The bill limits annual rent increases to 5 percent after inflation
That’s not much control. If inflation is 3%, then the rent can go up 8% per year.
The 8% is the CA government just getting their foot in the door, setting the precedent of government controlling rents.
Stricker limits will follow.
“Thats not much control. If inflation is 3%, then the rent can go up 8% per year.”
So, if I renovate a termite infested slum house with no roof that was renting for $100 a month, how much rent can I now get after spending $100k in repairs??
Once the system is imposed, the numbers can be easily changed.