"When rent control occurs on an apartment building, Miller said landlords are more likely to not make repairs for longtime tenants, which means the units deteriorate faster than they would otherwise. They also might discriminate when it comes to selecting tenants, opting for those more likely to move out faster.
" Consequently, property values will decline, in the short run around 10 percent and in the long run around 30 percent. They are also likely to charge higher rents on new tenants to make up for not being able to increase rents on existing tenants."
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