Rent Regulation needs to Go
Jun 23, 2008
On June 19, the Rent Guidelines Board [RGB] approved rent increase percentages for one and two year leases at the highest rates in years. The new increases approved for October 1 are 4.5% for a one year renewal and 8.5% for a two year renewal.
At the meeting Thursday meeting, tenants in attendance screamed and caused a raucous once the new rates were announced. Signs were held, whistles were blown, voices were raised and arguments ensued as tenants associations and their representatives disapproved of such an "unfair" burden on "middle income" renters. The irony is, "those who are complaining about the RGB increases imposed under the rules of rent stabilization are the same people who argue for keeping rent stabilization!"
It is clear that this form of government regulation on housing, which was at one time labeled as "temporary," is so broken, that the best solution is to simply toss it out. Why else would someone complain about a government program one minute and then argue for keeping it the next? By keeping rent control laws on the books in New York, politicians are playing an unfair con-job with the voting public.
The belief that rent control has benefits over deregulated housing isn’t based within the Democratic Party. Republicans from Manhattan also fight to keep rent stabilization. Not that this really matters, because there are currently no elected Republicans representing Manhattan, but the big fear is that when rent control runs its course, the Democrats will be the party that switches their campaign strategy as the party against rent regulation and Republicans will be on the wrong side of an arcane argument.
Manhattan"s housing market is becoming more and more a buyers market. Those choosing to rent are renting market rate apartments and not government controlled housing. These buyers and renters are voters too and when you argue for rent regulation, you are arguing against these voters. They aren't going to make the case of arguing for a government program if they know they aren’t entitled to it.
Recently, city officials led by Speaker Christine Quinn, have voiced their desires to repeal the Erstadt Laws that took the housing control away from the city. We cannot let the city take back control of a program they couldn't run in the first place. It is important that our elected officials and candidates, especially those outside of the five boroughs, argue the case against returning control of rent regulation to New York City.
Our Republican leaders, Assemblyman James Tedisco and Senator Dean Skelos, must begin a fight for the buyer and market rate renter demanding New York State abolish rent regulation. Our elected officials must draft this policy initiative with clear and concise wording on how New York will benefit from removing such regulations. Every other state that has removed the program increased its housing stock and has made rentals more affordable.
