Biden Announces Plan to Limit Rents Nationwide, NAA Responds

President Biden called on Congress to pass legislation forcing landlords with over 50 units in their portfolio to cap rent increases on existing units at 5% or risk losing federal tax breaks (faster depreciation write-offs). This would affect over 20 million units in the U.S.

Rent control has proven unsuccessful in every jurisdiction where it has been tried. By forcing owners and managers to make difficult choices with limited revenue, rent control ultimately hurts the residents it is supposed to help

NAA and NMHC responded with a joint press release and NAA has issued a call to action to its members including you! Please act today by contacting your Representatives and Senators and asking them to oppose the Biden Administration's rent control plan and to make a public statement of opposition.