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California Apartment Landlords Dump Properties Ahead of Rent Control Vote


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2018 May 17, 8:24pm   2,050 views  8 comments

by Patrick   ➕follow (55)   💰tip   ignore  

http://www.cetusnews.com/business/California-Apartment-Landlords-Dump-Properties-Ahead-of-Rent-Control-Vote-.HJN0Y5_RG.html

“These renter groups are starting to speak out and say, ‘These rents are ridiculous.’ They’ve gotten more organized than they ever have been,” he said. “I started getting a little freaked out or a little scared or concerned [that] this could really happen.”

In late April, a coalition of housing advocates said they submitted some 595,000 signatures, more than enough to get a measure on the ballot in November to repeal Costa Hawkins, state legislation that prevents cities and towns from imposing rent control on buildings constructed after 1995 and on single-family rentals.

Both sides are gearing up for a fight and are expected to spend tens of millions of dollars on campaigning.

In Santa Monica, the number of properties on the market is at the highest level in 20 years, according to Tony Solomon, a first vice president at Marcus & Millichap based in southern California. Mr. Solomon said there are 90 properties on the market, about 80% more than normal.

Comments 1 - 8 of 8        Search these comments

1   monkframe   2018 May 18, 7:17am  

Good deal. There needs to be some limits to the greed that is everywhere.
2   just_passing_through   2018 May 18, 8:58am  

This means nobody will want to build apartments as well.
3   Strategist   2018 May 18, 9:43am  

monkframe says
Good deal. There needs to be some limits to the greed that is everywhere.

The greed is......I want to live in an area I cannot afford, and I want someone else to pay for it.

just_passing_through says
This means nobody will want to build apartments as well.

Perfect way to create even higher rents in the future. Who cares as long as the votes come in.
4   SunnyvaleCA   2018 May 18, 10:30am  

just_passing_through says
This means nobody will want to build apartments as well.


Not only will this stifle future construction, it will stifle upkeep, maintenance, and improvements to the existing buildings as well. i.e.: no new building and let the existing rental stock decay
5   lostand confused   2018 May 18, 10:33am  

Strategist says
The greed is......I want to live in an area I cannot afford, and I want someone else to pay for it

Yup they can move to Michigan . I moved away from CA-gee I should have organized a petition to make a Malibu beach house mansion to be rented to me for 500 bucks a month.
6   RWSGFY   2018 May 18, 10:34am  

Soo, if apartments being dumped en masse, are the prices plummeting yet?
7   RWSGFY   2018 May 18, 10:34am  

lostand confused says
Strategist says
The greed is......I want to live in an area I cannot afford, and I want someone else to pay for it

Yup they can move to Michigan . I moved away from CA-gee I should have organized a petition to make a Malibu beach house mansion to be rented to me for 500 bucks a month.


Yep, having that beach view from your living room is a FUCKING HUMAN RIGHT!!!!

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