English, Article, Journal or magazine article edition: TENANCY RENT CONTROL AND CREDIBLE COMMITMENT IN MAINTENANCE Richard Arnott; Elizaveta Shevyakhova

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Bookmark: http://trove.nla.gov.au/version/40320
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Tenancy Rent Control and Credible Commitment in Maintenance
Author
  • Richard Arnott
  • Elizaveta Shevyakhova
Physical Description
  • preprint
Notes
  • Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. This paper investigates the effects of tenancy rent control on housing quality and maintenance. Since the discounted revenue received over a fixed-duration tenancy depends only on the starting rent, intuitively the landlord has an incentive to spruce up the unit between tenancies in order to “show†it well, but little incentive to maintain the unit well during the tenancy. The paper formalizes this intuition, and presents numerical examples illustrating the efficiency loss from this effect.
  • RePEc:ucr:wpaper:200812
  • Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. This paper investigates the effects of tenancy rent control on housing quality, maintenance, and rehabilitation. Since the discounted revenue received over a fixed-duration tenancy depends only on the starting rent, intuitively the landlord has an incentive to spruce up the unit between tenancies in order to 'show' it well, but little incentive to maintain the unit well during the tenancy. The paper formalizes this intuition, and presents numerical examples illustrating the efficiency loss from this effect.
  • tenancy rent control, rent control, maintenance, housing quality, rehabilitation, credible commitment
  • RePEc:boc:bocoec:661
Language
  • English
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