Well, this is a surprise. The council has implemented a regulatory oversight program with no clear statement of the problem they are trying to solve. This and other measures recently passed will accelerate a trend for small landlords to exit the market. As they do so, two things will happen: 1) current rental homes will convert to owner-occupied and 2) the remaining rental stock will be increasingly dominated by large corporate landlords who can accommodate the increasingly demanding regulatory environment. Unlike "mom and pop" landlords, corporate owners will certainly charge the highest rents possible. This is already transpiring in Seattle, which our city council is emulating.
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