Partner Andrew Starrels wrote an article for the Multifamily Executive on California's Proposition 10 initiative that would repeal the statewide Costa-Hawkins Rental Housing Act (CHRHA). The CHRHA restricted landlords to increase rent prices after a tenant left the property even if inflation or prevailing market rates were higher. This rule disincentivized landlords to maintain or upgrade their rental units and tenants were less likely to leave the properties to avoid non-rent controlled apartments. California's rental housing stock declined as the quality and rental markets suffered leading to California's most severe housing crisis in the U.S. Mr. Starrels discusses how Proposition 10 can be amended to please both landlords and tenants and improve the rental market in California.
READ: Re-Examining a Flawed Proposition 10 (Subscription Required)
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