Proposals to bring rent control to Chicago and other Illinois municipalities could have unintended, negative consequences, says Illinois REALTORS® Local Governmental Affairs Director Brian Bernardoni.
“We’re opposed to it. Rent control is not the answer to the affordable housing program in Chicago. It will create more problems than good,” Bernardoni told WBEZ 91.5 Chicago in the recent report, “Could Rent Control Come to the Second City?”
Rent control might prompt developers to sell off buildings or turn them from rentals into condos and that would affect the overall tax base, he said.
“Both of those things would have a massive impact on the tax base, and when the tax base lowers, the tax rate has to go up,” Bernardoni told WBEZ. “This is not something to be played with.”