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Rent Control: A Case Study of New York - Research Paper Example

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Summary
Rents are paid by the consumers for using real estate properties or houses to the owners for a temporary span of time. The regulation of rent helps to lower volatility in its monetary value in the market. Rent…
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Rent Control: A Case Study of New York
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Rent Control: A Case Study of New York

Download file to see previous pages... Rent controlling rules are imposed in agricultural, business and housing tenancies (Block, 2008). This research report focuses on rent control system of the United States of America (U.S.A.) and tries to analyse its impact on the economy.
Rent control regulations in the U.S.A. were imposed by the local public pressures and anti-profiteering committees during World War I. Later on, during the World War II, new regulations of rent control were introduced in the country. New York City is known to have the longest history of rent control regulations since 1943. The Rent Stabilization Law of 1969 was introduced in New York for ensuring adequate supply of rented houses (Block, 2008). Over time, the rent control system of the U.S.A. has become more complicated. A majority of elderly, protected renters and lawyers faces great trouble in understanding the existing, complicated system of rent control (Block, 2008).
The research work of the paper was based on inductive research approach, according to which relevant data and information were collected before the analysis and evaluation process. The data and information used in the research paper were gathered from authentic secondary sources, such as, national newspapers, scholarly articles, books, journals and government published websites. The entire research data was collected on longitudinal basis. This implies that analysis included both time and cost dimensions. The research work could be completed in less time at a lesser cost only with the use of secondary data resources. These articles and data sources provided useful information about advantages and disadvantages generated by the rent control system in context of New York City. An argumentative analysis on rationality of the regulation was also performed based on information collected from the valuable data sources (Block, 2008).
In New York, it is often found that the charges for certain rent ...Download file to see next pagesRead More
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