February 4, 2020 Comments Off on California Rent Control Back in 2020 as Activists Qualify v2.0 Views: 1288 National News, West

Rent control is back on the California ballot for the state’s coming November 2020 general election, as California’s Secretary of State has confirmed the signatures qualifying the initiative.

According to a thorough summary from Sheppard Mullin for the National Law Review, industry members should expect that two years after voters decisively rejected expanded statewide rent control, they will be asked to weigh-in on the issue yet again. The sponsors of the unsuccessful 2018 effort submitted this new version despite lawmakers passing a statewide rent cap last year, which set a maximum annual rent increase of 5% plus inflation, and included eviction protections for longtime tenants.

Also, the new measure empowers cities to enact vacancy controls on landlords, allotting them only one rent increase on a vacated property by up to 15% only once every three years, plus whatever rent control increase is allowed by the local jurisdiction.

Read more at National Law Review

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Tags: Affordable, Apartments & Multifamily, Condominium, Development, Housing, Politics

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California Rent Control Back in 2020 as Activists Qualify v2.0

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