To restore Boston's governmentally-involved housing protection
The proposed legislative measures would grant the City of Boston more extensive authority to regulate rents in governmentally-involved and formerly governmentally-involved housing. In times when the identified housing crisis persists, the city will be empowered to enact ordinances that regulate the maximum allowable rent for affected units, based on historical rent levels and adjusted to ensure owners can achieve a fair net operating income. Through this approach, the bill seeks to create a sustainable balance between the need for affordable housing and the rights of property owners.
Bill S891, titled 'An Act to restore Boston's governmentally-involved housing protection', aims to address the ongoing housing crisis in Boston by implementing regulations intended to protect affordable housing units from conversion to market-rate housing. The legislation originates from significant concerns that approximately 30,000 privately-owned, subsidized apartments in the city could transition to market rates, thereby threatening the livelihoods of low-income families, seniors, and disabled individuals. The bill is particularly focused on preserving the existing affordable housing stock and ensuring that tenants have the necessary protections against displacement.
Despite the intent behind Bill S891, there are points of contention that may arise from various stakeholders. Some legislators and advocacy groups may oppose the increase in government involvement in housing markets, viewing it as an overreach that could discourage investment in real estate. Additionally, there are concerns regarding the enforcement of rent regulations and the potential bureaucratic processes that property owners may face when attempting to navigate new compliance requirements. Furthermore, stakeholders disagree on the definitions and classifications of what constitutes 'governmentally-involved housing,' which may yield challenges in uniform application of the law.