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Kelly A.
  • Investor
  • Oakland, CA
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Prop 10–raise rent in anticipation?

Kelly A.
  • Investor
  • Oakland, CA
Posted Aug 28 2018, 18:20

I own a condo in Oakland that I rent out; I have a long-term tenant paying rent a good deal below market. i was going to give her notIce of a 5% increase.

However, prop 10 has me worried about vacancy control. Should I do a significant bump to align the rent more with market before the city drops the hammer? I don’t want to because my tenant is older (and a single person in my unit, so a pretty low maintenance tenant)—and I’m not sure she can afford it, but I don’t want to be screwed  when she leaves. 

Thoughts on how Prop 10 will play out?

Thanks!

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