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Evaluate the pros and cons of rent control and rent stabilization in NYCRent control is the government imposition of price ceilings on rent forapartments in certain areas of a city The goal is usually to protect therights of the poor Thus in a rent controlled or rent stabilized buildingthe amount of rent will not increase as quickly as inflation While the moralside of rent control may have some appeal in the long run the disadvantagesfar outweigh the advantagesThose who argue in favor of rent control say that it is the only way to protectlower-income tenants from landlords who overprice and from being forcedto move out of a neighborhood because they cannot afford the rent Limitingthe price that a landlord can demand helps maintain a citys ethnicdiversity and prevents the creation of slums on the outskirts of the maincity Another thing that proponents say is that by linking rent prices toapartment maintenance and material improvements rent control actually improvesthe state of housing Overall they argue that the goals of rent controlcan be reached if they are administered in a careful and just wayThe opponents though have both theoretical and practical experience ontheir side First rent control creates a market that is unfair for everyoneSince the rent is set at a lower than normal level an unsatisfied demandis created This increase in demand leads to an increase in the cost of rentsin the uncontrolled sector Thus two types of rents are created those thatare unfairly cheap and those that are unfairly expensiveAnother problem that is created is that landlords who own rent controlledapartments are often not able to earn enough money to adequately maintainbuildings This leads to run-down poor quality housing In many cases landlordslose so much money that they are not able to even pay the debt on the propertiesand they abandon them Both of these effects have been documented in NewYork and elsewhere and go against the goals of rent controlFinally rent control has the
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