What’s a Landlord to Do?

Changes may be on the horizon to many state-sponsored rent-control measures, which if they become law, will certainly have an impact on business owners who are landlords with rental property holdings in those states. According to the Wall Street Journal, Oregon passed a law in February that capped rent increases to 7% plus the local inflation rate. Democrats in the Colorado legislature introduced a bill this April  to repeal a longstanding ban on rent control, which would allow local governments to set their own rent limits. New York lawmakers are also weighing a cap on rent increases. Changes such as these, especially for business owners that have been experiencing an upmarket for several years, may find these new proposed  measures are something that keep them up at night, uncertain how it may affect their business in both the short and long term.  Utilizing an enterprise risk management solution,  such as Legislative and Regulatory Changes coverage, may offer relief if a business owner encounters such a business uncertainty. For inquiries about our policy and coverages that can augments gaps in your current P&C polices, please contact Oxford at Contact@OxfordRMG.com.