As grassroots organizations who serve the public, we write this letter to affirm our support for Rent Stabilization in the city of Providence.
Providence has seen massive rental increases over the last few years. This year alone we posted a rent hike of 7.5%- the highest in the entire country! It’s created a situation where a huge portion of Providence residents cannot afford to continue living in the city, especially without roommates. To avoid being cost-burdened (paying over 30% of your income towards rent), tenants have to earn an annual salary of at least $80,000 in a city where the average renter is making closer to $40,000 a year! It is unsustainable. As it stands now according to HousingWorksRI’s 2023 Factbook, 46% of all Providence residents are considered cost burdened and homelessness has increased by 72% percent since 2019 across Rhode Island.
We believe it is time for a comprehensive Rent Stabilization ordinance for the City of Providence:
Annual Rental Increase Limit: Limiting rental increases to once per year at no more than a 4 percent increase is a crucial step to ensure tenants are not subjected to exorbitant and unpredictable rent hikes. This provision promotes stability for tenants, allowing them to plan their housing expenses.
Renewable, Year-Long Lease Guarantee: The guarantee of a renewable, year-long lease provides tenants with the security and stability needed to build and maintain their lives in our community. This provision recognizes the importance of stable housing for the overall well-being of individuals and families.
Creation of a Rent Board: Establishing a Rent Board to resolve disputes outside of the court system is pivotal. This board will serve as a fair and efficient mechanism for addressing rent conflicts between landlords and tenants, promoting a balanced resolution process.
Resources for No-Fault Evictions: Moving costs are an expense many cost-burdened families have trouble paying for. The creation of resources to assist tenants in the case of no-fault evictions will alleviate these costs; doing so demonstrates a commitment to supporting vulnerable individuals and families during challenging times.
We believe Rent Stabilization will help bring about a more equitable rental housing market and improve the well-being of our communities. No one can survive or thrive without the basic need of stable, affordable housing. A city that refuses to acknowledge this will eventually push most of their residents into poverty-stricken conditions or out of the city completely. We demand the Providence City Council address the housing crisis with the vigor it deserves–and pass Rent Stabilization.
