Rent Control Bill May Have Opposite Result

Bills proposed here in Virginia aimed at capping rent increases will not advance this session, meaning the third attempt to stabilize rising state rents will be continued to next year. Two proposed bills would have allowed local governments to adopt provisions that would have prevented landlords from increasing rent without at least a two-month notice, and they would have set an annual allowance of between 7% and 15% for rent increases. In the Hampton Roads area, 53.5% of residents spend 30% or more of their income on rent according to one report. In the Richmond and Charlottesville areas, 52% of renters spend 30% of their income on rent. But according to a spokesperson for the Virginia Apartment Management Association, the bills could actually decrease housing supply and quality, meaning any rent control legislation would harm people instead of help them.