The May/June edition of "Renters United" is here! It's Rockville Renters United's community newsletter by Rockville renters for our community. It covers topics from how your neighbors are organizing their buildings to how we fight for stronger renter's rights.

In this issue: Foes of rent stabilization raise dishonest arguments, housing expert says; Realtor blames developer greed for County’s lack of affordable housing; Who Owns My Building?: BLVD Ansel, BLVD Forty-Four and The Reed; NO Rent Stabilization = MORE Evictions; ?? Did you know ??

Foes of rent stabilization raise dishonest arguments, housing expert says

>Opponents of rent stabilization are making dishonest arguments, according to an expert on housing law and policy.

>In a recent paper in the Washington University Law Review, Prof. Brandon Weiss charges foes of rent stabilization:

>Falsely claim rent stabilization is identical to crude rent control laws enacted in U.S. cities in the mid-1900s. Base their arguments on abstract economic theory rather than real-world experience.

>Weiss says modern-day rent stabilization laws are not “silver bullets” or a “one-size-fits-all” solution to shortages of affordable housing. However, they have proved effective at keeping more people securely housed for longer periods of time when combined with other land-use reforms aimed at increasing access to affordable housing. Such reforms include streamlined construction permitting for developers, tax credits and other financial supports for buyers and renters, changes to restrictive zoning laws and other polices to encourage new development.

>But without rent stabilization, none of those reforms protect tenants from losing their homes, Weiss argues

Realtor blames developer greed for County’s lack of affordable housing

>Developers are building homes for the wealthy and leaving other county residents without affordable shelter, a local realtor complains.

>“It’s stupid to build communities that only the top 20% can access while ignoring the other 80%,” says Fernando Herboso, managing broker for Samson Properties in Gaithersburg. “We’re making a catastrophic mistake.” Herboso oversees 400 agents and has 25 years’ experience in Montgomery County real estate.

>“Every week I watch another ‘luxury community’ break ground,” he continues. “We build $600,000 townhomes…(then) scratch our heads wondering why teachers, nurses, firefighters and young professionals are fleeing to Pennsylvania and West Virginia.”

Who owns my building?: BLVD Ansel, BLVD Forty-Four, and The Reed

>Comstock Holding Companies (CHC) is a powerhouse in the DC Metro region: fast-growing, and with far deeper pockets than may first appear.

>It’s $65 million in total assets barely cast a shadow in the high-rolling world of real estate. But CHC wasn’t created to own real property. It was created to manage property owned by its
principal investors. In return for providing a full suite of services—parking, maintenance, building and financial management— CHC collects rent and fees from the residential
and commercial tenants. That’s how it makes money.

> The vast majority of assets belong to Comstock Partners, a $5.6 billion private equity company owned by Christopher Clemente, CHC’s CEO, and his father-in-law Dwight Schar. They buy and develop properties, then sign long-term, fee-for-service contracts (on very favorable terms) guaranteeing CHC — which is 59% owned by Clemente and Schar—steady flows of cash with minimal risk and no debt.

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You can read the full edition online for free at rockvillerenters.org/newsletter, and you can pick up a printed copy at these local small businesses:

King Farm: King Craft Beer and Wine, Coffee Republic, Italiamo Kitchen, Parcel Plus, King Farm Cleaners.

Town Center: Bonchon, Little Miner Taco, BobaPop, Hair Design Zone, Dirty Dough

Twinbrook: Bubble Tea Cafe, Downtown Brews

Woodley Gardens: Z&Z Manoushe Bakery

Surrounding Area: Clear Skies Meadery, Liora's Whole Pet