California governor signs statewide rent-control law

[Garen Ananian]

Hello All,

A recent article by the Associated Press states that Gov. Newsom signed a statewide rent-control law.  This, despite a recent proposition that was doing the same thing failed at the ballot earlier this year. Here is the link to the article: https://www.marketwatch.com/story/california-governor-signs-statewide-rent-control-law-2019-10-08

[Guy Garner]

This might be one of those posts that I look back on in 5 years and laugh BUT I've read a lot about AB1482 and I don't think it's as terrible as it could be. It doesn't apply to 2doors or below so it doesn't apply to single family homes or condos unless it's a REIT because REIT are evil right? for 2 doors and above it caps the rent at 5% + CPI which equates to about 8%. What I am worried about is if it tracks along the same lines as Oregon where they have added relocation assistance and applied rent control more widely. That would be really bad. CAA, california apartement association, actually didn't oppose the bill which surprised me. CAR did oppose. I'm a member of CAR,CAA and NARPM so if you ever have a property management question feel free to ask. If I don't know the answer I can find someone who