No on 33.  Expanding Rent Control Will Destroy California’s Rental Market

Proposition 33 aims to overturn the Costa-Hawkins Rental Housing Act, which limits rent control in California.  This initiative will discourage new construction, reduce rental properties, and worsen housing shortages.

California already has statewide rent control, capping increases at 5% plus inflation.  Expanding rent control distorts the market, reduces supply, and harms property rights.  It discourages investors from building new apartments and maintaining existing ones, ultimately driving up overall rent costs.

Costa-Hawkins exempts single-family homes and units built after 1995 from rent control and forbids “vacancy controls”, allowing housing providers to adjust rents to market rates after a tenant vacates.  Repealing it would let the government dictate rental prices, even if the property owners are losing money.

Proposition 33 could force housing providers to stay in a money-losing business and make it nearly impossible to evict tenants.  Supporters downplay these scenarios, but the measure could lead to a mass exodus from the rental business.

Voters should reject Proposition 33 to prevent further damage to California’s rental market.  Vote NO this November 2024.

Your apartment building could be worth a lot more than you think.  Why not find out?  We are giving FREE no obligation evaluations this month.  Just give us a call. 

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