Legislative Alert: Rent Control defeated!

HB-1140 has been defeated in committee.

From the aamdhq.org newsletter. 

All of the witnesses in opposition to HB-1140 proved the case that rent control is a broken tool that does not create affordable housing.  Testimony showed rent control compromises basic economic principles, deteriorates the quality and quantity of rental housing, prevents new development, and increases costs to consumer tenants.  The widespread and well-documented harmful effects of rent control make it a state-wide matter to ensure that rent control is not used in Colorado. 

In addition to testimony, the National Apartment Association (NAA) and the National Multi Housing Council (NMHC) submitted written comments strongly opposing HB-1140.  A broad coalition of state business associations also opposed HB-1140.

The apartment industry would have faced significant challenges in local markets across Colorado if HB-1140 became law.  Rest assured CAA and the vast network of national, state, and local resources will continue to serve and protect your legislative interests on issues affecting the industry.