VOTE NO on Prop 33
the “Justice for Tenants Act” in November!
I want to make you aware of Proposition 33 and 34. Prop 33 expands the rules for Rent Control. Currently the Costa-Hawkins Rental Housing Act of 1995 allows rent increases when a unit becomes vacant. Costa-Hawkins also exempts single-family homes, ADU’s, and condos from rent Control. Proposition 33 wants to repeal Costa-Hawkins.
Rent Control benefits only a few and has no income limits. This means a person earning $200,000 can qualify for a rent-controlled unit. (That might be more than the landlord earns) I know rent control tenants that own multiple homes.
Economist Milton Friedman says Rent Control creates scarcity. With scarcity comes higher prices. Stricter Rent Control will only add to California’s already dire housing shortage as developers will not build here. A study by MIT shows Prop 33 could slash property values by as much as 25%! Lower value means lower taxes to the communities.
Renters have options! I am a big fan of the Federal Government funded Section 8 Housing Vouchers. The program plans for the tenant to pay up to 33% of their income for rent and the program subsidizes the balance. They must qualify annually. Builders are required to include 15% of all new rentals to be affordable rentals with income limits.
VOTE NO ON PROPOSITION 33
For additional information please go to: https://caanet.org/topics/costa-hawkins-act/
Prop 33 is sponsored and funded by Aids Healthcare Foundation. This is the 3rd time they have brought this to the ballot. Prop 34 requires Health Care providers such as Aids Healthcare Foundation to spend 98% of their revenues on direct patient care. That should be a No Brainer. Vote Yes on Prop 34
Please pass this information on to all your friends and family.
The real estate data for listings marked with this icon comes from the Internet Data Exchange program of the MLSListings(TM) MLS system. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. The accuracy of all information, regardless of source, including but not limited to square footage and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with appropriate professionals. This site is updated at least 4 times a day.