On Monday, November 9, D.C. Policy Center’s Executive Director, Yesim Sayin Taylor, is testifying on B23-873, the “Rent Stabilization Program Reform and Expansion Amendment Act of 2020.” A brief version of her testimony is printed below.

You can downtown her full testimony here.

Good morning, Chairwoman Bonds and members of the Committee on Housing & Neighborhood Revitalization. My name is Yesim Sayin Taylor and I am the Executive Director of the D.C. Policy Center, an independent, nonpartisan think tank committed to advancing policies for a strong and vibrant economy in the District of Columbia. I thank you for the opportunity to testify on Bill 23-873.

Today, the D.C. Policy Center published a policy brief analyzing the potential impacts of B23-873. Here are the main takeaways from this study:

Importantly, there is no guarantee that B23-873 would create citywide benefits for tenants. Some units would be converted to condos, and others might never be built. Further, there is a rental market beyond rental apartments in the city, made up of single-family homes and condominiums, and basements. This shadow rental market has an estimated 55,000 units within the financial reach of households that make under 80 percent of AMI. Affluent renters with limited access to the rent-controlled stock could bid up the rents in the shadow rental market, displacing lower-income households.

Thank you for the opportunity to testify. I am happy to answer any questions you might have.

Yesim Sayin Taylor is the Executive Director of the D.C. Policy Center.

D.C. Policy Center Fellows are independent writers, and we gladly encourage the expression of a variety of perspectives. The views of our Fellows, published here or elsewhere, do not reflect the views of the D.C. Policy Center.

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