The Casa Grande Apartments in Anaheim were aging fast. The 48-year-old complex needed a new roof, plumbing work and a few minor but costly upgrades.
The owners for years had put off monthly rent hikes greater than $40. And now, their adviser was suggesting they move fast and hike their below-market rents as much as 60 percent.
If they didn’t act quickly, the adviser said, they could get hit by one of several rent control proposals circulating in Sacramento or at Anaheim City Hall.