COLORADO- A bill introduced in the legislature this week is already receiving criticism.
It would allow cities and counties to enact “rent control” policies that could prevent landlords by raising the rent a certain amount.
“Right now, it’s perfectly legal for a landlord to double or triple the rent from month to month or from year to year,” said Senator Julie Gonzalez (D-Denver).
Gonzalez and a few other lawmakers are sponsoring the legislation, she believes it’s a solution for cities to consider addressing the affordable housing crisis.
“We’re not saying “thou shalt enact this policy,” we are giving you know cities and counties across the state another tool, if they so decide to enact this policy,” said Gonzalez.
The bill is facing strong opposition from the Colorado Apartment Association, which Teo Nicolais- a real estate investment professor with the Harvard Extension School is a member of.
“By passing a rent control measure, we’re really burdening people who can least afford it,” said Nicolais.
Similar policies have gone into effect in bigger cities and other states throughout the country.
In November 2018, California voters struck down a ballot question to repeal a law preventing rent control.
Nicolais cites research from a recent study by Stanford University showing the impact of rent control.
“We’re at a point right now in Colorado, where we need more housing, we need more affordable housing and rent control is not the solution,” said Nicolais.