Bomb damage or rent control? That was the caption under this picture in a 1981 book about rent control across the world. Looking at the photo, it’s impossible to tell the difference. Almost 40 years later, the story hasn’t changed: outside of wars and natural disasters, rent control is the single most effective destroyer of property and property…
The City of Santa Ana has adopted a Rent Stabilization Ordinance effective November 19, 2021. The City’s Rent Stabilization Ordinance (RSO) is a local law that limits rent increases to the lower of 3% per year, or 80% of the percent change in the Consumer Price Index over the most recent 12-month period for certain residential…
The California legislature recently: 1) enacted its first ever statewide rent increase cap; and 2) now requires landlords to provide “just cause” for evictions. AB 1482 – The “Tenant Protection Act of 2019” became effective January 1, 2020 and remains in effect until at least January 1, 2030. It impacts at least 8 million renters…
You know how we’re always having to explain San Francisco’s rent control to out-of-state visitors? Well, if New York’s Congressional Representative Alexandria Ocasio-Cortez (“AOC”) has her way, we won’t have to do that anymore, because every state in the nation will have rent control. The Congresswoman’s ambitious, anti-poverty bill, “A Just Society,” aims, in her…
One would think that if it’s the job of an Assemblyman to write a bill that impacts an entire state, then it would be done correctly the first time! Apparently, Mr. Chiu, the author of “Tenant Welfare” 1482, has created a lot of confusion throughout the state by writing one thing into law while meaning another in the case of CPI calculation.
In the last week, cities up and down California discussed emergency tenant protections, as a results of passing the poorly planned and poorly written AB 1482.
The Big Show You’ll want to mark your calendars for the FREE “Million Dollar Trade Show and Landlording Conference” next month where we’ll be giving away an iPad and 5-day cruises. The show will be held on Thursday, September 12th at the Los Angeles Convention Center in West Hall A, 1201 N. Figueroa!
Economist Thomas Sowell once quipped, “The first lesson of economics is scarcity” and “the first lesson of politics is to disregard the first lesson of economics.”
Here is an update on last month’s Concord City Council meeting regarding city recommendations: Just Cause Defeated!
ent Control and Vacancy Rates There can be no doubt that rent control creates housing shortages. For almost 20 years, national vacancy rates have been at or above seven percent – a figure generally considered normal. Cities such as Dallas, Houston and Phoenix, where development is welcomed, have often had vacancy rates above 15 percent. …