rent control

(redirected from Rent Restrictions)
Also found in: Dictionary, Legal, Financial.
Related to Rent Restrictions: rent control

rent control,

in economics and law, government regulation of rent to prevent unreasonable or excessive increases. In the United States, the federal government imposed rent control (and other price controls) during World War II, and continued it in several cities after the war because of housing shortages. It was later turned over to the control of individual states and municipalities and has since ended in most locations.
Mentioned in ?
References in periodicals archive ?
42 has rent restrictions that establish the amount of rent that can be charged, based on the set-aside elected for the project.
After the assessment was upheld for both years, the Owner filed suit claiming that the assessments violated state law by failing to consider the low-income rent restrictions on the complex.
Also addressed is the valuation of stabilized LIHTC properties for property tax purposes when the owner essentially loses the reversion proceeds due to the state's right to select a nonprofit purchaser after rent restrictions end.
This provided an excellent opportunity for continued operation as an apartment building without rent restrictions, or alternatively, a conversion to a cooperative, a condominium or embassy housing.
An apartment building's real estate tax assessment should have taken into account rent restrictions pursuant to a federal program that encouraged the building of housing for low-income families, according to the Court of Appeals of North Carolina.
The Board of Tax Appeals (BTA) should have taken rent restrictions into account in valuing low income housing projects, according to the Court of Appeals of Washington.
This provides an excellent opportunity for continued operation as an apartment building without rent restrictions, or alternately, conversion to a cooperative, a condominium or embassy housing.
Tax credits are issued over a ten-year period, but project rent restrictions must have a 15-year minimum duration.
For others it is only a dim memory of their childhood of a city without rent restrictions.