By PadMint Pro

California Statewide Rent Control On The Horizon?

Things are continuing to heat up in the Rent Control battle here in Los Angeles and also statewide. The new bill (Assembly Bill 1482) proposes a 7% limit to rental increases.  Multifamily developments within the last 10 years as well as Single Family property owners with less than 10 properties would still be exempt from this limit on rental increases.

The bill as amended requires owners to provide "just-cause" in writing for tenant evictions if the tenant has occupied the unit for more than 12 months. A no fault just-cause eviction, such as a unit being remodeled or an owner moving into that unit, would require relocation assitance by the property owner.

Instead of being called Prop 10 (which failed by vote 60/40 last year) , this time around it is being called the "Rental Affordability Act."  This new Rental Affordability Act would extend rights to cities and counties to enact vacancy control.  What does this mean?  Property owners might NOT be allowed to raise rents to market, even if a tenant leaves on their own terms! The owners would only be allowed to increase rents no more than 15% total over the subsequent 3 years.

They are trying to gather signatures to qualify this measure for the November 2020 ballot.