New Requirements under Statewide Rent Control As you might be aware, certain residential income property is exempt under AB 1482. This includes properties which received a Certificate of Occupancy within the last 15 years. In addition, Single Family Residences, Townhomes and Condominiums are exempt unless title is held in a corporation or a real estate…
WASHINGTON, D.C. — An increasing number of jurisdictions recently have imposed rent control or are seriously considering doing so, leading many market participants to reconsider their investment decisions, according to the NMHC’s Quarterly Survey of Apartment Market Conditions, conducted in October 2019. Rent control legislation is continuing to expand with 58 percent of respondents saying that…
In addition to the substantial economic costs associated with rent control, [from Part I] the decision whether to regulate rents raises difficult questions of social policy. Social Implications of Rent Control …
That rent control is an ineffective and often counterproductive housing policy is no longer open to serious question. The profound economic and social consequences of government intervention in the nation’s housing markets have been documented in study after study over the past twenty-five years. In response to this hard-earned experience, states and local jurisdictions from…
California lawmakers have passed a five-percent-plus-inflation rent cap bill. Gov. Gavin Newsom, who put together the deal to pass the bill, said he would sign it [signed Tuesday, October 8th]. The California rent cap will take effect January 1, 2020 for the next 10 years at which time an “effectiveness” report will be submitted.
The below article was written by Gabe Johansen of SMI Commercial Real Estate from the Rental Housing Journal. Over the last few months, you have undoubtedly read numerous articles about rent control.
Our united organizations have continued our fight against Assembly member David Chiu’s assault on the California housing supply through his AB 1482 statewide rent and property control legislation. Our lobbyists have worked to implement changes to the proposed law, with limited success. For example, the original version exempted some small properties that are owner-occupied and…
The temporary rent control measures in unincorporated Los Angeles will remain in place through the end of the year. The Los Angeles County Board of Supervisors voted 4 to 1 to extend—and expand the ordinance. The measure was originally set to expire in June, but will remain in effect until December 31st when a permanent…
Proposition 10 (Rent Control) to repeal the 1995 Costa Hawkins Act, a law that restricts rent control ordinances in cities in California was defeated in the November 2018 election. Municipalities can still enact moratoriums and rent control. The County of Los Angeles just instituted a rental cap until the end of 2019 which will probably…
Prop. 10’s defeat in the 2018 election has not dampened enthusiasm for a statewide rent control measure. Despite the resounding defeat of Prop. 10 in last November’s election—the initiative lost in all but one of the state’s 58 counties, with only San Franciscans giving it majority support—original sponsor Michael Weinstein and his Los Angeles-based AIDS…