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Updated over 5 years ago on . Most recent reply

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Jeff Willis
  • CA & NV
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Rent Control - What Happens

Jeff Willis
  • CA & NV
Posted

Is anyone surprised?

Here’s the background: the state legislature passed AB 1482 to restrict rent increases to a maximum of 10-percent. The measure goes into effect January 1, 2020. While California renters probably breathed a sigh of relief, property owners, at least at Primrose, scrambled to raise their rents before the legislation becomes official law.

Tenants at the 26-unit Primrose, located north of the city limits on U.S. Hwy. 395, received notice their rent would nearly double in September; a month later, on October 15, they received eviction notices. Be out by December 14. Merry Christmas.

Here is the full article https://www.sierrawave.net/hou...

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Theresa Harris
#2 Real Estate Agent Contributor
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Theresa Harris
#2 Real Estate Agent Contributor
Replied

A 10%/yr increase is pretty significant.  Aside from turnover where a place is well below market value, how many people increase rent by more than 10%/yr?

  • Theresa Harris
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