Effects of AB1482 (rent control) already being felt (Sacramento, Clyde: real estate, renters)

[CaliRestoration]

Originally Posted by DonSJ

You should do a research

Maybe you should take your own advice.

Who signed AB 1482 into law? Who were the authors of the bill?


Primary Author of AB1482 - David Chiu (D-San Francisco)


Newsom (King California Democrat)


Don't see any Conservatives/Republicans on that list.

[BB_210]

Landlords are now forced to up rents from below market to catch up to the prop 13 repeal that's coming. That tax has to be paid by someone and it won't be the landlord. Democrat politicians win, their base and everyone else looses.

[CaliRestoration]

Originally Posted by max210

Landlords are now forced to up rents from below market to catch up to the prop 13 repeal that's coming. That tax has to be paid by someone and it won't be the landlord. Democrat politicians win, their base and everyone else looses.

The momentum for Prop 13 to be repealed is building now. Unions are donating millions. Once they smell those billions of dollars from the split-roll, residential will fall next.
https://reason.com/2019/09/06/teache...erty-tax-caps/

[opossum1]

Many Notices to vacate?
I see Okupa movement (squatters with political platform) coming here from Spain soon.
They should actually declare the state of emergency and ban all Notices to vacate without extenuating circumstances, kind of like what they do with price gouging during disasters. This might cool down some heads seeing their crapshack being valued millions soon.

[Des-Lab]

Originally Posted by opossum1

ban all kind of like what they do with price gouging during disasters.

Price gouging laws have been repeatedly proven beyond even any debate, to be an unmitigated disaster. It only exacerbates the very problem it purports to solve: hoarding leads to outages.

The rental market in CA will be no different.

Sure, it *may* help a small percentage of renters, perhaps 20% at most. The other 80% are going to find themselves royally screwed over in the long run and in a far, far worse situation than had they simply sucked it up by paying, moving, pooling with others, or whatever.

There isn't a supply problem. I can jump onto any dozen websites and find hundreds if not thousands of apartments that are 'move in today' ready. So the "we need to build more" argument falls apart because the facts just don't support that statement.

Finding a cheap (i.e. below market) one though is another story. The problem is one of expectations, not supply. But funny how no one mentions that.

Let this run its course. And many people will be singing a very different tune, from kvetching about "paying too much to live" to having no place at all to live.

Bank on it.

[opossum1]

Originally Posted by Des-Lab

Price gouging laws have been repeatedly proven beyond even any debate, to be an unmitigated disaster. It only exacerbates the very problem it purports to solve: hoarding leads to outages.

Not sure what you mean by price gouging practices proving themselves to be a disaster. These practices clearly work and their use is widespread in various states. In California, a recent example that comes to mind is Paradise Camp Fire situation, where they had to put a damper on evictions/rental price gouging in the aftermath of the fire, in Chico. These things do work and are justified, and what these gougers do is appalling, immoral and inhuman.
And what kind of "civilized" society and "community" one can talk about if there's no protection from price gouging? When part of the community suffers is it OK for the rest to rip the last off them?
If so, then the rest shall reap what they saw in terms of crime, rudeness, filth in the streets, disrespect, unfriendliness/hostility, road rage, bad service and other forms of community destruction (that is happening more and more all over the States now): they broke the social contract first by being inhumane to fellow neighbors, and will have only themselves to blame, then.

[Ultrarunner]

Actions have consequences and this is the direction the State has chosen.

I'm a 30+ year member of the local Apartment House Association which is mostly Mom and Pop owners with a few rentals... some live onsite.

The exodus is happening but so far there has been no shortage of buyers... many flippers to be sure.

Only time will tell.

Some of the larger corporate owners simply no longer deal with anything that has a bed... yet, their roots are apartments... now they are strictly commercial and industrial...

Business to Business rentals are largely the way they have always been... the rights and responsibilities are negotiated and defined in the contract.

Many said rent control would never come to their area... it was a SF, Berkeley, Oakland thing in Northern CA... well Never has come.

[Ultrarunner]

Originally Posted by opossum1

Not sure what you mean by price gouging practices proving themselves to be a disaster. These practices clearly work and their use is widespread in various states. In California, a recent example that comes to mind is Paradise Camp Fire situation, where they had to put a damper on evictions/rental price gouging in the aftermath of the fire, in Chico. These things do work and are justified, and what these gougers do is appalling, immoral and inhuman.
And what kind of "civilized" society and "community" one can talk about if there's no protection from price gouging? When part of the community suffers is it OK for the rest to rip the last off them?
If so, then the rest shall reap what they saw in terms of crime, rudeness, filth in the streets, disrespect, unfriendliness/hostility, road rage, bad service and other forms of community destruction (that is happening more and more all over the States now): they broke the social contract first by being inhumane to fellow neighbors, and will have only themselves to blame, then.

Another way to look at it is the average renter is too ill equipped to understand a rental agreement...

I never thought this starting out but see it first hand.

Surprised me how many don't read what they sign... or have no interest.

With each new tenant I insist we go through the agreement top to bottom... I ask questions, give examples, etc... some appreciate and some are annoyed.

[2sleepy]

Originally Posted by CaliRestoration

California Democrats hurting poor people once again.

They've been getting those mass eviction notices in Sacramento county for a few years now, when landlords realized that they could get $1400 for a 2 bedroom apartment rather than $900 or $1,000 they've been charging, they've been evicting all the existing tenants, putting in pre-fab granite countertops, painting over the mold and renaming their ugly old apartment buildings with names like "Park Place" or "The Avenue"

[2sleepy]

Originally Posted by max210

Landlords are now forced to up rents from below market to catch up to the prop 13 repeal that's coming. That tax has to be paid by someone and it won't be the landlord. Democrat politicians win, their base and everyone else looses.

Oh please, landlords have hardly been struggling. My neighbor owns about a dozen duplexes that he bought several years ago for between $150,000 and $200,000, he now rents them out for $1400-$1600, that's $2,800-$3,200 per building. Do the math, even if they were reappraised at current market value of ($300,000-$450,000) he would be raking in profit.