Multiple Rent Control Bills Defeated
The Rhode Island Association of REALTORS® helped to defeat several bills that would have imposed rent control on residential rental properties.
Rent control has been a failure in Massachusetts and other parts of the country because it discourages production of new rental housing and makes it difficult for landlords to afford repairs and improvements. Since rent control is not needs tested, it benefits high income earners as well as low income earners. 10 Unintended Consequences of Rent Control Policies | National Apartment Association
Two bills, S0580 and H5264, would have prohibited landlords from increasing rent by more than 4% per year unless granted an exemption by the Secretary of Housing. If the landlord imposes a higher rent increase, this legislation would have allowed tenants to recover damages, punitive damages, and attorney’s fees.
Another bill, H5676, would have prohibited landlords from increasing rent by more than 10% plus the increase in the Consumer Price Index annually.
And, bill H5954 would have authorized the City of Providence to adopt rent control and “just cause” eviction ordinances that would have prevented landlords from terminating month-to-month tenancies or other rental agreements for any reason other than those listed in the ordinance. The bill specifically authorized Providence to regulate condominium conversions.