Update on the Statewide Rent Control
from Attorney Michael Millman
OPPOSE AB 1482 ; as amended; Sacramento super Power Players have been meeting at the Governor’s Office for many weeks and negotiating a compromise RENT CAP Bill. All amendments must be completed by Friday September 6 2019. Economic Round Table; Blackstone; Realtors; CAA ; Building Industry were at the Table in the Governor Office. Deal is done. This Team was very concerned about possible State Wide Campaign as ” Son ” of Proposition 10. AID Foundation was considered in the Deal. Weinstein does not have the Signatures and required Money. He has signed off on the Deal. Bill to be printed today. Realtors and others will have the Bill. There are many Housing Issues which address Back Stone problems? Experts believe that David Chiu will consider Exempting New Construction for 25 Years or more ? ADU’s must be exempt ?
So: The Bill sunsets in 10 Years. VACANCY DECONTROL will be safe for 10 Years.
Condo’s/Single Family Homes and Duplex’s wherein the owner lives on premise will be exempt.
The Annual Adjustment will 5 % and regional CPI ?
SF/Oakland/Berkeley/LA / West Hollywood and Santa Monica will be carved out and new law will not apply: There are Dozen more provision which you may examine later today.
Just Cause Evictions will be installed: Again, like Oregon Tenants Rights will not Vest for First Year. Then relocation Arrangements one month Rent and or Free Rent. Again, the Realtors will have the details of the Bill. This Bill may pass. CAA is Neutral :
Realtors Opposed. Vote will be next week.
Many should contact your Sacramento Friends to Vote No: The Apartment Industry should be set a Meeting with Federal HUD group in SF which investigates and publish the CPI each month. This Group will design and produce a Special CPI for Apartment Housing Expenses. This will cost $$$; but it will address our true Operating expenses: This is essential
Michael Millman 310 431 6574
What to do?
1. Call your Assembly Member at 800-798-6593
2. Call your Senator at 855-215-0152
Tell both offices: “Hi, this is (insert your name). I’m a Housing Provider from your district. Please ask the Senator/Assembly Member to Vote No on AB 1482. The bill discourages the creation of rental housing and doesn’t address the real problem – lack of supply.”
As a Housing Provider, I urge #caleg to vote NO on #AB1482. The solution to our state’s housing crisis is more supply, not restrictive rent caps. https://imgur.com/a/ihwAe4S
Now is the time to take action. To do nothing is the same as supporting the loss of property rights – don’t let this happen to you! Do what you can to preserve your rights!