Short bay area reits? Buy puts? Sell calls? Any of these possible?
Not possible. The effect would be over the long term. Maybe 20 years later, none of the google new hires can not find a rental home due to low rent and reduced total unit number of rentals. How do you hedge this?
Doesn’t work. Google can move new jobs to Austin and stock can still double in Texas.
@tomato, why don’t you rent a mansion in Mountian View? When new people can’t find housing, your job will be secured by your secured lifetime lease
I’m planning to require a 50% raise because I have my own house so my employer doesn’t need to find housing for me.
Not a bad idea, i might as well do that.
Costa Hawkins? I hardly ever heard of it except in this forum. Let’s not worry too much about it…
That’s the life and death issue for California, buddy
What is the Costa-Hawkins Rental Housing Act?
The Costa-Hawkins Rental Housing Act (Costa-Hawkins) is a state statute that limits the use of rent control in California. Costa-Hawkins provided that:
Cities cannot enact rent control on housing first occupied after February 1, 1995, and housing units where the title is separate from connected units (such as free-standing houses, condominiums, and townhouses).
Housing exempted from a local rent control ordinance before February 1, 1995, must remain exempt.
Landlords have a right to increase rent prices to market rates when a tenant moves out (a policy known as vacancy decontrol).
Renting is a short on RE
Not planning to rent your backyard or garage or a bedroom? You’ve daughters? Don’t worry they could be potential Larry or Sergei.
Absolutely. My dream is to have a daughter who marries a billionaire so I can live off the immense wealth of my son-in-law…
You should volunteer 10 hours per week for the next 4 months for a cause. That cause is to Save Costa Hawkins Act.
Or bluntly, Vote No on Prop 10!
I’ll look into it. Does rent control cover a backyard tent with no kitchen and no bathrooms?
Oh hell no.
Well, waiting to be slaughtered then
Have to wait for the details. In any case, you can tear down the original tent once the lease expired (suggest making it a 6-month lease and call it hospitality tenting) and put up another tent in another part of the yard, is a brand new tent in a brand new place
That seems a good idea. But the building department may require a permit for tent setup, teardown and Re-setup at a different location. They may ban teardown of the old tent.
Well, they are quite slow to catch up with the tenting phenomenon. By the time, they catchup, you’ve made tons Now that you mention they could come after you, perhaps, have more tents and put some up in the front garden too Make as much as you can before building department catch up with you.
I worries me to hell that almost nobody knows about Costa Hawkins. Will Proposition 10 just pass based on people’s information balckhole?
Rent control may be brutal to landlords but I am not convinced it will tank the local economy. Something opposite may actually happen.
NYC has had rent control for the longest time. Still the world capital of finance, media, fashion, etc. Many European countries have rent control and they seem to be doing fine.
You need to separate your raw emotions from the dollar and cents of your investment decisions. If more rent control is coming and you are not comfortable just sell your properties. There are plenty of other investment options. Even within real estate nobody says you have to invest in residential.