More rent control BS

I certainly didn’t vote for Mr. Chiu. He is of the dark side of the Force…

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MV now has a group called Measure V Too Costly. There are some interesting news here too like this one which studies building small affordable homes but old existing rent controlled apts needs to go in their place.

I had one Chinese renter, when I tried renting first time in Cupertino, assured me one year full rent check in advance, but I declined as I knew they are aspiring owners after moving !

The problem with A class apartments and nice sfhs is that most highly qualified tenants are not going to stay long. That is the advantage of class C apartments. Tenants stay because they can’t find anything else.

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So, with rent control now in effect in Santa Cruz (City, not County), I wonder how one can profit from it.
Some ideas:

  • buy during the period of uncertainty. People will vote on it in fall, when rent control will be on the ballot.
    Uncertain sellers… fear… good deals available?
    It may even be defeated on in fall

  • buy MF properties that are in such bad shape that rebuilding is necessary. Rebuild … new construction is exempt from rent control.

Any other ideas?

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Totally agreed. Chiu makes me want to vomit. I was at an event a few days ago where Chiu, the shameless politician that he is, made an appearance. Others around me were cursing him under their breath.

Sell now 1031 out of state…

Tell Chiu to his face what you think…This menace needs to be stopped…Anti Trumpism is going to empower radical progressives statewide…scary and dangerous…

I would expect someone coming out of Harvard to understand the shortcomings of rent control. All I ever asked for was fair legislation that does not penalize the mom and pop owners. How hard is it to understand that costs are increasing everyday (utilities, repairs, supplies, etc) at a clip much higher than what is allowed as the max rent increases?

David, you are offspring from Taiwan, not China, parents…

I told you guys already, US will become communist and china will be a free country in a couple of years

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Ouch! And yet so true.

For what its worth - I spent the past couple weeks researching —- I have the ability to add an ADU accessory dwelling unit to an SFH that I own and therefore do my part in alleviating the housing crisis — but I absolutely refuse to do so because the ADU would be subject to rent control. And, it would then be a slippery slope for the city (i.e. David Chiu) to somehow claim the SFH is no longer protected from RC under Costa Hawkins. No way Jose. Not gonna do it. Not gonna fall for that trap.

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Why not curse loudly? Let Chiu understand that his position is disgusting.

At least speak up

I can understand the fear but if RC is coming anyway you mind as well have the inlaw contribute to your income stream. I will worry about tomorrow, tomorrow…

I really feel the US is heading to a direction right now is rent control after that it will be
start penalizing homeowner with more than one home, maybe double the property tax for other than primary home, heading communism

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ADUs can be either rent controlled ADUs or non-rent controlled ADUs. To have your ADU be non rent controlled, you need to do a non-waiver (from Planning) ADU … that means no waivers on setback, open space, backyard, etc.

Most of the potential ADUs that can be created will require a waiver from planning, meaning that ADU will be rent controlled.

The danger is that once the ADU is created, the SFH is now a “single family home with an ADU.” Is that a 2-unit building and therefore the SFH portion is then also subject to rent control (assuming pre 1979 certificate of occupancy, which is most SFH in SF)? This area of the law is very grey. Right now the party-line in the SF rent board is to consider the SFH portion still a SFH and therefore exempt from rent control. However, if people like David Chiu take office, all bets are off — maybe the rent board will take a different tack — and there is no pre-existing case law to use as guidance.

San Francisco touts the ADU program is a way to incentivize property owners to create more housing units.

If you own, say, an 8-unit building (which would already be under RC if pre 1979) then creating ADUs, whether under RC or not under RC, would be a no-brainer to increase the revenue stream.

However, if you own an SFH, creating an ADU could potentially expose the SFH to rent control if the political landscape changes ---- I am not taking that risk.

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US or California?

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I wanted to, but it wasn’t that kind of event — doing so would have resulted martial discord and strife, which can ultimately be more costly than anything else we are discussing! :slight_smile:

But that is my point, RC is coming at all angles already. Soon, it may not matter if SFH or pre date 19XX or whatever. I figure, I mind as well make money TODAY and not worry about tomorow…

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True - but a repeal of Costa Hawkins is not a fait accompli.

Sure, but it just seems like the divide is getting wider by the second and in a renter majority city that you and I reside in, we have no chance. You got idiot leadership like Chiu who will make it even more difficult for us owners to regain some ground. My Big Bro left the Fab 7x7 (well, he works in SV anyway and he left with a sheetload of money after selling a Sunset duplex back in the day) because of rent control (although he wants back in I think)…