A proposed bill in California aiming to reduce the maximum allowable rent increase for multifamily properties from 10% to 5% has been shelved for this year in the Assembly amidst significant pushback from landlord associations and real estate agents. Advocates argue that concerns about hindering development are overstated, and emphasize the persistent need for tenant protections. Shanti Singh of Tenants Together expressed disappointment but confirmed plans to renew efforts next session, indicating a commitment to advocate for these legislative changes despite current challenges.
We see that argument trotted out over and over again to the point where everything apparently blocks new housing. Not just rent control, but just cause blocks new housing, changing the eviction process blocks new housing.
Tenants' advocates are disappointed but plan to bring the legislation back next session. We are going to come back every single year until we can change the law.
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