With Costa Hawkins repeal efforts gaining traction, owners currently exempted from rent control should take a hard look at whether current rents are sustainable.
Owners of single family homes, condos, and newly constructed rental properties should have a “heart to heart” discussion about raising rents to future-proof their business before expanded rent control is ushered in.
Rent increases are a delicate subject, but one worth examining.
The battle lines have been set for one of the most contentious fights about California housing in decades with Proposition 10, a ballot initiative that would repeal the Costa-Hawkins Rent Control Act and let municipalities impose rent control on single family homes, condos, and housing constructed after 1995.
With the rent control movement picking up the endorsement of the Democratic party, owners should act now by carefully and deliberately considering rent increases in the eventuality that the ballot measure passes.
Rent increases are never a trivial legal matter and are best journeyed with an attorney specializing in managing landlord-tenant relationships - contact our office for informed advice.
Don't go it alone.
Landlords cannot raise the rent without proper notice. How much notice depends on the lease type, the length and how much the proposed rent is headed north. If the increase is not in compliance with the law, you may face a costly lawsuit. With so much at stake, owners are well advised to seek counsel before meddling with the rent amount or engaging in tenant negotiations.