Illinois Realtors reports:
Second Rent Control bill filed in 2019 would create more layers of bureaucracy
The second Rent Control bill that lawmakers will be considering in this legislative session will include the addition of HB 2192. This bill was introduced by state Rep. Mary Flowers, D-Chicago. The bill seeks to create six regional rent control districts and the rent districts corresponding Rent Control boards in the state.
Illinois Realtors reports that under HB 2192, these boards would have the role of setting rent thresholds, and there’s broad language in the bill that would allow these panels to create rules for evictions which include setting standards for monetary compensation and relocation assistance.
HB 2192 will be taking up position alongside a previously filed bill this year, HB 255. The bill HB 255 likewise calls for doing away with Rent Control Preemption Act of 1997.
Pros to rent control housing
Rent control can be a positive thing in that it allows those who might not otherwise be able to continue to live in a neighborhood to continue having access to their neighborhood rather than fluctuating cost of rent with the demand and value of the area at that time. Rent control can help protect tenants from being taken advantage of. Rent control will benefit the young, middle-income, and elderly people. A neighborhood is allowed to maintain an economic and social diversity. Importantly rent control can allow tenants to budget for their future knowing that cost of renting the property is not subject to change.
Cons to rent control housing
Rent control can provide an opportunity to discriminate against long-term tenants. Rent control provides landlords the opportunity to slack on repairing and maintaining units until end of lease. Studies have shown that there is an increase in housing investment when rent control is dismantled. Rent control limits landlords’ income and can also hurt communities that are dependent on property tax revenue. Rent control enables tenants to exploit the program or just never leave.