California legislators passed a bill that limits rent increases across the state to 5% plus inflation on apartments built at least 15 years ago.
Gov. Gavin Newsom is expected to sign the bill into law. The measure includes exemptions for owners who live with their tenants, and owners who live in one part of a duplex and rent out the other unit. Landlords will be allowed to raise rents to market rates when a tenant moves out.
The measure will have little impact on large cities such as Oakland and San Francisco, which already have rent restrictions, but it is expected to significantly affect places like the wealthy suburbs of the Bay Area. The law also includes eviction restrictions. Landlords will be prohibited from kicking out renters who follow the rules of their lease unless the owner is moving in, tearing down the residence, renovating it, or taking it off the rental market.
The California Association of Realtors and most of the state’s Republican lawmakers opposed the bill, saying it would decrease the value of rental properties and deter developers from building more housing. Democrats and renter advocacy groups said the measure is necessary to stem a serious homelessness crisis and help families anticipate rent increases.
Related Stories
Codes and Standards | Jul 26, 2017
New ISO standard on video fire detectors will help identify fires more quickly
The standard marks the first comprehensive international specification for this equipment.
Codes and Standards | Jul 25, 2017
Geotechnical solutions prevent building distress due to expansive clay soils
The condition is the most common geologic hazard in the U.S.
Codes and Standards | Jul 24, 2017
Non-union labor gaining ground in New York City
President of contractors’ group says competitive pricing is spurring more open shops.
Codes and Standards | Jul 20, 2017
New tallest tower west of the Mississippi built to stringent seismic standards
L.A.’s new 1,100-foot skyscraper dominates city’s skyline.
Codes and Standards | Jul 20, 2017
Chicago rises to the top of U.S. cities in percentage of LEED or Energy Star office buildings
Certified office buildings reach 66% in windy city.
Codes and Standards | Jul 19, 2017
Economic impacts of climate change will jump over next two decades
Average annual cost to buildings and infrastructure from eastern storms to rise by $7.3 billion.
Codes and Standards | Jul 18, 2017
Energy modeling yields accuracy within 4%, says new study
Results of the study support the usefulness of the practice.
Codes and Standards | Jul 13, 2017
Net Zero Energy rebranded as ‘Zero Energy’
ILF aims to make new certification the sole standard for highest performing buildings.
Codes and Standards | Jul 13, 2017
New York City creates $10 million fund to help women- and minority-owned firms win construction contracts
The money is earmarked for up to $500,000 surety bonds per contract.
Codes and Standards | Jul 12, 2017
New International Building Code allows weather-resistive barriers above 40 feet
Danger of propagating flames now deemed negligible.