A contentious decision to freeze rentals in Markham, Illinois, has sparked a divide among residents and city officials, who believe the housing market needs improvement.
Prospective renters won’t be able to lease a home as the council has voted to extend a rental moratorium for at least another year.
City officials stated that this action aims to reduce high turnover rates in neighborhoods. However, investors argue that it may lead to larger issues.
On Wednesday night, with unanimous approval, the Markham City Council decided to prohibit all new renters from moving into single-family homes.
“We believe that property would not be as transient and would not have the turnover, it would be consistent and stable,” Mayor Roger Agpawa said.
City records indicated that 19% of homes in Markham are occupied by renters. Agpawa mentioned they need to lower that figure to 10% for the city’s future stability-emphasizing that there is just too much turnover with renters in homes.
“We’ve got a lot of long-term renters here. Well, stay here, and this will never affect you,” he stated.
Current renters can renew their leases; however, no landlord will be allowed to offer new leases on single-family homes.
The city leaders are eager to see more “For Sale” signs posted outside homes, but investors claim that Markham isn’t currently an attractive place for buying properties.
“We want investors to rehabilitate those properties and return them to the tax rolls. It’s hard to sell properties when there are boarded-up houses along the block,” one speaker expressed.
Landlords voiced concerns about how this freeze might negatively impact them, but it’s not solely about property owners.
“But it’s also preventing people from accessing this housing, and it’s very concerning,” said Nora Gruenberg, director of government affairs with the Illinois Realtors.
“Many people can’t get a mortgage, but they’re still able to pay rent; so this is blocking people from finding housing they can afford in communities they wish to live in,” she added.
Mayor Agpawa remarked that what’s unfolding in Markham isn’t something unique. Only time will reveal whether the rental freeze will attract more homeowners, push renters away or lead to an increase in vacant homes.
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