gmhTODAY 23 gmhTODAY Dec Jan 2018 - Page 23

Rent Control Continued from page 9 Quality of Rental Properties Deteriorates When rents are capped, landlords are less likely to maintain rental properties. When landlords have to subsidize their tenants’ rents, maintenance declines and has a spiraling effect on the entire community by lowering values, which, in turn, lowers tax revenue to local government. Less tax revenue undermines government maintenance and services, and the cycle continues. Higher Costs for All Renters Rent control also contributes to escalating costs of market- rate rental properties and new construction not subject to rent control laws. Rent control discourages investment in new construction, limiting supply and driving costs higher for the units that are built. GILROY • MORGAN HILL • SAN MARTIN Further, rent control increases costs for new renters in the form of higher taxes to cover government programs that implement rent control policies. Conclusion Instead of government intervention in the form of artifi cial market mandates like rent control, Californians will benefi t from lawmaker action that encourages housing develop- ment to boost supply throughout the state. Greater supply will increase affordability. Enacting policies that better match housing development with cities’ population growth, instead of failed rent control schemes, will help California return to its status as a great state in which to live, work, and raise a family. december 2018-january 2019 23