The California Association of REALTORS® has issued a Red Alert opposing AB 1482. This bill will establish a state-wide rent cap and “just-cause” evictions. C.A.R. opposes the bill because it discourages the creation of rental housing, doesn’t address the core cause of the housing affordability crisis, which is the lack of supply and impacts small property owners. A property owner can own just one condominium as a rental and be affected by this bill. As a result, small property owners may decide to pull units off the market rather than be forced to limit rents or to continuing leasing properties.
For more information or to respond to the Red Alert, click here.