Property Owners - Get out the Vote on Prop 33
September 24, 2024
September 24, 2024
Are you a landlord? Is it possible you may rent out your home in the future? If so, Prop 33 is a critical vote this November! If Prop 33 passes, it will allow local governments to expand rent control. San Francisco, Oakland and Berkeley already have some of the strictest rent control laws in the country, offering tenants protections from eviction and rent control increases. If Prop 33 passes, those cities and others would likely pass additional, even more tenant-favorable, rent control laws. The proposition would repeal Costa-Hawkins, making it possible for rent control to be expanded to apply to single-family homes and properties built after 1995. It would also make it possible to restrict rental rates even after a tenant vacates a property.
We meet with homeowners all the time that are shocked to learn of the restrictions they would be operating under, should they choose to turn their current home into a rental. These conversations often result in property owners being too nervous to become Bay Area landlords. This means that their homes never become part of the rental housing stock, and that our clients feel they have more limited options for how to use the property they own in these cities.
Additional rent control laws would further restrict owners' rights and would affect the value and desirability of rental properties. If you are a property owner (especially if you already own rental property, or own a single family home or any property built after 1995), this is an important proposition to pay attention to on the November ballot.
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