Nicole Upano talks with MHN's Laura Calugar about the potential consequences of the White House's proposed rent control plan.
Housing providers have learned to adapt to the rapidly changing policy landscape, but the most recent idea of limiting rent hikes to 5 percent across the country has left many National Apartment Association members discouraged. Nicole Upano, assistant vice president in the organization’s Housing Policy & Regulatory Affairs department, assessed that, were it to pass Congress, the White House’s proposal would result in rental income loss through 2026 of no less than $28 billion.
In this episode of Multi-Housing News’ quarterly podcast series NAA Insights, Upano talks to Senior Editor Laura Calugar about the potential consequences of a nationwide rent cap.
“Any form of rent control is truly unacceptable,” said Upano.
According to President Biden’s proposal, landlords with upwards of 50 units in their portfolio would need to cap rent increases to no more than 5 percent. Otherwise, they lose federal tax breaks.
Tune in to hear more about the unwanted effects of the proposed bill! Here are the main points of discussion:
- How unaffordable is renting today? (1:00)
- Why rent control is on the public agenda all the time (2:40)
- What the proposal includes exactly (3:38)
- Who would be most affected by the rent cap policy (4:12)
- Immediate impact (4:47)
- Long-term effect (5:26)
- Positive consequences of the bill (7:17)
- Will it pass? (8:16)
- Alternatives to rent control (10:30)
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