What Is Prop 10? Learn More About Rent Control in California

Are you a renter in California or a landlord? If so, regardless of your political preference, you definitely will want to vote next week because, every voter in the state has the ability to vote on either approving or stopping proposition 10 from becoming law.

What is Proposition 10?

Proposition 10 will give cities like San Diego and Los Angeles the ability to expand rent control. This will be done by repealing Costa Hawkins, the 1990s Housing Act that has been in California for over 20 years.

Thanks to Costa Hawkins, landlords in San Diego have the right to raise the rent on their units to the fair market value when an old tenant moves out. This could change though with proposition 10 which could make a landlord’s ability to raise the rent after tenant moves out a thing of the past.

Cities like San Diego could implement restrictions on all of the local housing stock including single family homes, condos, town homes and new apartments.

How Will Rent Control Affect California?

The obvious argument for rent control is that it will protect renters from excessive rent hikes and keep their homes affordable.

Although rent control sounds ideal for California, and many people feel that it will be a cure-all for the housing crisis, implementing rent control will not encourage the construction of more housing in the Golden State when this is what California desperately needs.

Many industry analysts and economist who have been following the developments of proposition 10 over the last year have seen landlords sell their rental properties in California in favor of getting out of the state before rent control becomes law. Other landlords have sold their portfolios of single-family homes to individual owners, effectively taking those rentals off the market.

Regardless if you stand for or against rent control in California, don’t forget to vote! Make sure your voice is heard in November by casting your vote when it comes to this crucial issue.

Get Property Management in San Diego

For property management in the San Diego area contact Golden West Management today by calling us at (866) 545-5303 or click here to connect with us online.

California Renters may get 3 extra weeks before eviction – Assembly Bill 12345

By GoldenWest Management

SAN DIEGO, CA. – Landlords in California are facing more challenges than ever before including Assembly Bill 2343 which will essentially reward renters who have failed to pay their rents by delaying the unlawful detainer process by up to 3 weeks.

Assembly Bill 2343 – What Does This Mean for Owners?

Right now, the law in California states that tenants have 3 days to pay or quit if they’ve failed to pay their rent.

If AB 2343 were to be passed, that 3-day period would be extended to 10 days and a tenant’s time to answer an unlawful detainer would been increased from a period of 5 days to 14 days.

Assembly Bill 2343 will provide rent defaulting tenants with rent fee housing for additional weeks at the expense of the owner who will be forced to continue covering all of their normal expenses while the tenant lives in the property rent free.

This bill is due to be voted on May 31st, 2018. We will keep you updated if it’s passed or not.

Rent Control Is Headed for The November 2018 Ballot

There’s no doubt that rent control has been one of the hottest topics in California this year and even though some cities (Los Angeles, Santa Monica, and West Hollywood) have rent control laws, if Costa Hawkins were to be repealed we could see widespread rent control across the state.

What is Costa Hawkins? It’s a 1995 policy that protects an owner right to raise the rent once a tenant moves out.

Repealing Costa Hawkins would mean that anyone who owns rental property in California would not be able to get the fair market rent for their rental property

Will Costa Hawkins be repealed? Right now, the frustration over rising rents is the greatest we’ve ever seen and may result in a Costa Hawkins repeal.

The controversy surrounding rent control in California has caused many owners and investors to start selling off their California properties before the November 2018 vote.

Get Property Management in San Diego

Do you need property management for your San Diego rental property? If so, contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.