Recent comments in /f/RhodeIsland

PeachesFromTulsa t1_j9ziic0 wrote

I own a 2-family home in PVD. I live in one unit and my tenants help me cover the cost of the mortgage. I keep my rent below market value and address any repairs or issues ASAP. It’s a good situation for everyone involved. I know this movement is meant to fight back against “slumlords” but some of these things will negatively affect those of us who are not part of the larger problem. I charge an application fee because it’s costs money to run a background check. It’s not a ton of money (I believe around $35 last time), but someone has to pay it. If I am reviewing multiple applications, it adds up. It makes the most sense for each applicant to cover their own background check. My biggest concern is sealing eviction histories. I try to be sympathetic to everyone’s unique situation in life but paying my mortgage each month requires my tenants to contribute. If someone has an eviction on their record, I believe that’s my right to know as a property owner. Housing in RI should be more affordable and safe, but these initiatives are not the way to do it.

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hobomom t1_j9zdrty wrote

I went to the Roger Williams Botanical Center this morning. There are some nice greenhouses filled with plants that you can walk around. It's warm and filled with nature. :)

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follyrob t1_j9zdct5 wrote

While I can appreciate the overall objectives in what the group is trying to do, I prefer evidence based legislation that is not just a "feel good" solution, but one that actually achieves the goals set out.

Rent control, or rent stabilization has had an overall negative effect on housing affordability in places where it has been implemented. It sounds good on the surface, but it effects the housing stock in some unexpected ways. There are numerous studies that highlight this fact. This one for example, concludes the following:

>Rent control appears to help affordability in the short run for current tenants, but in the long-run decreases affordability, fuels gentrification, and creates negative externalities on the surrounding neighborhood. These results highlight that forcing landlords to provide insurance to tenants against rent increases can ultimately be counterproductive. If society desires to provide social insurance against rent increases, it may be less distortionary to offer this subsidy in the form of a government subsidy or tax credit. This would remove landlords’ incentives to decrease the housing supply and could provide households with the insurance they desire. A point of future research would be to design an optimal social insurance program to insure renters against large rent increases.

I would encourage anyone to read the study in it's entirety or seek out your own resources, the conclusions are always the same.

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