Orlando rent myths #1: Rent stabilization will slow growth

Last week, Orange County leaders took a step towards protecting families during this ongoing rent crisis, by considering a referendum that would limit how much real estate and property management companies could increase the rent. Right now, Orlando real estate and property management are exploiting families by increasing their rent by hundreds of dollars at a time.

As they deploy countermeasures to preserve their bottom line, those companies have begun to roll out their messaging on why not hiking up the rent hundreds of dollars on families would be bad.

Their first claim? It could slow growth. Their only proof? Statistics from St. Paul, Minnesota.

Now, Minnesota is a fine area. But it’s very cold. It also has a state income tax.

Florida on the other hand, has a tropical climate, and has no state income tax. Precisely two of the factors which have lead to our rapid growth.

Then there is their math and economics which makes no sense.

If Florida is already booming with existing prices and pent up demand, how will keeping those prices the same hurt developers, who have already made a fortune here?

The truth is that it won’t. If developers tell you they’ll stop building, they won’t. There is too much money for them.

Behind all of this reasoning from the Orlando real estate industry is the true motive. Greed.

They want it to be “one way”. They want the money to go their way. This is their rationalization with this talking point and others. Big real estate in this town has been a very poor neighbor. And that’s being magnified at this very moment.

They don’t care about Orlando families.

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