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Landlords warn rent-stabilization and building-energy rules could chill investment and raise operating costs
Summary
Industry groups told lawmakers that recent county rent-stabilization ordinances and proposed building energy performance standards (BEPS) are altering investment incentives, reducing multifamily transactions in counties with vacancy control and could increase costs for many older rental properties.
Representatives of the Maryland Multi-Housing Association and the Apartment and Office Building Association (AOBA) told the committee that regulatory changes—particularly Montgomery and Prince George's counties' rent‑stabilization laws with vacancy control—and proposed building-energy performance standards (BEPS) may be reducing multifamily investment and could raise operating costs for older buildings.
"Vacancy control is indeed a very real thing," an AOBA speaker said, explaining that vacancy control caps rents even between tenancies and, industry witnesses argued, reduces the ability to reset rents to market as units turn over.
Industry presenters summarized market data from CoStar: statewide inventory of about…
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