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Proposition 33, titled Expands Local Governments’ Authority to Enact Rent Control on Residential Property, and also marketed as the "Justice for Renters Act", was a California ballot proposition and initiative statute in the 2024 general election that would have repealed the Costa–Hawkins Rental Housing Act and allowed localities to enact ...
As GOBankingRates previously reported, a survey from the rental platform Zumper found that the median rental price of a one-bedroom unit rose 11.6% in 2021 alone, while the median price of a two ...
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]
Proposition 33 would repeal a 1995 law called the Costa-Hawkins Rental Housing Act, which generally prohibits local governments from limiting rental rates as issued by landlords.
A city may later discontinue its rent control, e.g., Santa Rosa voted to repeal its new rent control law in 2017. [122] [123] [124] This survey was completed circa October 2018. Since the severe economic consequences of the COVID-19 pandemic, city councils have adjusted to the changed circumstances. Especially, the State of California has ...
While many cities in California raised rents to record-breaking highs in 2022, the state of California does have statewide rent control caps. City specific laws extend to cities in Northern and ...
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Assembly Bill 1482, or the Tenant Protection Act, limits when a landlord can raise a tenant’s rent and how much. State law says landlords cannot raise your rent more than 5% plus the percentage ...