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The San Francisco Rent Ordinance imposed rent control and eviction protection on residential units built before June 13, 1979. [27] A 2019 study has estimated that rent control has "reduced the supply of available rental housing by 15 percent" which "increased rents in the long run." [28]
HotPads was founded in 2005 by Matt Corgan, Douglas Pope, and John Fitzpatrick. The site currently lists 4 million for-sale properties and 500,000 rental properties, [3] with its most densely listed areas being New York City and Washington DC. In 2006, based on information from 2006, HotPads operated with a staff of 10 people out of Washington ...
Rent control laws define which rental units are affected, and may only cover larger complexes, or units older than a certain date. To attempt to not disincentivise investment in new housing stock, rent control laws often exempt new construction. For example, San Francisco's Rent Stabilization Ordinance exempts all units built after 1979. [63]
In 1994, San Francisco voters passed a ballot initiative which expanded the city's existing rent control laws to include small multi-unit apartments with four or less units, built prior to 1980. (about 30% of the city's rental housing stock at the time).
[4]: 14,16 In San Francisco, a minimum wage worker would have to work approximately 4.7 full-time jobs to be able to spend less than 30% of their income on renting a two-bedroom apartment. [5] San Francisco has several thousand homeless people, despite extensive efforts by the city government to address the issue.
In 2016, The Guardian reported that the average SRO rents in San Francisco's Chinatown are increasing from $610 in 2013, to $970 in 2015 (the average rent for all rental housing was $3,907). [40] The increase in SRO rents is due to the shift away from renting to Chinese immigrants towards "college graduates, single adults and white people". [ 40 ]
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