Let’s talk about rent control—it’s one of those buzzwords you’ve probably been hearing a lot about lately. If you’re renting in Kendall or anywhere in Miami, you already know how wild the market is.
Prices keep climbing, and finding something affordable feels like trying to snag a parking spot at Dadeland Mall during the holidays. So, would rent control fix things? And what would it mean for neighborhoods like Kendall?
What Exactly Is Rent Control?
Here’s the gist: rent control limits how much landlords can raise rent each year. The idea is to give renters some peace of mind by keeping price hikes predictable. Sounds great, right? But, like most things in real estate, it’s not that simple.
Supporters say it could be a lifesaver for renters struggling to stay in their homes. But landlords and developers? Not so much. They argue that rent control could discourage new construction and lead to fewer available rentals. For a place like Kendall, which thrives on a mix of suburban charm and city convenience, the stakes could be pretty high.
What’s Already in Place for Rent Hikes in Miami-Dade?
Now, rent control isn’t a thing in Florida, but Miami-Dade does have some rules to help renters. Since March 25, 2022, landlords need to give tenants at least 60 days’ notice if they’re planning to raise the rent by more than 5%.
This ordinance is a big deal, especially for renters in Kendall. Let’s face it—moving isn’t cheap or easy, and having a two-month heads-up can make a huge difference when trying to budget or figure out your next steps. But even with this rule, rents in Kendall and Miami are climbing so fast that many people still feel the pinch.
What If Rent Control Happened in Kendall?
Let’s imagine rent control becomes a reality in Kendall or even all of Miami. For renters, it could sound like a dream—finally, some stability in a market that feels anything but stable. But for landlords and developers, it might be a different story. Here’s what could happen:
Fewer Rental Options in Kendall: If landlords feel like rent caps hurt their bottom line, some might sell their properties or choose not to rent at all.
Tough Competition for Rent-Controlled Units: People who snag a rent-controlled property in Kendall would likely stay put for years, making it harder for others to find a place.
Higher Prices Elsewhere: Properties not under rent control could see steeper price hikes to compensate for limits on other rentals.
It’s a mixed bag, and the truth is, other cities with rent control, like San Francisco or New York, have struggled with similar challenges. Kendall could face those same issues.
As of September 2024, the median rent in Kendall, FL, stands at $2,800, reflecting a $600 increase from the previous year.
1-Bedroom Condos: The average monthly rent is approximately $2,245.
2-Bedroom Condos: These units typically rent for around $3,079 per month.
3-Bedroom Single-Family Homes: The average rent is about $3,300 per month.
Please note that these figures can vary based on factors such as location within Kendall, property condition, and available amenities. For the most accurate and current information, it's advisable to consult local real estate listings or work with a real estate professional familiar with the Kendall area.
What’s a Better Option for Kendall?
If rent control isn’t the perfect solution, what else could help renters in Kendall and Miami? Here are a few ideas that might actually work:
1.
More Affordable Housing in Kendall: Developers could be incentivized to build homes that are budget-friendly, especially in areas where demand is high.
2.
Financial Help for Renters: Rent subsidies or other programs could give tenants a break without discouraging property owners.
3.
Zoning Changes: Allowing more multi-family developments in Kendall could increase supply and ease some of the pressure on prices.
These ideas could help keep Kendall a vibrant and accessible place for renters while avoiding some of the pitfalls of rent control.
What’s Next for Kendall and Miami?
Kendall is one of those places where people want to stay—it’s got great schools, family-friendly neighborhoods, and easy access to everything Miami has to offer. But keeping it affordable is going to take some creative solutions.
Whether rent control becomes part of the equation or not, the focus needs to be on protecting renters without scaring off the investors and developers who keep the market alive.
Feeling stuck in Kendall’s rental market? You’re not alone, but you don’t have to navigate it by yourself. Whether you’re renting, buying, or just exploring your options, I’m here to help. Let’s talk about what’s available in Kendall or surrounding areas and figure out the best move for you. Reach out today—I’d love to hear from you!
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