The California Apartment Association (CAA) has announced that a legislative proposal to expand rent control in the state has been halted. The bill, SB 466 by Senator Aisha Wahab (D-Hayward), aimed to modify the Costa-Hawkins Rental Housing Act which sets guidelines for local rent control ordinances. However, it failed to receive a legislative hearing before the deadline.
The proposed bill sought to broaden the scope of rent control by allowing local governments to apply it not just on apartments but also on single-family homes and condos older than 15 years. CAA played a crucial role in preventing its progress.
Accordingly, CAA stated that while SB 466 may have been stopped, challenges against Costa-Hawkins Act still persist. One such challenge is the “Justice for Renters Act,” an initiative set for fall 2024 ballot which aims at completely repealing Costa-Hawkins Act. The association urged rental property owners and industry stakeholders alike to help defeat this initiative.
This article was originally published on Connect CRE.
