Word: controled
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Dates: during 1970-1979
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Richard Fraiman, the director of Cambridge Property Owners and Taxpayers, called the abolition of rent control "the first step in getting Cambridge's financial house in order...
Citing figures that show Cambridge landlords pay the highest percentage of rental income in taxes, Fraiman said that ending rent control would benefit "all the city's taxpayers...
Cambridge adopted rent control in 1970 to counter what councilor Alfred E. Vellucci called "skyrocketing rents." Fraiman told councilors at a special city council meeting Tuesday night that the emergency that led to adoption of rent control has ended. "If you don't hear our cry, you do so at your own peril," he told the councilors, who must seek re-election this fall...
Under Cambridge's rent control law, landlords seeking rent increases must have them approved by the city's rent control board, which usually relies on a formula based on upward adjustments of 1967 rents...
Landlords should be making at least a 10 to 12 per cent return on investments," Charles Laverty, city assessor, said last week. "Under rent control, the return has been less than six per cent, less than what you would get by putting your money in the bank," he added...