Renting out your apartment can be a cost-effective way to earn a few extra dollars. So, if you have an extra room, feel free to find someone to live there. However, as you become a landlord, there is one thing you will need to learn to live – rent control and the gross rent mulitiplier.
What is rent control?
Rent control is more or less like price control. Typically, the government (federal or state) will impose a special law that limits how much you can raise rents on “existing” landlords. The program is common in densely populated cities where it may be difficult for these tenants to find affordable housing. It could also be necessitated by a calamity or a terrorist attack in the city that destroys a large number of housing units. Read more