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The Impact of Rent Control

HB23-115 the Rent Control Bill has been amended to exclude buildings constructed in the last 15 years and would allow landlords to raise rents by 3% plus inflation annually.
The Common Sense institute released a study on the effects of rent control in other cities and their estimates of the impact of rent control in the City of Denver.
· A 2018 study done in San Francisco found that landlords regulated by rent control reduced rental housing supply by 15% by selling the units or redeveloping the buildings.
· In NYC a study found that the city lost 130k unit of rent-controlled due to condo and co-op conversions and expiring tax breaks since 1993.
· A study in New Jersey found that rent-controlled cities have around 25% fewer rental units than do cities without rent control.
· In the City of Denver they estimate that the city needs 56k new housing units to be built by 2030 and they estimate that only 39k new units would be built if a 3% rent control cap is passed by the City and County of Denver.