Election season is here, and it is imperative that you make your voice heard!

With multiple propositions on the ballot that affect the landscape of real estate, it is essential that we understand the ins and outs of each legislation. We will briefly discuss each one leading into the election – let us start with Proposition 21.

If passed, Proposition 21 would give cities and counties the ability to enforce stricter rent control regulations on all housing that is more than 15 years old, with the exception of single family homes owned by landlords who own one or two properties. In addition, cities and counties would be able to limit how much a landlord can increase rents when a new renter moves in – increase rents by up to 15% during the first three years after a new renter moves in.

The fundamental issue behind rent gauging is the lack of affordable housing. While Prop 21 may keep rents at bay for prospective tenants, it does not address the issue for tenants currently paying those astronomical rents. In addition, the proposition does not spur or encourage the construction of new housing that is catered to these socio-economic renters that are being outpriced in California.

We highly encourage you to take the time to review Proposition 21 and fully understand how it may impact not only renters, but also landlords.