(MassBudget staff and Board members provide counterpoints to the main topic in this article)
Advocates for small rental property owners describe the rent control proposal likely headed for next fall’s ballot as the most “restrictive and aggressive” the state has seen to date and say it would be detrimental to small landlords.
Small property owners operate on tight margins, so many are typically only a few missed bank checks away from bankruptcy or losing their business, said Amir Shahsavari, president of the Small Property Owners Association.
He said if these “mom and pop” businesses no longer exist, tenants will be in a “tough predicament” if properties are taken over by larger corporations because they will no longer have a person to connect with immediately if there are issues in their building, a benefit usually provided by smaller landlords.
MassBudget reference:
“Rent often is the first place people put their money towards,” said Chelsea Sedani, director of advocacy at the Massachusetts Budget and Policy Center. “If you don’t have that, it makes a lot of other things very challenging.”
Decreased rents could have an effect on the larger economy as well because they could potentially increase purchasing power.
“If we alleviate the pressure that people are feeling around housing costs, we’re going to make it easier for them to spend in other areas of their lives,” Sedani said.
The current proposal would require rent control for all of the state’s 351 municipalities, including New Bedford.
