Updated over 7 years ago on . Most recent reply
Contact Your Legislator: Continue Rent Control Ban
https://realtorparty.realtoractioncenter.com/site/...
A bill is in committee to repeal the Rent Control Preemption Act. I invite all of my fellow investors to follow the link above and send a message to your local legislator that they vote NO. Up for hearing March 8th so act fast.
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http://www.chicagonow.com/getting-real/2018/03/chi...
Rent control in chicago. Government price controls almost always end in shortages and decrease in availale housing according to almost all economists.
- It discourages investment in rental properties. When your rent is limited you are certainly going to invest a LOT less in new construction or the renovation of rental units.
- Lower rents mean lower investment property values and, combined with fewer rental units, means lower property tax revenue for the city of Chicago. Of course, Chicago doesn't really need more tax revenue, right?
- Landlords will be caught in a double bind between restricted rents and rising property taxes. That will further depress prices.
Share this with your government officials. Same thing is happening in Los Angeles, San Francisco, Sacramento, Houston, Seattle, Portland, Boston, New York City etc
http://www.gazettechicago.com/index/2018/04/voters...
There go our property rights https://www.jacobinmag.com/2018/04/chicago-housing...