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Letters | Rent control is not the answer to Hong Kong’s unaffordable housing
- Readers discuss the possible effects of rent control laws, the United States’ crumbling credibility and the lack of new ideas in Hong Kong’s pandemic strategy
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Last month, an advocacy group called for the rent control law to be tightened. Yet, the rent control law is no panacea for the issue of unaffordable rent when these are tenants who can barely make both ends meet.
Rent control reduces the incentive for landlords to provide residential premises. They could convert their property to venues for more lucrative businesses such as hostels or mini-storage to maximise returns.
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A more limited supply of subdivided flats could result in a surge of rent. Those who are economically disadvantaged could become homeless, which is the last thing we want.
Moreover, rent control could discourage the landlords to make sufficient efforts in maintaining the integrity of their flats, such as repairing leaking pipes, sanitary fittings and the ventilation system. Landlords might become indifferent, which would worsen the living environment and cause severe hygienic and environmental nuisance in the community.
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These factors should be weighed, especially as the city is still fighting against Covid-19. Rent control might do more harm than good when considering the overall social situation.
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