Rent Control In Philadelphia?

[Alex Uman]

What are local investors' thoughts on the adoption of rent control regulations in Philadelphia? I know many rental investors who have moved to the city or choose to invest here from out of state due to such regulation in other cities such as New York. Several City Council members are adamant supporters of such measures. Additionally, Mayor Kenney in the past had expressed that he is open to the idea of expanding tenant protections in the city.

How would you shift your investment strategy in the city if official rent control policies were to be implemented? Do you think such tenant friendly policies would inevitably steer investors away from our city? If you are an out of state investor, would you seek to shift your investments elsewhere?