Arizona Democrats have long wanted to place restrictions on corporations and landlords as part of their housing affordability plans.
Now Republicans favor some parallel efforts.
President Donald Trump recently called on Congress to ban companies from buying up the American housing supply. Arizona Democrats were quick to point out that his comments seem to be in line with bills they’ve proposed multiple times over the years.
On Wednesday, lawmakers again called for restricting the amount of properties a company can purchase to 50 per year and restricting sudden, steep rent increases by landlords.
“Let's stop letting these corporations and these landlords, you know, push our neighbors out. Where's the humanity? Where's the respect for human dignity?” Rep. Quantá Crews (D-Phoenix) said.
Crews said she and her children were forced to move out of their townhome a few years ago because their rent increased each year until she was paying more than two-and-a-half times the original rent.
Crews wants to establish minimum notice standards for rent increases.
“Arizona families who want to buy a home have seen fewer and fewer options. We've lost a significant share of condos and townhomes, some of the most attainable paths to home ownership, leaving too many families with no option but to keep renting,” Rep. Sarah Liguori (D-Phoenix) said.
Rep. Betty Villegas (D-Tucson) has previously introduced rent stabilization bills, but is trying again this year with some tweaks. Her latest plan would cap rent increases at 7% annually including inflation.
And House Minority Leader Oscar De Los Santos (D-Laveen) is reintroducing a version of legislation he tried last year which would ban corporations from buying homes until they’ve been on the market for at least 90 days.
He also plans to sponsor the bill capping the number of homes companies can buy annually at 50 properties, and wants to require any entity owning 10 or more homes to register with the state.
“Their record will be made available online so everyone in this state and country can see who is buying up their neighborhoods,” he said.
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