what is your strategy with Prop 10? increase the rent now before it get voted?
Not everywhere have rent control😂
Not worried in Eldorado County. Sacramento may happen. Even without prop 10 rent control is a state wide menace. Laws are already tilted towards tenants
Have 3 properties in rent controlled cities, when is it set for a vote?
I own property in Oakland that is newer… not rent controlled. Prop 10 is not good for me or Oakland.
It is a violation of a contract between the government and developers. Illegal, insulting and ultimately self defeating.
if passed , you exiting?
Can’t. It is a partnership and an amazing cash cow that I’ve had for over 15 years. We might sue though.
I have one in oakkand as well. Might be raising the rent enough before the prob 10 passed?
I own with Madison Park Properties. We are there for the long haul. I personally think Prop 10 won’t pass . And if it does it will be tied up in court until RBG is replaced.
Great, hope it won’t pass. That’s the only thing landlord has for single family homes
How can it hurt if you raise rent to market prior to prop 10? You’ll forever lose that right
Just because the cities can impose rules, does not mean they will. There are so many other states with no restrictions on rent control laws. Are their rent control policies this draconian?
If every landlord panics and starts gouging rents, Prop 10 will pass. I raise empty units to market and existing tenants 5% on average.
We need to pay russia/china to hire some russian/china bots on social media on this issue since they’re so expert on this issue, probably can generate a million tweets a day on how bad prop 10 is.
In MTV they rolled rents back to a period >1 year prior.
“Covered Rental Units must roll back rents to the Base Rent (the rent in effect on October 19, 2015) as per December 23, 2016. For tenancies starting after October 19, 2015, the Base Rent is the rent initially paid by the tenant upon start of tenancy.”
Their intention was to cancel all the rent increases happened during the rent control bill consideration. So it could be too late to raise rent now, might as well not to increas and hope that Prop 10 will fail.
1031 quickly to non rent control neighborhoods. Btw, I don’t have any rent control by design.
Mtv rolled back rents to a year or two’s levels.
If cities decide to treat rentals as utilities then landlords should be guaranteed the same return as PGE.
I feel safe in Eldorado County. 75% homeownership
Rock Rib Republicans and NRA members. No progressives allowed.