Updated: Sep 16, 2019
Tell me, how to proposed rental rules increase our housing supply?
The Safe and Affordable Neighborhoods campaign is fighting a draft City Council ordinance that would limit how much landlords can consider prospective tenants’ criminal histories when screening them.
I’m more than a little perplexed about the new rental ordinances being proposed in Minneapolis (“Tenants, landlords debate new rule,” Aug. 29). The stated goal is to increase the supply of affordable housing to lower-income residents. The net result of these proposals can’t help but to achieve the exact opposite. Being forced by the city to take on people with evictions, criminal records and practically nonexistent credit scores will inevitably increase costs for those landlords, who will be forced to write off the losses. Which, of course, means they will have to raise rents to cover those losses.
There is also the small matter of soaring insurance costs, as companies providing insurance coverage could pull out of this particular market if landlords are not allowed to screen tenants. Those, if any, who remain will raise premiums substantially making Minneapolis a less desirable place to build or invest. Along with raising rents on the existing inventory, exactly how does this increase the supply? I must have missed something here. And, please don’t suggest it is rent control. I’m still perplexed.
MARK WENDT, STILLWATER