NEWS ALERT: Proposed Senate Bill 466 is an Attack on Property Rights: Take Action NOW!

Proposed Senate Bill 466 is an Attack on Property Rights: Take Action NOW!

Proposed State Bills Will Lower State Rent Limits and Target Single Family Homes

Proposed Senate Bill 466

A new hearing date has been set for Senate Bill 466 which would impose strict rent control on single-family homes, condominiums, and newly constructed apartments in California. Senate Bill 466, authored by Sen. Wahab (D-Hayward), is scheduled for hearing by the Senate Judiciary Committee on April 18, 2023, at 1:30 p.m.. The proposed bill would substantially eliminate many of the protections we have under the Costa-Hawkins Rental Housing Act, which today provides exemptions from local rent control for any type of housing built after 1995 or even earlier in cities that imposed rent control before 1995. Costa-Hawkins also exempts local rent control on single-family homes and condominiums of any age. Senate Bill 466 would eliminate these exemptions.

The Costa-Hawkins Rental Housing Act is a state law that places limitations on local rent control laws. These limitations include exempting from local rent control any residential rental properties that are single family homes, condominiums, or residential properties built after the earlier of: (i) 1995 or (ii)  after the passage of a local rent stabilization ordinance. In addition, Costa-Hawkins makes “vacancy de-control” the law in California, which is your right to establish the initial rental rate following a vacancy. Costa-Hawkins is again under attack by our state’s legislature through Senate Bill 466.

If this proposed bill and resulting changes to Costa-Hawkins are passed by the Legislature and signed by Governor Newsom, more than likely there will be further attempts to revise or eliminate Costa-Hawkins entirely. Without Costa-Hawkins, local jurisdictions could pass ordinances that eliminate “vacancy de-control” which is your right to set rent at the market when there is a vacancy.

Call to Action!

We cannot allow this proposed “chipping away” of the Costa-Hawkins Rental Housing Act. TELL OUR LEGISLATORS TO VOTE NO, OPPOSE THE PASSAGE OF SENATE BILL 466. Act NOW, act TODAY, and call and email the elected officials listed below. Senate Bill 466 will be voted on in the Senate Judiciary Committee on March 28, 2023 at 1:30 p.m. Let these Legislators know that:

• Local restrictions on rent increases for newer construction will force housing providers out of the rental housing business and only exacerbate the State’s housing shortages and lead to higher rental rates.
• Oppressive rent control measures under local regulations will discourage construction of badly needed housing developments. The State of California will never catch-up on developing new housing units and meeting demand.
• Urge a NO VOTE on Senate Bill 466. After the three years rental housing providers have been through, with challenging rent collections and moratoriums on increases, Senate Bill 466 is not the right approach to solve our State’s housing problems. Senate Bill 466 will only exasperate our housing crisis in California.

Contact These Legislators Today! Urge a NO VOTE on Senate Bill 466!

Call Into the Committee Meeting on April 18^th

If you wish to speak during the Senate Judiciary Committee Hearing on April 11^th while Senate Bill 466 is being discussed, please check the Committee's homepage the day prior to the hearing for teleconference information. The Committee’s homepage is at: [LINK]

HELP US TO GET THE WORD OUT…TELL YOUR FELLOW HOUSING PROVIDERS TO CONTACT THESE LEGISLATORS AND URGE A NO VOTE. HELP US BY SHARING THIS EMAIL WITH OTHERS!