Rent control and rent stabilization also keep rents low, although their effect on low-income housing is uncertain.
In exchange for tax benefits and favorable mortgages, the owners agreed to keep rents low for 20 years, after which they could leave the program.
We cannot count on the decency of landlords to keep rents at below-market levels; it won't happen.
FAR from grand, the complex was built by a corporation that agreed to limit profits to keep rents within the range of the working poor.
That will temper the pace of leasing and keep rents from rising.
"A lot of people are trying to keep rents down," he said.
Bottom-feeders are now heading there in droves, keeping rents at or near the levels of a year ago.
The program is combined with subsidies that keep rents at 30 percent of income.
"He believed in keeping rents low and competitive and getting the place leased up."
In exchange, they would limit profits to 6 percent and keep rents down.