Rent
control is one of the most controversial moves. It is regulation of the rent. It
is mandatory in some of the US cities, where rent control decides how much rent
will be paid on certain types of buildings. This type of control or restriction
(as called by most of the property owners) put devastating impact on realtors. Realtors
justify their statements and rage by comparing their business with other types
of business.
They
believe that if every other market changes with change in the economy, why to
control rents on the property. On the other hand, those who advocate rent
control argue that it provides opportunities of better living for all citizens
irrespective of financial status and affordability. Dean shares his views on
rental control by emphasizing other aspects as well. According to Dean, rental control does not mean simple control on
rents of the property; control on various other aspects of rental property is
what infuriates homeowners.
Apart
from controlling rents, other characteristics are shared below:
- A committee crosschecks tenant-owner relationship.
- It is duty of the committee to make sure that the law is followed properly.
- Landlord can file a complaint with the committee if the tenant is not abiding by the law.
- Landlord can ask for evacuation of the tenant if he/she is violating resident associations.
- Landlord can ask for evacuation if delinquent or any other criminal activity is reported.
- Tenant can file complaint against the landlord if he/she is asking for more rent than fixed by the committee.
- Tenant can file a complaint if the landlord is ordering for illegal or forced evacuation.
Dean
Graziosi says that rent control is an issue that has its advantages as well as
disadvantages. Dean Graziosi is an expert realtor. He is a millionaire and an
entrepreneur who knows how to take fullest advantage of your skills. Dean
started his real estate business at the age of 18, 20+ years ago. Today, he
signs more than 50 deals a week. He belongs to Arizona and conducts live events
and seminars throughout United States.
He is
also famous because of his bestselling books and longest running infomercial
series. Let us have a look on advantages and disadvantages of rental controls according
to Dean Graziosi.
Advantages:
- Fixed rent provides rental affordability to most of the citizens, especially to those who are living in a renting property for a long time.
- It provides subsidy to old people, single mom and other similar income groups, those whose income does not increase in the given period of time.
- It ensures a long-term relation between tenants and landlords. Both parties can benefit from this situation.
- As discussed above, both landlords and tenants can contact a third party in case of a dispute.
Disadvantage:
- Landlords consider it more tenants-friendly.
- Landlords does not take any benefit from the rent of the property in case if there is increase in the value of the property.
- Most of the landlords are reluctant to do any repair maintenance work in the property. According to tenants, it is due to lack of incentives.
- Due to lower apartment rents, most of tenants pass apartments to friends and relatives.
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