IC officials vote to limit rental homes around University of Iowa campus
Iowa City officials voted Tuesday night to limit the number of rental permits on single family homes or duplexes.
The ordinance affects neighborhoods around the University of Iowa campus. Now a neighborhood can have no more than 30 percent of its houses as rental properties. The new rule doesn't apply to apartments. Officials said the limit balances out long term homeowners and college students in neighborhoods. Some are worried that students won't have enough rental options, but the city manager said projects like "The Rise" will make up for lost inventory.
"We don't feel like we're constraining supply at all. As a matter of fact, we're opening up quite a bit more supply in other parts of the area of the city and around campus," said Geoff Fruin, the city manager of Iowa City.
The limit does not affect current permit holders. They are being grandfathered into the new rule.