Updated over 6 years ago on . Most recent reply
It's not getting any easier to be a landlord in Cali
California just passed a rent-increase cap. Check this out:
https://rentalhousingjournal.com/california-assembly-passes-7-percent-rent-cap-bill/
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@Marc Winter, as a Cali landlord I don't see this as a big deal. If I was to increase my rents by 7% PLUS inflation, I would soon be pricing myself OUT of the market. Also, note the ppl who are not effected: Less that 10 SFR, properties less than 10 years old, etc. If you have 10 SFR's, you have at least 5 Mil in property value.
I do, however, see it as a possible 'box in' for apartments & commercial.
Cali is going to vote on REPEALING part of prop 13, which IS a big deal. The present target are those big, bad businesses that bought their property pre-1975 and were afforded low property tax. I'm NOT sure if apartment complexes would be subject to this vote or not. If they are, that's where the 'box-in' starts as they will pass along the property tax increase.
But it definitely proves that Cali is going after ALL the tax they can, good years or not. The state is flush w $$$$ and probably looking to build homeless shelters that rival the Taj Mahal.
And after they are done getting those big, bad, evil businesses, they will go after the SFR. And THOSE were the ppl that were supposed to be protected. :-(