City seeking input on tenant friendly initiatives
As an investor and owner of a property manager myself, I don’t like seeing headlines about our local City’s council seeking to pass more tenant friendly initiatives such as rent control, registration and inspections of all rental units and lengthening the time necessary for evictions.
If such policies are passed, my guess is it will stifle competition, eliminating a lot of small landlords/investors because they will be fearful of being sued, dealing with the bureaucracy and having to wait months to evict tenants.
Who has experience seeing legislation like this affecting their market? Does it truly ultimately backfire and eliminate market competition and raise rents? Any successful strategies for convincing politicians this is not the best course, although it sounds good to the masses?
Thank you!