Costa Hawkins Rental Act (Costa-Hawkins”) is a California state law enacted in 1995, which places limits on local rent control laws.
There are three main limitations:
1. It protects a landlord’s right to raise the rent to market rate on a unit once a tenant moves out.
2. It prevents cities from establishing rent control or capping rent on units constructed after February 1995.
3. It exempts single-family homes and condos from rent control restrictions.
California Proposition 10 is a Local Rent Control Initiative which repeals Costa-Hawkins by expanding local governments’ authority to enact rent control on residential property and it is on the ballot this November 6, 2018.
A Costa-Hawkins Repeal would mean cities and counties would be able to regulate rents for any housing and would limit how much a landlord may increase rents when a new renter moves in. The impact could be that landlords instead of renting out their properties, may have a huge financial incentive to turn their properties into short-term vacation rentals to avoid rent regulation. This may make it harder to find available rentals. What are your thoughts about the Prop 10 initiative?
To get your FREE copy of Prop 10 Summary courtesy of #caattorneygeneral and the Rent Regulations Reference Sheet flowchart, courtesy of @BornsteinLaw go to beverlyverrett.kw.com/oakland-rent-regulation-reference-sheet or go to bio.
Note: The Rent Regulations Reference Sheet is current as of current date but may change following the result of the November 6, 2018 ballot.
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