Published by FOX Business | January 25, 2023
The Biden Administration recently announced new actions to ‘protect renters and promote rental affordability’
The White House announced it is taking strategic steps to protect renters, including setting up limits on egregious rate hikes. Critics, however, have called out the Biden administration’s one-size-fits-all program that makes changes for renters at the expense of landlords.
“We’ve seen it for so many years, and it’s very frustrating,” American Apartment Owners Association director Alexandra Alvarado said during Grady Trimble’s report on “The Big Money Show” Wednesday.
“[Mom-and-pop landlords] are not being treated differently, even though it affects them much more than it would affect any large company with thousands of units. They have room for it. Landlords that have a few units don’t.”
In addition to limits on “egregious” rate hikes, the White House addressed several actions it plans to take in its commitment to renters. The actions include collecting information on how tenants are screened, updating guidelines on anti-competitive information sharing among landlords and providing legal help to tenants who are evicted.
Rent is one of several products and services to skyrocket in price following the COVID-19 pandemic and amid rampant inflation.
The Biden administration has taken steps to protect renters during the height of the pandemic, supporting an eviction moratorium and bragging that it has prevented millions of evictions.
The Biden White House’s plan seeks to “increase fairness in the rental market and further principles of fair housing.”
