Rent Control - What Happens

3 Replies

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

Yeah have mixed feelings about rent control.  Is it annoying? Yes, but if we believe as I do that it doesn't help the situation and only makes rents higher by constricting supply, there is that as a silver lining as long as you stay on top of it.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here