I'm voting "yes" for St. Paul's rent stabilization measure. Unpredictable housing costs pose the greatest harm to people of color, those with low and fixed incomes and particularly families. Decent, stable housing is key to childhood health and development. If we're serious about tearing down systemic racism, we need to support policies like these.
Some predict a wholesale flight of rental property owners and developers that will worsen the scarcity of affordable housing in St. Paul. This ignores a much more important business driver: housing demand, which will remain high. It also ignores the reality that to build any new affordable housing, government incentives are effectively required.
The ordinance mandates establishment of a mechanism for owners to request exceptions. It specifies that increases in property tax, maintenance and capital improvement costs be addressed. Also, although state statute requires that this ordinance can only be established by a ballot initiative, after one year it would be open for amendment or even repeal by usual law and rule-making procedures.
This policy does not limit the base rent set in new buildings. Rent control policies elsewhere exempt new development from rent increase caps for some years, so this policy is argued to be radical in comparison. But are exemptions really needed? New buildings shouldn't require immediate costly capital improvements. Compared to owners of existing buildings, developers should have more certainty about the rent levels they need to assure profitability.
Rent stabilization is needed in St. Paul, and this ordinance is feasible and fair.
Catherine Lexau, St. Paul
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There seems to be an attitude that predatory corporate property owners are unfairly charging rental rates that hurt St. Paul citizens and are artificially inflating prices. This argument has gotten plenty of airtime. While on the housing market last year, my roommates and I shopped around several units, comparing prices, amenities, appliances, location and level of upkeep. We settled on renting a beautiful three-bedroom apartment in the Summit Avenue neighborhood of St. Paul for an affordable price. We rented from a private owner who had renovated most of the property himself, and I would often pass him painting, doing drywall or working on our downstairs unit.