21 Sep Rent Control
Rent control is a system of laws that aim to ensure the affordability of housing available to rent. It can be broadly defined as governmental regulations that limit the landlords’ ability to set and increase rents freely on residential properties. Most rent controls are one of two types: rent ceilings or tenancy rent control. However, the laws are not just concerned with rent limits or increases only. They also deal with the landlords’ responsibility to make repairs, lease renewals, and evictions.
Is It A Viable Option?
With homelessness reaching crisis levels in many cities across California, to some, it seems like the only viable option. Although rent control varies widely in their exact terms, some including the measure proposed in National City have real teeth. In fact, the measure in National City is a very strong from of rent control. With this in mind, we offer some insight on the National City measure.
Please Note: this information is not a substitute for qualified legal advice. Furthermore, you are responsible for performing your own research and complying with all laws applicable to your unique situation.
Rent Control in San Diego
San Diego is one of the few big cities in California with no form of rent control. In fact, from East Village to Little Italy, rent levels are soaring. And, with all the new construction activity in Downtown, new apartment complexes that offer city views will most likely be more expensive than a mortgage. From San Francisco to Los Angeles, these are two big cities with current control measures. The question is, will San Diego be next? The reality is, if voters across California pass Proposition 10 in November, every rental property owner in San Diego could be impacted by these policies. Proposition 10 would repeal the Costa-Hawkins Act, allowing cities to once again impost radical forms of rent control.
- Rent Control leads to a reduction in the available supply of rental housing
- Necessary repairs or remodeling can’t be made because rents cannot be raised
- Rent Control can destroy the incentive to build new properties
- There are significant fiscal costs associated with implementing a rent control program
- Rent controlled buildings can potentially suffer from deterioration or lack of investment
National City Measure
If approved by voters, National City’s measure would cap annual rent increases at 5 percent. Additionally, it will ban arbitrary and unfair evictions in a city where renters make up 70 percent of the population. In November, voters will decide whether to enact the measure. Not to be confused with rent stabilization. To read the full summary click here.
What You Need To Know About Rent Control in San Diego
Keep in mind not all rental housing within a rent controlled city is subject to the laws. However, as more cities face ever increasing rents as well as and concerns over gentrification and displacement. Tenants’ right groups are pushing the issue as hard as they can. Most cities use these laws to keep monthly payments down for tenants and protect them from eviction. While most California cities do not have rent controls, the affordable housing crisis may get worse if Proposition 10 passes. Proposition 10, would repeal the law called the Costa-Hawkins Act. The act barred cities from capping rents on housing built after the measure took effect in 1995. In San Diego, that applies to most of the housing.
Wondering How This Affects You?
If you are wondering how this affects you or not sure what to do, we can help. Whether you are interested in changing property managers, or simply looking to hire a property management company for the first time, Rancho Mesa Properties can help. We take care of all types of residential rental properties including homes, condos, multiplexes such as duplex and triplexes, and even small apartment buildings. Let us manage your rental properties, so you can enjoy your life! Call us today at (858) 576-2176. We will save you time, money, and the stress that comes along with managing your own rentals.