Californians Reject Bid to Expand Rent Control

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We have been closely watching the rent control issue for quite a while and have some good news to report from last Tuesday’s election.  For the second time in two years voters in California have said no to expanding rent control.   Proposition 21 would have allowed local governments to put rent control in place for many types of housing, including single family homes and condominiums.  The LA Times says Prop 21’s failure means that “landlord groups have convinced voters that stricter limits on rent hikes are not a solution to California’s housing affordability problems.”  In addition they point out that the measure would not have offered any immediate relief to tenants struggling to pay their rent but rather it would have allowed cities & counties to implement stricter forms of rent control than they currently are allowed to by law.  Indeed….

“Yet again, California voters clearly understood the negative impacts Prop. 21 would have had on the availability of affordable housing in our state by clearly rejecting this radical ballot measure,” said Tom Bannon, chief executive of the California Apartment Assn., in a statement. “It is now time to move from ballot-box battles and enact policies through the Legislature that allow the state to build more affordable housing that will once again make California an affordable place to live for our families.”

The National Multifamily Housing Council (NMHC) had this to say:

“For the second time in as many election cycles, the people of California have spoken loud and clear and defeated short-sighted rent control ballot measures. Proposition 21’s rejection is a victory for hardworking Californians who deserve real housing solutions that increase supply and bring costs down and a signal that voters recognize that rent control is not a sound solution for housing affordability. These challenges will only be solved by collaboration, not by politically-charged statewide ballot initiatives. Lawmakers, community leaders and the housing industry need to work together to make housing affordability a genuine priority, especially at a time when home is our safe haven”

Click here to read the full story at the Los Angeles Times.

Click here to read the NMHC’s statement.

Click here to read our previous posts about rent control.

 

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Director of Education & Outreach, National Real Estate Investors Association

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