RENTAL HOUSING, WHO HOLDS CONTROL?
Recently, advocates for a new NC Tenants Union were interviewed on a panel during the 2024 Local New Impact Summit hosted by Charlotte Journalism Collaborative. With the formation of the North Carolina Tenants Union, activists are making rental housing demands. They recommend that residents have more power in negotiating rent and lease terms. They fail to understand how crucial the lease is for the safety of all residents and the rental property owner. Abrupt changes can lead to detrimental effects that could harm residents and lead to potential damage the owner must cover.
The North Carolina Tenants Union also fights for housing as a human right. One of their goals is limiting how much rental property owners can charge for rent. Thankfully, North Carolina doesn’t have statewide rent control policies. Rent control reduces the encouragement for developing new properties, prevents investments, and reduces housing choices for low-income families. The North Carolina Tenants Union thinks they are helping lower-income residents when, in fact, their policies do the opposite. The key to affordable housing is a competitive market where a high supply drives down the price of rent. 67% of rental housing providers say they would not invest in a community with strict rent control policies. Being an anti-rent control state is how North Carolina provides affordable housing.
California has a rent control law known as the California Tenant Protection Act of 2019 or CA AB 1482. By making it difficult for people to find affordable housing and for business owners to thrive, California lost 817,669 residents. The result was a loss in a Congressional house seat, the first time in their 170-year history. All it takes is one bad policy to wreck an economy and forever alter the community. California’s rent control policies should be an example of what North Carolina residents don’t want in their future.
North Carolina residents take pride in living in a swing state and having significant influence over national elections. Allowing rent control policies that the NC Tenants Union is suggesting is a step in the wrong direction that could alter North Carolina’s influence. Listening to misinformation about the rental housing industry can harm Charlotte’s booming population growth and economy.