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Rent control is on the Minneapolis and St. Paul ballots. Here's what the proposals will do
The two ballot questions come in response to a nation-leading housing shortage. But while supporters say the proposals will safeguard renters from price spikes, critics argue they will only worsen the existing housing crunch.
ST. PAUL, Minn. (FOX 9) - Voters in St. Paul approved a ballot question Tuesday to enact one of the strictest rent control measures in the nation.
The ballot question asked voters whether landlords should be prohibited from raising rents by more than 3% in a 12-month period, regardless of whether there is a change in occupancy. However, landlords could apply for an exemption. It was the only question on the ballot for St. Paul residents this year.
The ballot question comes in response to a nation-leading housing shortage in the Twin Cities, which has led to skyrocketing home prices and steep rent hikes. Voters in Minneapolis were asked a similar question about rent stabilization, although that proposal does not cap rent increases at a certain percentage like the St. Paul one.
Election FAQs: How to register to vote, find your polling place etc.
City Question 1: Whether to adopt a residential rent stabilization ordinance
Should the City adopt the proposed Ordinance limiting rent increases? The Ordinance limits residential rent increases to no more than 3% in a 12-month period, regardless of whether there is a change of occupancy. The Ordinance also directs the City to create a process for landlords to request an exception to the 3% limit based on the right to a reasonable return on investment. A "yes" vote is a vote in favor of limiting rent increases. A "no" vote is a vote against limiting rent increases.