News Alert: The “Justice for Renters Act” is Numbered as “Proposition 33”
The “Justice for Renters Act” is Numbered as “Proposition 33”
The November ballot measure misleadingly named the “Justice for Renters Act” that seeks to repeal the Costa-Hawkins Rental Housing Act’s protections for rental property owners by vastly expanding local rent control laws has been assigned a number as “Proposition 33.”
Proposition 33 is the single biggest threat to rental property owners in California by:
- Eliminating the right to increase rent to market rates upon a voluntary tenant vacancy. This right to increase rent to market rates following a vacancy is called “vacancy de-control.” Proposition 33 would allow local jurisdictions to impose limits on rent increases for new tenancies which is called “vacancy control.”
- Expanding rent control to single-family homes, condominiums, and newly constructed rental housing.
- Reducing rental income and making the ability to keep up with ever-increasing costs far more difficult.
- Reducing rental property values by as much as 40% (or more), as has been the experience in New York which has similar “vacancy control” regulations.
Here’s an illustration of how much income you may lose if “vacancy de-control” is eliminated (or “vacancy control” is imposed), or in other words, how much you may lose when your right to raise rent to market after a vacancy is eliminated:
Learn how Proposition 33 will impact the value of your property by clicking this link below:
Please…you can help us by contributing to our opposition campaign (Click button to contribute online).
Give what you can…please give generously – every dollar counts!
Passage of Proposition 33 will cost you far more than the hundreds or thousands of dollars you give to our opposition efforts. 100% of funds received will be used in the fight to oppose Proposition 33.
Help us to ensure the voice of reason and common sense is heard and that your property rights and property values are preserved. We need your financial support to WIN! Give us the resources we need to defeat this ill-conceived ballot initiative! Please contribute today>. Don’t delay!
Want to Mail in a Contribution?
Make your check payable to:
Issues PAC of AAGLA, c/o Reed & Davidson, LLP,
515 South Figueroa Street, Suite 1110,
Los Angeles, California 90071-3301;
Attn. Cary Davidson, Treasurer
