability in what their rent is going to be. Landlords can invest in their buildings and recoup that investment by charging higher rents based on various formulas in the law," he explained.