What is AB 1482 in California? What is Rent Control? I discuss the status of the assembly bill and how it affects renters in the State of California.
#RealEstate #RealEstateMarket #HousingMarket
Subscribe for More Real Estate Tips and Real Estate Information – https://goo.gl/NZB1S6
As of yesterday, September 11th 2019, the State Assembly of California approved Assembly Bill 1482 which if signed by Governor Gavin Newsome would bar landlords from hiking rents more than 5 percent, plus local inflation , in one year. This means that California is on the verge of having statewide rent control. Gov. Newsome has said they he will sign the bill which will go into effect on Jan. 1st through year 2030.
This will affect cities that don’t have rent control bills and also expand rent control in those that do. The bill is designed to keep renters in their homes after rents have risen so much in recent years along with help prevent “rent gauging” which has been a big problem in some areas.
While this measure will likely help renters it will also stymie construction of new housing which we definitely need more of especially with our already low inventory in most areas. Keep in mind the bill does not apply to buildings that opened in the last 15 years and it would exempt Single Family Homes unless they’re owned by a corporation and duplexes where the owner lives in one of the units.
If you have additional questions about Real Estate or Real Estate Investing, please feel free to contact me by commenting below or by contacting me directly.
Connect with me:
Other videos you might find helpful:
Is NOW a Good Time to BUY or SELL? September 2019 Real Estate Market Report – https://youtu.be/nFSZaVURRjY
When is the BEST time to BUY a House? https://youtu.be/-SahLWsC3ak
Is the Real Estate Market Crashing? – https://youtu.be/le_F5MYCwZ0
1st Step in the Home Buying Process – https://youtu.be/tMQap-MV5_I
Appraisal vs Home Inspection – What’s the Difference? – https://youtu.be/cwjokWbr1Go
What is Capital Gains Tax on Real Estate? https://youtu.be/zLdpRNPbT3s