Rent control will be on the Orange County, Florida ballot in November. You can always count on Democrats to put “get out the leftie vote” items on the ballot. Things like legalizing weed, rent control, free shit.
The bill would restrict rent increases to the rate of inflation or 5%, whichever is less. While I don’t own any property in Orange county, this sort of socialist insanity is dangerous. Let me use my own rental as an example:
So I own a home that I rent out for $1850. That would cap any rent increase at $92.50 per month, or $1100 a year. As I posted last month, my property taxes are up 10%, my landscaping costs are up 15%, insurance costs up 21%, and interest (in dollars) on the mortgage is up 18% year over year. No one caps my expenses.
If this were to come to pass, I would have to be creative in making up the shortfall. Say, increase the rent by the maximum amount, then start adding fees like washer and dryer rental, landscaping fees, parking permit fees, etc. The lease would plainly say that they are not part of the rent, but are still required. I don’t know, I would have to see the final law and talk to my lawyer.
This won’t end well for landlords OR tenants. Socialist price controls never do.