That was my exact thought. Instead of seeing 10% increases in rent every couple years, tenants will now see a steady 7-8% every year. Then, California will “fix” this new problem by setting a price-per-square-foot ceiling, or whatever crazy idea they conjure.
That was my exact thought. Instead of seeing 10% increases in rent every couple years, tenants will now see a steady 7-8% every year.
I doubt it. When I lived in Berkeley under rent control during college the rent increases were ridiculous. Like $5 a year on my studio in the early ‘90s. It was impossible to get a 1/2 bed apartment because everybody kept them after college. There were 40 year olds in my apartment building across the street from the dorms. I believe Berkeley rent control changed after I left but expect the pinkos in Sacto will make this hell on landlords.
Yep, there were years in the 90’s that I didn’t increase tenants rents at all. Those days are over.