But affordable housing advocates say there doesn't have be a choice between renovation and affordable rent. A number of models exist to repair older properties and keep rents low — including nonprofit ownership and certain bond financing programs. They just need public subsidies and the political will to preserve them or get new ones off the ground.

Read More: https://www.msn.com/en-us/money/realestate/to-renovate-an-apartment-and-not-jack-up-the-rent-these-property-owners-have-found-a-way/ar-AA1rDr1d?ocid=msedgntp&pc=U531&cvid=a54ebbef84b9415ea4cd115833f5ccbf&ei=29