NAA/NMHC Team Up to Fight Rent Control
California is Ground Zero in what is most aptly called an existential battle for our industry. Find out how you can help.
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.
The California rental housing industry and the statewide business community have unified their efforts to defeat Proposition 10 in the November general election. They have organized individual committees because of its enormous negative impacts to the California real estate and business communities, as well as to the entire statewide economy. They are working closely together and coordinating one overall campaign. Here are the links related to this effort: Prop 10Flaws.com and NoProp10.org.