Could Rent Control Die by Decade’s End?

rent control Could Rent Control Die by Decades End?About those rentcontrolled apartments. Beyond the sad story of peeling paint and killer court fees, what really caught the Observer‘s roving pink eye was a chart from the Census Bureau listing the number of rent-controlled apartments since 1987:

SEE ALSO: Rent Guidelines Board Votes to End Two-Year Rent Freeze

1987: 155,361

1991: 124,411

1993: 101,339

1996: 70,572

1999: 52,562

2002: 59,324 [Numbers jumped due to a reevalutation following the 2000 census.]

2005: 43,317

2008: 39,901

At this rate, as our handy graph shows, rent-controlled apartments will be gone by the end of the decade. Unlike rent stabilization, where rents go up every year at the discretion of the Rent Guidelines Board, rent-controlled apartments have relatively stagnant rents and are much harder to deregulate. As the Post macabrely suggests, the decline in the number of rent-controlled apartments in the city is largely the result of the death of the apartments’ aging occupants, like the 97-year-old Magnus Saethre.

Rent Control