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
| Dec 13, 2011
Regulators charge pervasive abuse of construction workers in Connecticut
Federal and state regulators say they have uncovered what they call "widespread noncompliance" with minimum wage and overtime laws in Connecticut's construction industry.
| Dec 13, 2011
Philadelphia mayor signs order for project labor agreements
Philadelphia Mayor Michael Nutter signed an executive order establishing project labor agreements for major public works projects in Philadelphia.
| Dec 13, 2011
Improved code requirements for attic ventilation
The Roof Assembly Ventilation Coalition (RAVC) participated in the development of the code.
| Dec 12, 2011
LEED-EB Outpaces LEED for New Construction
The U.S. Green Building Council’s (USGBC’s) LEED certifications for existing buildings standard is outpacing LEED for new buildings for the first time.
| Dec 12, 2011
Philadelphia Mayor Signs Order for Project Labor Agreements
Philadelphia Mayor Michael Nutter signed an executive order establishing project labor agreements for major public works projects in Philadelphia.
| Dec 12, 2011
Improved Code Requirements for Attic Ventilation
The International Code Council (ICC) recently published the 2012 International Residential Code (IRC) that includes improved code requirements for balanced intake and exhaust for ventilated attics.
| Dec 12, 2011
DOE makes 2010 ASHRAE energy standard the reference for state energy codes
The U.S. Department of Energy (DOE) issued a ruling that establishes the 2010 American Society of Heating, Refrigerating and Air-Conditioning Engineers’ (ASHRAE’s) 2010 energy efficiency standard as the commercial building reference standard for state building energy codes.
| Dec 1, 2011
Chinese cabinet approves regulation to prevent fraud in construction bidding
China’s State Council approved a regulation to standardize bidding processes for construction and other business-related projects in order to prevent fraud and misconduct.
| Dec 1, 2011
More stringent efficiency codes driving growth in green building industry
Thanks partly to upgraded building codes, the building energy efficiency market will soar more than 50% between now and 2017 to $103.5 billion, according to Pike Research.
| Dec 1, 2011
Safety tracking tool helping prevent injuries at World Trade Center site
Since putting in place their Safety Management Systems Tracking Tool three years ago, risk managers for the World Trade Center project in New York say they've seen workplace injuries, reported hazards, and workers compensation claims decline.