Urge Your Senator to Vote NO on AB 1482
that Establishes Restrictive Rent Caps
C.A.R. OPPOSES UNLESS AMENDED AB 1482 (Chiu), which creates a very restrictive statewide rental cap and burdensome “just cause” eviction standards. C.A.R. has been negotiating with the sponsors and the bill’s author in an attempt to make reasonable amendments to remove C.A.R.’s opposition. We have offered language changing the bill to promote tenant protections and protect property ownership, a balance we have continuously strived to achieve. California tenants and property owners deserve nothing less. Because our language was not included, we will be opposing AB 1482.
The bill could be heard in the state Senate Rules Committee as soon as TODAY! Your Senator is a member of this committee and needs to hear from you NOW.
Contact Senator Bill Monning TODAY
Enter Your NRDS ID (180020949) or PIN 4017
followed by the # sign to be connected to Senator Monning’s office.
When connected, please use the following script to urge Senator Monning to vote NO on AB 1482:
“Hi, this is (insert your name). I’m a REALTOR® from your district. Please ask the Senator to Vote No on AB 1482. The bill discourages the creation of rental housing and doesn’t address the real problem – lack of supply.”
Under current law, unless a local government has enacted rent control, there is no statewide cap on rent. Additionally, current law allows landlords to end a tenancy without cause when a lease expires.
As introduced, AB 1482 would have established a rent cap of 5% plus regional CPI through 2030, provided NO exemption for single-family homes, and contained ambiguous vacancy decontrol protections. C.A.R. reached an accord with the sponsors and the author that the bill would be amended to: ensure that vacancy decontrol is properly protected; increase the cap to 7% plus regional CPI; exempt small property owners with up to 10 single-family homes; and have the bill expire in 2023.
As introduced, AB 1481 would have established “just cause” evictions after 6 months of tenancy, required property owners pay up to 3 months’ rent in relocation assistance under specified conditions, provided NO exemption for single-family homes, and lasted until 2030. C.A.R. here also reached an accord with the sponsors and the author that this bill would: only apply to tenancies after 12 months; limit relocation assistance to 1 month’s rent; exempt small property owners with up to 10 single-family homes; and expire in 2023.
AB 1482 and AB 1481 have been combined into one bill – AB 1482. However, the amendment language requested by C.A.R. has not yet been incorporated into the bill. C.A.R. remains opposed to AB 1482 until the bill is amended to appropriately balance tenant protections and private property rights.
C.A.R. has been working with the author and the proponents of AB 1482 to secure amendments that protect the small investor. While AB 1482 moves in that direction by exempting up to 10 single-family homes, the language in the bill does not exempt condominiums or those homes if they are held in a trust or in a manner that otherwise protects the homeowners’ other assets.
Many small “mom and pop” property owners rely on income from a single-family rental and most often hold those properties in a family trust or in a limited liability form of ownership. These forms of ownership are designed to protect and preserve their retirement nest egg. Current language exempting such properties does not work if it does not recognize those forms of ownership. C.A.R. continues to work with the author and the proponents to secure amendments that adequately protect small “mom and pop” property owners.
Why C.A.R. is OPPOSING AB 1482
- AB 1482 discourages the creation of rental housing. Establishing restrictive rent caps and “just cause” eviction standards creates a disincentive for developers to build rental housing.
- AB 1482 doesn’t address the core cause of the housing affordability crisis, which is the lack of supply. As other legislation designed to increase the housing supply languishes in the Legislature, AB 1482 not only doesn’t increase the supply, it discourages the provision of rental housing.
- AB 1482 dramatically 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.
- AB 1482 doesn’t exempt ALL single-family homes. Properties, even single-family homes, held in trust would also be subject to rent caps and “just cause” eviction standards.
FOR MORE INFORMATION: Contact DeAnn Kerr for more information at email@example.com.