The D.C. Council is now considering at least six separate bills that would amend its rent control law. Among those six, Bill 23-873, the Rent Stabilization Program Reform and Expansion Amendment Act of 2020, which is based on the various policy proposals from the “Reclaim Rent Control” platform, proposes the most comprehensive and sweeping changes to the District’s rent control laws, including the universe of eligible units, calculation and timing of rent increases including, and various petition processes providers use to raise rents in order to make improvements to their buildings.
In this policy brief, the D.C. Policy Center’s Executive Director Yesim Sayin Taylor examines these potential impacts of the bill on the District’s the rent-controlled stock, rents, property valuations, tax revenue, and the future of the city’s rental housing. Her analysis shows that, over time, the bill would impact a significant number of housing providers in the city, the rents they could charge, the returns they realize, the valuations of their buildings, and consequently the tax revenue the city collects. Current tenants will likely be the immediate beneficiaries of the provisions of this bill. However, the bill’s intended goals–cheaper housing, less displacement, and more equitable housing–will likely be frustrated by how the housing market responds to it.
Read the report online
- Executive Summary
- Part 1: What are the provisions of the District’s current rent control laws?
- Part 2: How would Bill 23-873 change rent control laws in D.C.?
- Part 3: How would B23-873 impact the rent-controlled stock?
- Part 4: How would B23-873 impact rents, valuations, and tax revenue?
- Part 5: How would B23-873 change the future of housing in D.C.?
- Part 6: What can the city do to keep rents low?