Effects of AB1482 (rent control) already being felt

[bad debt]

Originally Posted by opossum1

CA doesn't need more rentals. It needs more home owners who reside where they own, not more people owning multiple homes
- combined with reduction in population.
So the effects of this law are beautiful if they prevent one from creating yet another slum rental chicken coop in their backyard or another rip-off rental house.
In fact there should be extremely strong protections for buyers who expect to reside in their homes and any investors should be barred from buying until the property sat there on the market for a year, at least.

Nothing stopping people from owning homes if they wish to do so. What do you even mean "strong protections for buyers"? Are you saying that current home owners can only sell their homes to future home owners? Cool you just reduced their potential buyer pool and devalued all of their properties. Good luck ever getting that passed. Also how are you going to monitor it? You going to send out inspectors every year to make sure that all homes are owner occupied?

[aslowdodge]

Originally Posted by opossum1

CA doesn't need more rentals. It needs more home owners who reside where they own, not more people owning multiple homes
- combined with reduction in population.
So the effects of this law are beautiful if they prevent one from creating yet another slum rental chicken coop in their backyard or another rip-off rental house.
In fact there should be extremely strong protections for buyers who expect to reside in their homes and any investors should be barred from buying until the property sat there on the market for a year, at least.

I think it’s short sighted. Cut out rentals and that leaves a lot of people that still can’t afford to buy a house at lower prices with nowhere to live. You will find a large number of people who argue that there already aren’t enough rentals in California.

[CaliRestoration]

Originally Posted by wac_432

This is absolutely true. I was considering building a long-term rental unit on my R-1 property. Even though I would be exempt from the current law, the state has shown that it is more than willing to step in and even postdate laws to screw over landlords. LA issued a moratorium on evictions, basically leaving LL's holding the bag.

So, rather than put in a rental unit, I'll either not build at all, or I'll make any addition an STVR instead. Much less risk of being regulated into a money-losing situation, much higher reward.

Exactly.

This is the reality of the market at work. The very threat of government intervention has already reduced supply.

I wish people who vote "D" would get this through their thick skulls. It's hurting the overall rental market.

[steel7]

Originally Posted by Electrician4you

Nobody is being evicted. They are however given legal notices of rent raises or termination of lease. Nothing illegal about that.

BIG rent increases by greedy landlords.

[CaliRestoration]

Originally Posted by steel7

BIG rent increases by greedy landlords.

You're free to offer your own rental units for FAR below market rate, you know, because you aren't a greedy guy.

[bad debt]

Originally Posted by CaliRestoration

You're free to offer your own rental units for FAR below market rate, you know, because you aren't a greedy guy.

Lol. As if he even owns real estate?

[aslowdodge]

Originally Posted by steel7

BIG rent increases by greedy landlords.

Care to back up your statement?

[CaliRestoration]

Originally Posted by bad debt

Lol. As if he even owns real estate?

That's my point. The people usually screaming "Greedy landlords!" aren't actually property owners.

They have no idea of the cost that go into maintaining a property, the effort to screen tenants, and the overall overhead of owning a property for rental (especially in California where the regulatory burden is steep).

The same group of people who say things like "My healthcare and college education should be free!"

Why, or even how? They don't know, they just want free stuff.

[Burkmere]

Originally Posted by steel7

BIG rent increases by greedy landlords.

Should be able to charge whatever they want! It's called "FREEDOM."

[Burkmere]

Originally Posted by CaliRestoration

That's my point. The people usually screaming "Greedy landlords!" aren't actually property owners.

They have no idea of the cost that go into maintaining a property, the effort to screen tenants, and the overall overhead of owning a property for rental (especially in California where the regulatory burden is steep).

The same group of people who say things like "My healthcare and college education should be free!"

Why, or even how? They don't know, they just want free stuff.

They should be forced to come up with housing on their own! They should be thankful that there are actually properties available to rent!!