Rent control

Rent control (or rent regulation) is a system of laws for the rental market of dwellings, with controversial effects on affordability of housing and tenancies. Generally, a system of rent regulation involves: Price controls, limits on the rent that a landlord may charge, typically called rent control or rent stabilization Eviction controls: codified standards by which a landlord may terminate a tenancy Obligations on the landlord or tenant regarding adequate maintenance of the property A system of oversight and enforcement by an independent regulator and ombudsman The term "rent control" covers a spectrum of regulation which can vary from setting the absolute amount of rent that can be charged, with no allowed increases, to placing different limits on the amount that rent can increase. These restrictions may continue between tenancies (vacancy control), or may be applied only within the duration of a tenancy (vacancy decontrol). As of 2016, at least 14 of the 36 OECD countries have some form of rent control in effect in at least one area, including four states in the United States. Rent regulation is implemented in many forms. It is one of several classes of policies intended to improve housing affordability. However, there is consensus among economists that rent control reduces the quality and quantity of housing units.