Doug Shimell

Hapco Philadelphia isn’t the only one warning that rent control destroys affordable housing.

Study after study shows that “rent stabilization,” as some city councilmembers are now calling it, does not increase the stock of affordable apartments.

Hapco Philadelphia has been warning for years that City Council’s laws, regulations, costs, and fees are forcing rental owners out of the affordable housing market.

It’s the same crisis rental property owners are facing in Seattle, as a mass exodus is underway in the wake of pandemic laws and an eviction moratorium.

Hapco Philadelphia says politicians need to start treating small, Mom & Pop rental owners as the small businesses they are before they’re all gone.

Philadelphia City Councilmember Mark Squilla introduced Bill #220299 on March 31^st  known as the Retrofit Automatic Sprinkler Legislation.

It requires automatic sprinklers to be retrofitted into existing high-rise buildings over 75-feet and Hapco Philadelphia is teaming up with the Pennsylvania Apartment Association to opposed its passage.

PAA is also working to get a financial impact study done in Philadelphia to analyze the impact this legislation will have on the rental industry and affordability across the City of Philadelphia.  PAA met with Councilman Squilla in advance of a hearing on the bill set for April 19th and he’s indicated he’s amenable to allowing PAA more time to conduct the economic impact study.

If this legislation is approved it would cost rental property owners hundreds of thousands of dollars, on top of relocation costs, and maintenance costs on a yearly basis.

Hapco Philadelphia is joining PAA in asking property rental owners to sign the attached opposition letter and email it to adelvalle@paahq.com .  They’ll be delivered to Councilman Squilla and members of the Committee on Licenses and Inspections.