Post by High Priestess on Mar 4, 2017 2:16:51 GMT
Property owners take note: the California Assembly has introduced a bill, AB-1506, that would repeal the Costa-Hawkins law, which limits rent control in the state of California. Costa-Hawkins prohibits rent control being applied to buildings built after 1995, as well as single family homes. Costa-Hawkins also includes what is called vacancy decontrol, allowing property owners to raise rents to market level when a unit is vacated. AB-1506 would remove those restrictions and thus potentially allow rent control laws to apply to ALL buildings in the cities which have rent control laws. AB-1506 would also remove the vacancy decontrol law, meaning that when any unit subject to rent control is vacated, the property owner would NOT be able to raise the rent to market level, but would be limited to standard rent control increases only --increases which are generally absurdly low in comparison to cost of living increases -- in Berkeley and San Francisco, for instance, rent control laws limit rent increases to about 1% a year.
See the bill here: leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201720180AB1506
This is a very misguided measure -- as I've written many times, in comments about the housing issues that arise with AIrbnb rentals, I believe that rent control is absolutely not the way to go for the future, in terms of either making more housing available, or making housing more affordable.
This bill is apparently, according to one of its authors, still "Under construction", but it does seem that its main intent is to overturn Costa-Hawkins law, and this would be a very bad idea, as well as devastating to many small property owners.
THe news story about this issue also stated that "over 100 new housing laws" are being proposed in California. POlitical leaders seem to think that increasing the amount and extent of government regulations is a way to provide more affordable housing -- this is a very misguided view. I contend that reducing government regulations is actually the way to provide more affordable housing.
See the bill here: leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201720180AB1506
This is a very misguided measure -- as I've written many times, in comments about the housing issues that arise with AIrbnb rentals, I believe that rent control is absolutely not the way to go for the future, in terms of either making more housing available, or making housing more affordable.
This bill is apparently, according to one of its authors, still "Under construction", but it does seem that its main intent is to overturn Costa-Hawkins law, and this would be a very bad idea, as well as devastating to many small property owners.
THe news story about this issue also stated that "over 100 new housing laws" are being proposed in California. POlitical leaders seem to think that increasing the amount and extent of government regulations is a way to provide more affordable housing -- this is a very misguided view. I contend that reducing government regulations is actually the way to provide more affordable housing.