how will rent control affect MANAGEMENT COMPANIES AND BUILDING OWNERS?
Rent control causes immediate reduction in housing stock, forcing more tenants out of their homes and increasing homelessness
With no control in setting the market rate of rents, housing providers will be unable to property maintain their properties. Many will wall into disrepair over time and in some cases become abandoned.
increase in crime
Housing providers will have limited abilities in removing criminal elements from their buildings. Increases in crime in areas surrounding will likely occur as a result.
But I don't live near any apartment buildings, so this won't affect me, right? WRONG
- Costa-Hawkins Rental Housing Act exempts SINGLE FAMILY HOMES and CONDOMINIUMS from rent control statewide
- There are current statewide efforts to repeal this act, therefore your house or your condo may be under rent control soon.
- Rent control restrictions on your house or condo may affect RESALE VALUE and SALEABILITY.
- Your neighbor may be under rent control if he/she chooses to rent the property at any time in the future.
- Cap on rent = neglected property next door
- Just cause eviction = difficult to evict criminals and predators
- Rent control = reduced housing stock / increased homelessness
Don't risk your future and retirement! act now!
With many of us approaching the age of retirement, our financial outlook will be uncertain with the passing of rent control. We will no longer know how much our house or condo will be worth, or if we will even be able to sell it. If we ever choose to rent our home and move to another area, we will be faced with many difficult to navigate regulations and may not be able to cover the costs of upkeep and maintenance.