𝐑𝐞𝐧𝐭 𝐜𝐨𝐧𝐭𝐫𝐨𝐥 𝐢𝐬 𝐚 𝐭𝐨𝐮𝐜𝐡𝐲 𝐬𝐮𝐛𝐣𝐞𝐜𝐭.
It often gets emotional and ends up badly where one party accuses the other being greedy, and the others being naive.
It's tough to reach any mutual respect nowadays as the world becomes more polarizing.
For tenants' perspective, they need stable rent to plan out living expenses and have money left over to save or spend so that any sudden increase will jeopardize people's lives.
For landlords' perspective, they worked hard and saved, and finally purchased a property hoping to make some extra money for themselves and love ones. Suddenly everyone else in the same neighborhood is charging twice the amount of the rent, while the landlord is stuck with the same rent because of the rent controls!
I think both parties have their arguments, and the best way to solve this issue is to have transparency.
𝐅𝐢𝐫𝐬𝐭 𝐨𝐟 𝐚𝐥𝐥, 𝐛𝐨𝐭𝐡 𝐩𝐚𝐫𝐭𝐢𝐞𝐬 𝐰𝐚𝐧𝐭 𝐜𝐨𝐧𝐬𝐢𝐬𝐭𝐞𝐧𝐜𝐲. Tenants wish to consistent rent so they can plan their living expenses, landlords want steady income so they can plan their investment.
𝐒𝐞𝐜𝐨𝐧𝐝, 𝐭𝐡𝐞𝐲 𝐛𝐨𝐭𝐡 𝐰𝐚𝐧𝐭 𝐠𝐨𝐨𝐝 𝐩𝐞𝐨𝐩𝐥𝐞. Landlords want tenants who pay rent and don't damage the property while tenants want landlords who maintain the property and give them good living conditions.
We should have a peer to peer review systems so that everyone knows who are the good landlords and tenants.
Furthermore, all rent should be transparent so that the market can function as supply and demand.
Mr. Jones will be happy with the $1000 rent if he knows that all the other landlord in the neighborhood is charging a similar amount in the identical property types.
Miss Chen will be happy with the rent increase if she knows that the unit she's living now is on the market for $1000, instead of $800. She'll know that the increase is fair and not just some bullshit or greediness from her landlord.
Do you see what I'm getting at?
Of course, it is very hard to implement this because of the privacy act, but this is the only way to work out a situation where both parties will be happy.
And no, I do not believe the government can do anything on this!
𝗪𝐡𝐚𝐭 𝐝𝐨 𝐲𝐨𝐮 𝐭𝐡𝐢𝐧𝐤? 𝐒𝐡𝐚𝐫𝐞 𝐲𝐨𝐮𝐫 𝐢𝐝𝐞𝐚𝐬 𝐚𝐧𝐝 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐬!
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