RENT CONTROL: dejavu all over again: Does not Work

[pinonuevo]

New rent control law proposed in Dominican Republic

<p>Santo Domingo.– A new draft law aimed at regulating real estate rentals and evictions has been approved in its first reading by the Chamber of Deputies. The proposed legislation introduces several key provisions, including shared legal costs for rental contracts and a limit of two security...

dominicantoday.com

Rent Control creates a Black Market.
The Landlords are not stupid.
Rent control never works.
The role of the government is to collect taxes.
The market determines the price of Rent not a bureaucrat who has never run a lemon stand .

If the government wants cheap rent…let it build it at its own expense not at the expense of the investors.

A free market brings efficiency and investment…. innovation and development…..

Boston tried it: Old tenant paying 75.00 per month for 30 years; landlords could not pay the taxes and just let the buildings collapse in disrepair. IT DOES NOT WORK......PERIOD

 

[pinonuevo]

Is rent cheaper to rent in Dominican Republic or is it just more convenient to rent?

 

[chico bill]

New rent control law proposed in Dominican Republic

<p>Santo Domingo.– A new draft law aimed at regulating real estate rentals and evictions has been approved in its first reading by the Chamber of Deputies. The proposed legislation introduces several key provisions, including shared legal costs for rental contracts and a limit of two security...

dominicantoday.com

Rent Control creates a Black Market.
The Landlords are not stupid.
Rent control never works.
The role of the government is to collect taxes.
The market determines the price of Rent not a bureaucrat who has never run a lemon stand .

If the government wants cheap rent…let it build it at its own expense not at the expense of the investors.

A free market brings efficiency and investment…. innovation and development…..

Boston tried it: Old tenant paying 75.00 per month for 30 years; landlords could not pay the taxes and just let the buildings collapse in disrepair. IT DOES NOT WORK......PERIOD

Let the government build at its "own expense".
Government is the people's money so you would be subsidizing the rent anyway.


Governments that raise fees on permits, plan checks & then takes months to issue permits, require cost increasing building modifications, passes restrictive zoning and increases property taxes, and allows waves of immigrants needing shelter and then calls for rent control is the definition of insanity.

I wonder how long it will be till the DR learns from the 'first world' and starts imposing such things as new school fees, clean air fees, policing fees, and road improvement and sewer fees to any new proposed developments in DR?
Someday that will happen.

 

[chico bill]

However I agree with some protection on limits to rent deposits but injecting banks as the holding vehicle for a renter's deposits is not the role of banks and only adds a layer of complexity.
But I disagree on all deposits being 'refundable'.

Every landlord faces costs when tenants change be it paint, cleaning, plumbing, changing locks, flooring or cabinet repairs, etc. So I think they should be allowed some non-refundable amount plus be allowed to access additional damage charges.

Landlords prefer long term tenants who pay on time because apartments that sit empty and require advertising to re-rent don't make money.

 

[josh2203]

New rent control law proposed in Dominican Republic

<p>Santo Domingo.– A new draft law aimed at regulating real estate rentals and evictions has been approved in its first reading by the Chamber of Deputies. The proposed legislation introduces several key provisions, including shared legal costs for rental contracts and a limit of two security...

dominicantoday.com

Rent Control creates a Black Market.
The Landlords are not stupid.
Rent control never works.
The role of the government is to collect taxes.
The market determines the price of Rent not a bureaucrat who has never run a lemon stand .

If the government wants cheap rent…let it build it at its own expense not at the expense of the investors.

A free market brings efficiency and investment…. innovation and development…..

Boston tried it: Old tenant paying 75.00 per month for 30 years; landlords could not pay the taxes and just let the buildings collapse in disrepair. IT DOES NOT WORK......PERIOD

Did I miss something, but in which part of that article is rent control discussed? I only see about the deposits and evictions?

 

[josh2203]

However I agree with some protection on limits to rent deposits but injecting banks as the holding vehicle for a renter's deposits is not the role of banks and only adds a layer of complexity.

So as far as I know, this is exactly how it is officially done in EU, at least in Germany. I'm not sure if the law mandates that but as a fact, a separate bank account is created for the rental deposits to be stored there to guarantee that neither, the landlord nor the tenant has access to those funds during the lease.

But I disagree on all deposits being 'refundable'.

Every landlord faces costs when tenants change be it paint, cleaning, plumbing, changing locks, flooring or cabinet repairs, etc. So I think they should be allowed some non-refundable amount plus be allowed to access additional damage charges.

With this, I partially disagree. There is an important difference between normal wear and damage caused to the unit by the tenant. Any intentional or non-intentional damages that are not part of what can be considered as normal wear can be taken from the deposit, nothing else. So changing locks (unless it was a forced eviction), flooring or paint are part of normal wear unless extreme. So for this kind of work, the deposit should not be used.

Case in point: Just last time the tenants in on my SIL unit vacated, they were refunded the full deposit as they did nothing wrong there, but my SIL and his husband still painted the unit and repaired all the other stuff that is part of normal wear. The tenant had not damaged though anything there.

 

[chico bill]

So as far as I know, this is exactly how it is officially done in EU, at least in Germany. I'm not sure if the law mandates that but as a fact, a separate bank account is created for the rental deposits to be stored there to guarantee that neither, the landlord nor the tenant has access to those funds during the lease.


With this, I partially disagree. There is an important difference between normal wear and damage caused to the unit by the tenant. Any intentional or non-intentional damages that are not part of what can be considered as normal wear can be taken from the deposit, nothing else. So changing locks (unless it was a forced eviction), flooring or paint are part of normal wear unless extreme. So for this kind of work, the deposit should not be used.

Case in point: Just last time the tenants in on my SIL unit vacated, they were refunded the full deposit as they did nothing wrong there, but my SIL and his husband still painted the unit and repaired all the other stuff that is part of normal wear. The tenant had not damaged though anything there.

A rational landlord can decide what is normal wear and tear and damage and should be fair.
Broken windows, cracked tile, cabinet doors torn off, refrigerator shelves broken or missing, towel racks torn down, mirrors broken, closet door rails bent and for sheetrock homes - holes knocked in walls, .

Believe it or not I was once charged for a broken shower door that was knocked off its rail and hit the toilet when my apartment was broken into by burglars who stole some stereo equipment from me. That one pissed me off but I did not control the money

 

[Notengo]

Believe it or not I was once charged for a broken shower door that was knocked off its rail and hit the toilet when my apartment was broken into by burglars who stole some stereo equipment from me. That one pissed me off but I did not control the money

You are responsible for the space you rent and your belongings in it. That’s what your own insurance is for, if you have it. The landlord however may be responsible for the outside of your space, broken doorlocks or windows in case of burglary.

You could have had a party and a drunk guest knocked of that door, is the landlord responsible for the damage?

 

[josh2203]

A rational landlord can decide what is normal wear and tear and damage and should be fair.
Broken windows, cracked tile, cabinet doors torn off, refrigerator shelves broken or missing, towel racks torn down, mirrors broken, closet door rails bent and for sheetrock homes - holes knocked in walls, .

Believe it or not I was once charged for a broken shower door that was knocked off its rail and hit the toilet when my apartment was broken into by burglars who stole some stereo equipment from me. That one pissed me off but I did not control the money

So those examples would definitely be damages caused, I agree you on this one. But the ones including painting, wear and tear on floor, NOT damaged floor and changing locks, those would be something the landlord chooses to do and therefore not to be taken from the deposit. Rule of thumb: Anything that you can expect to be worn out over time by simply living in a unit like a normal human being is not to be taken from deposit, anything further yes.