Important Update: Proposition 33 - Rental Control Ballot Initiative

Rent Control is Back on the Ballot
Don't Miss This Important Update on Proposition 33! Supported by tenant rights groups and Michael Weinstein of the AIDS Healthcare Foundation, Proposition 33 would repeal important statewide protections from rental control under the Costa-Hawkins Rental Housing Act, which was a bi-partisan state law passed in 1995. Costa-Hawkins helps rental housing providers by allowing property owners to set rental rates following a vacancy, and exempts single family homes, condominiums, and newer construction from local rent control laws. The same special interests behind 2018's Prop. 10 and 2020's Prop. 21 are back again with the same destructive proposal. We cannot afford to lose, and cannot let this deeply flawed proposition pass. If Proposition 33 passes, it would have devastating effects on rental property owners, especially smaller "mom and pop" owners. It would result in foreclosures and fire sales of rental properties due to the inability to raise rents to market level for new tenants.

PLEASE JOIN US FOR THIS IMPORTANT WEBINAR that will update you on the efforts to defeat Proposition 33. Michael Weinstein and the AIDS Healthcare Foundation want to empower local jurisdictions to impose harsh forms of rent control. Be sure to join us and help spread the word to Vote NO on Proposition 33. During this webinar, we will discuss initial polling results, major flaws in the proposition, and equip you with talking points to help defeat it. We will also cover other ballot measures up for vote this November.

Here's why you must join the fight against Proposition 33:

• Eliminates protections and exemptions under Costa-Hawkins. YOU won't be able to increase rent to market rates. New construction, single-family homes, and condos could be subject to restrictive rent control.
• Allows local vacancy control. Rents on vacant units may only increase as permitted by local jurisdictions.
• Decimates property values. Similar laws in New York dropped rental property values by 30% to 40% immediately.
• Reduces housing supply by pushing owners out of business.
• Empowers unelected bureaucrats to add housing fees. Hundreds of rent control boards may emerge across California.
• Adds tens of millions in local government costs to manage rent regulations. YOU will pay more through increased fees and taxes.
• Subjects all properties older than 15 years to local rent control. A.B. 1482 would be repealed.
• Worsens California's housing crisis. If passed, we will be forced out of the rental housing business.

After registering, participants can submit questions in advance. There will also be opportunities to ask questions live during the event. This is a member-exclusive informative webinar. Please log in to register. If you have any questions, contact Events Manager Diana Alcaraz at diana@aagla.org.

LEARN WHAT YOU CAN DO TO HELP DEFEAT THIS ATTACK ON RENTAL HOUSING PROVIDERS.
We did it in 2018 and 2020. We can do it again in 2024. Please register today for this important webinar — the most important webinar of this year!

THE INFORMATION PROVIDED DURING THIS WEBINAR IS FOR GENERAL INFORMATION PURPOSES ONLY. ABSOLUTELY NO LEGAL OR TAX ADVICE IS BEING GIVEN DURING THIS WEBINAR. BEAR IN MIND THAT EVERY SITUATION IS UNIQUE, AND THE LAWS, RULES AND REGULATIONS ARE SUBJECT TO CHANGE AT ANY TIME. SO, BEFORE ACTING, BE SURE TO OBTAIN TAX AND/OR LEGAL ADVICE FROM YOUR LICENSED PROFESSIONAL.

Seminar Leader:

Anthony Russo, Partner, Russo McGarty & Associates
Anthony Russo has a 26-year track record in government relations, political strategy, and public policy. He consults for major corporations, associations, and campaigns. Formerly the SVP of Corporate Affairs at the Irvine Company, Anthony oversaw government affairs, branding, and communications. He played a key role in defeating Proposition 10 (2018) and Proposition 21 (2020). Anthony graduated Phi Beta Kappa from USC with degrees in public administration and political science.

Moderator:

Daniel Yukelson, AAGLA Executive Director
Daniel Yukelson is a Certified Public Accountant and began his career at Ernst & Young. He served as CFO for several major companies, including Oasis West Realty and Premiere Radio Networks. He was a Beverly Hills Planning Commissioner for 6 years and currently leads AAGLA.

Webinar Registration Ticket Price:
Member Ticket: $0.00
Registration Ends: October 7, 2024