URGENT -- Contact Colorado House members today to OPPOSE HB21-1117 in regards to Rent Control
ICOR is joining the Colorado Landlord Legislative Coalition and the Colorado Apartment Association in opposing HB 21-1117. This bill authorizes local governments to mandate rent-restricted units on newly constructed or redeveloped housing. There are no limitations on local government requirements, leaving the local government free to impose rent control on all new construction. This bill will allow local governments to dodge any responsibility for funding affordable housing. Unfunded affordable housing mandates will stifle the development of new housing and transfer the full cost of subsidized rent to the other residents in the community.
- Rent control only helps the few who receive controlled rental units
- Rent control creates scarcity
- Builders will choose not to build housing units and investors will invest elsewhere leaving less housing available
- It will become more difficult for people that do not already have rent-controlled housing to get housing
Currently, if a local government wants to mandate rent control on a portion of newly constructed housing, it must contribute its fair share to the project. Without government contribution, many new housing communities will not be built at all. Those communities that are built will require higher rent rates on the tenants in the other units. Colorado should not make working-class tenants the sole contributors to future affordable housing.
HB21-1117 is the opposite of what is needed in Colorado today.
Please click below to compose your email to members of the House Transportation and Local Affairs Committee regarding HB21-1117.
