, which has a population of 3,700. Elected officials taking action span California, from Menlo Park and Milpitas in the Bay Area, to Alhambra and Redondo Beach in Southern California, to Madera and Stockton in the Central Valley.
“It just felt like a punch to the gut, this whole time,” said Hamilton, 31. “The feeling still hasn’t gone away.”In October, Gov. Gavin Newsom signed Assembly Bill 1482, which will limit annual rent increases to 5% plus inflation for the next decade and will prevent no-fault evictions for tenants who have lived in apartments for at least a year.
Assemblyman David Chiu , the law’s author, said he anticipated that landlords might try to beat the clock. “These landlords are making a cruel choice to evict their tenants,” he said. “Our law is not forcing them to be greedy. They were always greedy and they’re showing their true colors.”, advocating for rent hikes and evictions before the new law takes effect as a way to protect landlords’ property from artificial limits on their investments.
Rent caps are not the solution as they discourage the production of additional units which just exacerbates the problem. Rent subsidies are a better solution. Look at Vancouver, B.C. to understand how their rent caps worked out.
Get out of the rental business now.
So much for new units ever being built. CA has cornered the market on stupid
I wish they would develop rent schedules based upon our NET TAXABLE INCOME. The current rules take many of us out of the possibility of getting a reasonable, livable rent.
Yah! We incinerate the big corporations for corporate greed meanwhile the landlords are skinning us all, alive!
When statist-socialist policies don't have desired effect let's raise taxes and introduce more comprehensive statist-socialist policies. Brilliant!
I’m all for landlords making a profit, but, a few are just straight up crooks, who make the decent landlords look bad, just glad I stopped renting and bought a place.
And with that, potential investors in residential real estate will consider alternative investments. Dems love to pretend complex issues have obvious answers.
How unfortunate that landlords would advantage of a loophole with little regard to the individuals and families who are impacted by their greed.
It’s all about supply and demand! Can’t afford it? Move out!!!
And they will ALL be pushed put by January 1st, 2020. Thanks to Complicit Mayors, City Councils, Developers and Landlords.
Why have landlords twisting people into impossible situations when you can have neighbors and friends.
I don't like rent increases, but the landlords' costs are increasing, too. The greed comes from elected officials. Vote them out!
Is Calafornia the new Venzelua?
And the murder of affordable housing continues. Good job CA Democrats. Kudos!
Shame on California for not housing its homeless. For letting selfish Reagan policy stick. For being the richest economy and poorest hearts.