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this post was submitted on 09 Jan 2024
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Showerthoughts
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It depends on local regulations. There's no federal law that limits the rent increase, if given notice. Like I'm pretty sure NYC has some kind of rent control, but at least here in Oklahoma it's not common.
Edit: I found this, and I now feel worse
That's insane! The law of the land is that you can't ban things that limit profit for those with capital. It reminds me of a law that prevents gun bans in Atlanta, GA.
We have law in the entire USA making gun bans illegal, actually.
So you’re telling me rent in OK is off the charts? Or could there be some mechanism other than government limiting how high rents can go?
There's another mechanism, it's just competition. They can't go too high or else they'll price themselves out. Minimum wage here is still $7.25/hr