The NAA Board of Directors has approved a statement of policy on rent regulation of apartments. The statement concludes that NAA opposes rent regulation as a strategy to respond to affordability concerns and instead supports policies that focus on enabling greater development of housing as the solution to affordability and supply concerns.
The policy statement was approved at the Board’s June 21 meeting and defines “rent regulation” to include but is not limited to:
Temporary price control
Mandatory inclusionary zoning
Other forms of price control or mandated caps on rents without compensation to owners by the controlling jurisdiction
The policy states that the “negative impacts of rent regulation have been thoroughly researched and the ensuing harm to communities and its residents has been thoroughly documented” and “is disqualified as a viable policy to affordable housing.”