‘Rent Control Makes No Sense’
Your editorial (May 23), “Rent Control Makes No Sense,” in itself makes no sense.
New apartment houses are not subject to rent control. So, your statement, “That rent control causes owners and builders to shy away from apartment house construction,” is not valid.
When an apartment under rent control becomes vacant, the owners can rent that apartment at whatever rate the tarrif will bear. It is no longer under the rent control umbrella. However, after one year that unit is subject to the allowable rental increase.
Under rent control the past five years, even with that protection tenant rent has increased 43%. And, landlords are not obligated to do anything in the way of redecorating apartments.
Tenants paid for the installation of smoke alarms, registration of apartments and other items normally the responsibility of the landlords.
Apartment houses built 15 years ago were constructed with land and labor costs of that era. Under rent control those apartments are priced at least 250% over their original rental.
Vacant apartments no longer under rent control are being rented at at least 500% over their original rental.
Professional apartment house owners, such as my landlord, whose main business is ownership of that type property, maintain their property. The speculators who purchased property the past few years to make the “big bucks” and inflated the price of those properties are the problem. They have no moral responsibility, they are greedy and it reflects their attitude in any venture they pursue.
Your editorial makes no sense!
MILTON L. DuBANE