What does rent control mean? — Debie, Victoria, Canada
Marshall Brain Answers:
The basic idea behind rent control is that the rent charged by a landlord is controlled by regulations, rather than being set by the landlord. Rent control may also regulate any increases in rent, and may also force the landlord to make repairs in a timely manner. Rent controls often arise because high housing prices can sometimes make it impossible for poorer citizens to find a place to live in larger cities.
Landlords and economists often are not very excited about rent controls. The reason why is described in this video:
The people who pay the rent and deal with landlords often favor rent control as they try to find affordable housing:
You can learn more here.