MIBOR responds to Carmel City Council vote on rental registry & cap ordinance

Submitted

Editor’s note: The following statement was submitted to the Hamilton County Reporter by MIBOR, and it is republished here in full.

MIBOR REALTOR® Association is deeply disappointed by the Carmel City Council’s decision to approve a rental registry and cap ordinance, seeing it as a serious misstep with far-reaching consequences for the community.

Following the flawed example recently set by the City of Fishers, MIBOR is troubled by Carmel’s decision and stands in firm opposition to its implications. This action was taken without adequate consideration, sufficient data, or analysis to understand its long-term impact and represents a troubling step backward for housing policy in central Indiana.

As the definitive source for local housing market data and a long-standing defender of private property rights, MIBOR has consistently provided factual, evidence-based insight on the impacts of such policies. Decades of research clearly show that increasing housing inventory – not restricting rental opportunities – is the most effective way to address issues of housing access and attainability.

We are especially concerned that the Council chose to disregard comprehensive data and policy recommendations we presented, including clear evidence of the unintended consequences this ordinance could have on housing affordability, neighborhood stability, and community access.

In addition to the economic and social impacts, the Council has failed to fully evaluate the administrative burden this ordinance places on city staff – creating new layers of regulation and enforcement without a realistic implementation plan.

Despite this setback, MIBOR remains committed to working with the council to find balanced, data-driven solutions that expand opportunity, protect property rights, and build an inclusive, thriving housing market.