Rent Control & The NTB

Just reading over the articles in the RG and I wanted to welcome the passing of the Rent Increases (Domestic Premises) Control Amendment Act 2009. Housing remains one of the biggest problems facing Bermuda, and while there is still quite a bit of work to do, expanding the ceiling for homes subject to rent control is certainly a welcome step.

I also see that the Labour Minister has been given greater powers regarding the National Training Board. To me the amendment in question just makes sense and I don’t have a problem with it at all.

I will be reading over the legislation as soon as I can (I am not sure if it is available on Bermuda Laws Online site yet), and will comment on them in greater detail at that time. If anyone has any initial thougts on them I would welcome hearing them.

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5 thoughts on “Rent Control & The NTB

  1. Seems like a good idea to raise the ceiling. People still find it hard to get affordable housing, it seems, and I can only imagine how much tougher it is for those who’ve been laid off this year or forced to take pay cuts.

    You would think that rents at the lower scale would’ve dropped a tad, but I guess Marc Bean is correct in that demand isn’t dropping at the lower-rent side.

  2. No disrespect to the Minister but the government needs to lead the way by dropping BHC rents.
    Handouts to John swan is $25million what about the people.
    Dissovle parliment replace it with full British governance House of the common man.
    Too much illumanati elite corruption.

  3. ALL BHC RENTS SHOULD B GEARED TO INCOME RATES NOW!!!

    YES TIME TO GO TO THE GOVENOR>>>WE THE PEOPLE HAVE ALSWAYS HAD THE POWER TO REFORM THIS COUNTRY

    WE DONT NEED THESE POLITICIANS WHO RULE FOR A FEW

    TIME FOR A NO CONFIDENCE VOTE FROM THE PEOPLE

    Dissovle parliment replace it with full British governance House of the common man.
    Too much illumanati elite corruption.

    ALL POWER TO THE PEOPLE BY ALL MEANS NESSICARY

  4. I hope we all understand that rent control ultimately leads to a decrease in the supply of rental units. It’s basic economics. Anytime you impose a ceiling on a market price, below the market clearing price as rent controls do, you diminish the supply of the good.

    Rent control is one of those policies that is great on the front end as it feels good to be lowering prices for working folk and gets great press and makes great politics, but no one accounts for the true effects of the policy after it is implemented.

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