Washington State Senate Committee Hears Presentation on Potential Impact of Rent Control

The Washington Multifamily Housing Association reports that yesterday, December 1st, the Washington Senate Committee on Financial Institutions, Economic Development & Trade received a presentation on the impacts of rent control on private investment in residential housing. The presentation focused on housing industry effects if the legislature implements rent control.

Those effects include:

• A loss of 11% of new homes over the next 10 years
• A decrease in state revenue, including $200 million in property taxes and $301 million in sales tax
• A reduction in available housing options for those that choose to call Washington home

Review the report Rent Control in Washington State - The Impact on Housing Affordability here. You can also view the video of yesterday's presentation here. The presentation ends after roughly 36 minutes. 

For more information about the impact of rent control on Washington state, visit the Partnership for Affordable Housing's website. The Washington Multifamily Housing Association is a founding member of Partnership for Affordable Housing, a nonprofit formed out of a shared interest to create fresh ideas and solutions to providing a wide range of housing options for all Washingtonians.