The housing crisis has made it onto the 2020 ballot in California. Proposition 21 on your ballot this year is aimed at slowing down the rate at which rents will go up in the state.
Here's what your vote means:
- A "yes" vote supports this ballot initiative to allow local governments to enact rent control on housing that was first occupied over 15 years ago, with an exception for landlords who own no more than two homes with distinct titles or subdivided interests.
- A "no" vote opposes this ballot initiative, thereby continuing to prohibit rent control on housing that was first occupied after February 1, 1995, and housing units with distinct titles, such as single-family homes.
If passed, Prop. 21 would amend state law to allow local governments to establish rent control on any residential properties that are over 15 years old and allow localities to pass limits on annual rent increases that are different than the current statewide limit. It would also allow for rent increases in rent-controlled properties of up to 15 percent over three years at start of new tenancy (above any increase allowed by local ordinance).
Any individuals who own no more than two homes would be exempt from the new rent-control policies.
In accordance with California law, prohibits rent control from violating landlords’ right to fair financial return.
As the housing crunch in California sends housing prices sky high, one ballot proposition would try to give local governments more control on how rapidly rents can rise in any given neighborhood. In 1995, the Costa-Hawkins Rental Housing Act limited what local governments could do with rent control. Prop. 21 would change that to allow local governments to adopt rent control on housing units and require those governments to adopt rent control that allows landlords to increase rental rates by 15 percent during the first three years following a vacancy.
KFI's Kris Ankarlo spoke with both sides of the ballot initiative with his guests in this episode of Propositioned.
Guests:
Former Democratic Assemblyman Mike Gatto of LA on the No side
YES on 21 Spokesman Rene Moya
YES on 21 policy Director Suzie Shannon
Photo: Getty Images