Urgent action needed now! Answer Illinois REALTORS®’ Call for Action on House Bill 116, legislation being considered by the Illinois House of Representatives that would repeal the Rent Control Preemption Act and allow municipalities and counties to enact Rent Control throughout the state. The legislation could be called for a vote this week.
We need Illinois REALTORS® to urge their state representatives to vote NO on Rent Control. Act NOW!
House Bill 116 creates the path for direct government control of housing across Illinois. By repealing the preemption, government would set price controls on rental housing, harming tenants, homeowners and causing significant damage to Illinois’ housing market. The state already has a housing inventory shortage and opening the door to Rent Control would only make the situation worse. Illinois REALTORS® is working hard to establish policy that will provide a substantial housing supply and Rent Control is not the answer!
Rent Control Will:
- Decrease the supply of affordable housing, now and in the future
- Increase segregation
- Increase rents for non-controlled rental units
- Deflate property values
- Increase property taxes on homeowners, including condo owners
Rent control has been widely discredited by economists and housing advocates. Rent Control is destructive and counterproductive and will cause irreparable damage to Illinois’ economy and make housing supply problems even more difficult to solve.
