Recently, there has been a push for stricter rent control measures in California, including Assembly Bill (AB) 1482, which was implemented in 2019 and sets statewide rent caps and eviction protections. However, some lawmakers are advocating for even more restrictive measures that could have unintended consequences and harm both tenants and landlords.
We are urging all state legislators to vote no on these stricter rent control proposals. Here's why:
Reduced Housing Supply:
Stricter rent control measures could deter investment in new housing construction and discourage landlords from renting out their properties. This would further exacerbate the existing housing crisis in California, where the demand for affordable housing far exceeds the supply. Reduced housing supply would result in increased competition for available units, driving up rents for those lucky enough to secure a rental property.
Decreased Maintenance and Upgrades:
Stricter rent control measures could also discourage landlords from investing in property maintenance and upgrades. With limited ability to increase rents, landlords may not have the financial means to maintain their properties at the level required for the well-being and safety of their tenants. This could lead to a decline in the quality of rental housing, negatively impacting the living conditions of tenants.
Hindered Flexibility for Landlords: Stricter rent control measures could impede the flexibility of landlords to adjust rents to account for increasing costs of property taxes, utilities, and maintenance. This could result in reduced profits for landlords, making it financially challenging for them to continue providing affordable and well-maintained rental properties.
Unintended Consequences for Small Landlords:
Stricter rent control measures could disproportionately impact small landlords who own just a few rental properties. These landlords may rely on rental income to support their livelihoods or retirement, and stricter rent control measures could severely limit their ability to maintain their properties or cover their expenses. This could result in small landlords being forced to sell their properties or exit the rental market, further reducing the available housing supply.
In light of these potential negative consequences, we urge all state legislators to vote no on stricter rent control measures in California. Instead, we encourage policymakers to focus on collaborative and sustainable solutions that address the underlying causes of the housing crisis, such as increasing housing supply through incentivizing new construction, promoting affordable housing initiatives, and providing targeted support for vulnerable tenants.
We believe that a balanced approach that takes into account the needs of both tenants and landlords is essential for creating a healthy and sustainable housing market in California. We invite all stakeholders to engage in open and constructive discussions to find viable solutions that benefit everyone.
As a California rental housing provider, you have the power to make your voice heard and protect your livelihood. The proposed Senate Bill 567 and Senate Bill 466, which aim to lower the rent cap and impose eviction protections on single-family homes, may have unintended consequences that worsen the housing crisis in the state. It's time to take action and urge your senators to vote NO on these bills.
What Can You Do?
Take just two minutes today to call your state senators and express your concerns. Here are the contact numbers for some key senators:
When you call, you can use the following script: "I am a California rental housing provider, and I ask you to please vote NO on SB 567 and SB 466. If these bills pass, I will likely have to stop providing rental housing, and our housing crisis will only get worse. Thank you.
Corporate Office
C&C Monterey PM Inc. DRE 01526734
Kyle Chernetsky DRE 01928366
Kevin Cesario DRE 01953086