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 7, 2021
Bechtel, Nautilus partner on sustainable, high-performance data centers
Facilities would use 70% less power for cooling, eliminate consumption of drinking water.
Codes and Standards | Jul 7, 2021
Surfside condo collapse could spur new legislation
Natl. Institute of Standards and Technology is investigating.
Codes and Standards | Jul 7, 2021
Intl. Code Council appoints committees to lead energy code development
One-third of appointees are government regulators.
Codes and Standards | Jul 1, 2021
COVID-19 made payment delays to contractors much worse
Only one in ten companies is always getting paid in full.
Codes and Standards | Jun 30, 2021
New resource for public sector organizations to develop energy data management program
Dept. of Energy document contains more than 30 examples of successful implementations.
Codes and Standards | Jun 29, 2021
Biden China policy may spur more increased U.S. PV manufacturing capacity
Senate bill proposes advanced solar manufacturing production credit.
Codes and Standards | Jun 28, 2021
Local and state building energy performance standards aim to curb climate change
Owners must up the ante on operations and retrofits.
Codes and Standards | Jun 24, 2021
Biden Administration will restore ‘Waters of the U.S.’ protections ended by Trump
Early revision more likely to hold up in court, says legal expert.
Codes and Standards | Jun 23, 2021
Denver unveils renewable heating and cooling plan
City releases roadmap to decarbonizing existing homes and buildings.
Codes and Standards | Jun 22, 2021
Actually, few companies plan to significantly reduce their office footprint
CBRE survey shows that many firms will continue with hybrid work.