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As long as the Indiana legislature is populated by Republicans bought and paid for by the apartment owners association, there will never be legislation to help correct this issue. The Indiana legislature has made it illegal for localities to pass ordinances regarding land lord tenant issues. They must figure only Democrats rent property. Indiana’s landlord-tenant laws are, at best, antiquated. And not going to get better under the current legislature and governor.
The hidden corporate landlords that fail to maintain their properties in livable condition are another problem Indiana’s super stupid majority legislature refuses to solve for the voters that are abused by those landlords
The article doesn’t mention that revenue management software such as Real Page and others will also suggest rent DECREASES, as it has been doing for the last year or so.
While rent growth exploded in 2021, rents are up on average less than 5% over a 4 year average, which is where the Biden admin is suggesting for National Rent Control. It begs the question what problem are they solving for if the market has corrected itself.
The reality is that rentals are a thin margin business, and rising costs have reduced investors cash-flow and returns. If it were not for rent increases, landlords would not have funds to maintain the housing stock we desperately need.
The only real solution is for deregulation of new construction and easing of zoning restrictions. 49/50 economists surveyed for the University of Chicago said that rent control will have no impact on helping middle or lower income families. More supply is the only answer and limiting an investors return by over regulating (outlawing pricing algorithms) will reduce investment and thus supply – with the net effect of higher housing costs over time.