CA & NV · Member since 2019 · 216 posts · 378 votes
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.
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?
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.
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?