City Council rejects rent control legislation

BY JESSICA DYER

JOURNAL STAFF WRITER

Rent control proponents visited City Hall in big numbers Monday night.

So did rent control critics. Together they spent two hours arguing their respective positions before a governmental body — the Albuquerque City Council — that has no authority to implement rent control and was merely considering whether to ask for that authority.

The council ultimately decided not to pursue such power, defeating Councilor Tammy Fiebelkorn’s legislation that urged the New Mexico State Legislature to repeal an existing state law that prohibits local governments from enacting rent control policies. He r bi ll came in the form of a “memorial,” meaning it expresses an opinion but is not legally binding. It nonetheless failed on a 2-7 vote, prompting some in the packed meeting audience to cheer but others to boo and launch into chants of “people, not profit!”

Average monthly rent for a one-bedroom apartment in

Albuquerque has risen by 42% since March 2020, according to data provided to the Journal by the online listing service, Rent. com. Those rapid cost increases have led to persistent calls for rent control and spurred Fiebelkorn’s legislation.

Fiebelkorn said Monday the goal was not necessarily “old school” rent control with “extreme” caps, but that a state law change would have given city leaders the leeway to discuss other related measures. She posited the idea of “rent stabilization” for just the community’s most disadvantaged residents, with the city potentially footing some of the bill. She noted that city officials are pushing for new housing development — which should eventually ease the burden — but that will not make a difference today.

“In the short term, we need a whole lot more than plans to build more housing; we need actual work to help these folks remain housed, because once someone goes unhoused, it is really, really difficult for them to come back, and I don’t think anyone here wants more people in our community experiencing homelessness,” she said.

But only Isaac Benton joined Fiebelkorn in support.

Dan Lewis was among those voting against the memorial, saying a council statement of support for ending the statewide rent control prohibition could scare off future investment and, in the end, make the housing situation worse. He called the idea well-intentioned but “misguided.”

“It hurts more than it’s going to help,” he said.