State signature-gathering to place the Justice for Renters Act (Measure 22-0008 will eventually
be assigned a proposition number) on the November 5, 2024, ballot began on March 17, 2023.
Backers have announced that they’ve already collected and delivered enough signatures to the California Secretary of State’s Office to qualify the measure, and they will continue submitting names until August 28th.
Third Attack!
The proposition is sponsored by the same anti-housing coalition that sponsored the two previous measures we defeated, Prop 10 in 2018 and Prop 21 in 2020. Now we must defeat this third attack bankrolled by Michael Weinstein, the anti-housing activist, and his friends.
The measure would expand local governments’ authority to enact rent control on residential property.
Current state law (the Costa-Hawkins Rental Housing Act of 1995) generally prevents cities and
counties from limiting the initial rental rate that rental property owners may charge to new tenants in all types of housing, and from limiting rent increases for existing tenants in (1) residential properties that were first occupied after February 1, 1995; (2) single-family homes; and (3) condos.
This measure would repeal that state law and prohibit the state from limiting the right of cities and counties to maintain, enact, or expand residential rent control ordinances. According to the state’s Legislative Analyst, its enactment would also reduce state and local revenues.
Please Donate! WE MUST WIN!
Please donate whatever you can afford to defeat the so-called ”Justice for Renters” Act at:
www.efundraisingconnections.com/c/CalRHAIssues where you’ll find instructions for payment by credit or debit card. You can also submit a check to Californians for Affordable Housing PAC. Be sure to write “SPOSFI” in the memo space on your check. We suggest a minimum of $100 per each unit you own.
Asking Rents in San Francisco Drop, Down Year-Over-Year
According to the real estate website, SocketSite (socketsite.com), the weighted average ask-
ing rent for an apartment in San Francisco has dropped below $3,500 a month—3% lower than
at the same time last year, 15% lower than before the pandemic, and over 22% below its 2015-era peak of nearly $4,500 a month. The average asking rent for a one-bedroom apartment in San Francisco has dropped back down to around $2,900 per month—2% lower than at the same time last year, 16% lower than prior to the pandemic, and 20% below the peak.
Socketsite goes on to say: “At the same time, the number of apartments listed for rent in San Francisco is still 10% higher than at this time last year and 20% higher than prior to the
pandemic, with local employment trending down, facts that aren’t ‘bearish’ or ‘pessimistic’ in nature but are key to understanding and acting on the actual market trends.”
Reprinted with permission of the Small Property Owners of San Francisco Institute (SPOSFI) News. For more information on becoming a member of SPOSFI or to send a tax-deductible donation, please visit their website at www.smallprop.org or call (415) 647-2419.