“Four decades ago, the NAA and NMHC came together to overturn onerous and destructive rent control policies in 35 states.
Today, for a variety of reasons, rent control is making a comeback, and California is Ground Zero in what is most aptly called an existential battle for our industry. Californians will vote this November on whether or not to undo the statewide prohibition on rent control, known as Costa-Hawkins.
The California ballot initiative, Proposition 10, would allow local municipalities to put rent caps on all rental properties – single family, multifamily and condominiums – without any restrictions. Simply translated: a city can put rent caps on new construction and limit what an owner can charge for rent forever – even after a resident moves out.”