I understand — the city being a renter majority place and all. That said, Costa Hawkins is a state law, and for Costa Hawkins to be repealed, it would take the entire state to vote to do so — including places like Orange County, San Diego, etc. Chiu’s proposal AB1506 to repel Costa Hawkins got crushed this past Jan - in no small part because the California Apartment Association made it their top priority to crush it.
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For sure, that was a victory that we all needed. But I am not seeing much hope for us owners though. The masses have this attitude that everyone owes them something and well leaders will go to where the votes are. I say, make as much as money as you can (present day) so that you can just retire that much sooner.
I see great hope in the YIMBY movement. More and more young people see BS in NIMBY’s arguments. If and when we have a lot more housing supplies the pressure on us owners will come down somewhat.
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These commies consider rental property a utility to be regulated. They want all the benefits and none of the costs of cheap housing. They will steal your equity just like Berkeley did to my Grandpa 45 years ago.
I agree. The Bezerkeleyites did to your grandfather what the Red Communists did to my own grandfather in 1949.
Anyways, this is why I try to make it a point never to own multi-family properties in the bay area. I only own and rent SFHs and Condos. I am happy to trade off income for captial appreciation… as long as I can maintain some semblance of liquidity by having the option to sell to folks seeking to buy a home.
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Great minds think alike. 
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Rent control advocates attacking owners of multi family are cutting off their nose to spite their face…Multi family will be the only affordable homes left…These commies will go after sfhs too…it is taxpayers against tax consumers…The have vs the have nots…The have nots will take everything and leave the state a shithole…
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Agreed, the leeches are not going to just stop sucking all of the blood until it is all gone…
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If even the pro growth city of Sacramento can’t figure out how to build its way out of the housing crisis then RC is a fait accompli
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Time to sell RE and put everything in bitcoin my friends…
I am ready for rent control. My apartments in Tahoe are now at a 14cap. When rent control comes the higher cap buildings will command a premium. I don’t think rent control will ever happen for sfhs.
Just keep raising rents as much as you can before the communist takeovers.
have you already registered a new domain bitcoinforums.net ?
It’s a little depressing for me to see rent control coming to Santa Cruz, but I will give it a try as a landlord. There has to be a way to make it work. Creativity is key! I recently gained a new tenant and she told me that her last place charged a monthly parking spot fee (she had 2 cars… 2 fees to be paid), a monthly pool key fee, and a few more.
Supposedly, increases on such fees would not be subject to rent control.
That previous landlord was a big complex. One of the few big complexes in Santa Cruz. Their fees are probably going to be discussed in court by 2019.
Another strategy is to pass all utilities on to the tenants. I already do that on a few properties. It is a bit extra work, but it encourages them to tell me about leaking toilets and they watch each other’s habits. If one of them throws a greasy pizza box in recycling, there will be a charge of $50… to be paid by the tenants.
Ideally, I would like them to pay taxes and insurance as well, like on a commercial lease, but I don’t think they’re ready for that.
A final thought. Taxes! When permitted rent increases are minimal, and at the same time the city increases their fees for water, sewer, trash by 10%/year, this reduces profitability. For multi-family, a 3% cut on the net income immediately reduces the value by 3%. This should be a talking point in my letter to the property tax assessor/ appraiser.
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“Nor is it factual that rent control decreases supply; cities with rent control see more housing production than ones that don’t.”
Where’s her data? This is why I hate most articles. They make plenty of claims without presenting any data. They are really nothing more than someone’s opinion. Look at her website. There’s some buzzwords with zero plans behind any of it.
Rent stabilization ordinance
Inclusionary housing ordinance
Just-cause eviction ordinance
Permanent source funding for housing trust
Land trust
I was expecting to be able to click on each and see an explanation of how they’d help. There nothing. The website is literally one page. It’s clearly designed to appeal to people who share memes with zero regards to how factual they are.
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bitcoin forum… oh boy. Maybe someone like @BAJacket can set one up.
I always thought Santa Cruz already had rent control. So the fact that you only have it this year is a big bonus to landlords. Ain’t it Berkeley with beach?
I know guys that make money with Berkeley apts. the key is buy right. As least 1cap higher than in non rent controlled cities and buy studios and 1bds. Higher turnover. Tahoe naturally has high turnover… Rent control is coming every where.
If they want rent control on increase, then tenants should be obligated to stay and pay the same price in a downturn.
Why put up with this BS? There are easier ways to make money. Let somebody else handle the headache.
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The entitled mob is coming for your money. Rent control is just the tip of the iceberg. They’ll get a voting majority to make it happen (especially in California).