RED Alert On AB 1482 – Urge Your Senator AND Assembly Member to Vote NO on AB 1482 that  Establishes Restrictive Rent Caps

C.A.R.

YOUR ACTION IS NEEDED NOW. TODAY STARTING AT 9:00 AM CALL BOTH YOUR SENATOR AND YOUR ASSEMBLY MEMBER TO ASK THEM TO OPPOSE THE BILL. Urge Your Senator AND Assembly Member to Vote NO on AB 1482 that Establishes Restrictive Rent Caps C.A.R. OPPOSES UNLESS AMENDED AB 1482 (Chiu), which creates a very restrictive statewide rent cap and burdensome “just cause” eviction standards. C.A.R. had reached an agreement with the sponsors and the bill’s author to make reasonable amendments to remove C.A.R.’s opposition. The consensus language would have promoted tenant protections and protected property ownership. However, because our consensus language was not incorporated into the bill, C.A.R. is opposing AB 1482. The bill could be heard in the Senate as soon as TODAY, September 9th and in the Assembly within a day of that. YOUR ACTION IS NEEDED NOW. TODAY STARTING AT 9:00 AM CALL BOTH YOUR SENATOR AND YOUR ASSEMBLY MEMBER TO ASK THEM TO OPPOSE THE BILL. Take Action NOW! 1. Call your Senator: Call 1-855-215-0152 – and enter your NRDS ID#, or PIN# from the chart below, to be connected to your senator’s office to voice your opposition to AB 1482. 2. Call your Assembly Member: 1-800-798-6593 – and enter your NRDS ID#, or PIN# from the chart below, to be connected to your Assembly Member’s office to voice your opposition to the bill. Assembly Member District PIN Number Twitter Handle Monique Limón AD37 3037 @AsmMoniqueLimon Jacqui Irwin AD44 3044 @jacquiirwin Hannah-Beth Jackson SD19 4019 @SenHannahBeth Henry Stern SD27 4027 @HenrySternCA You can use the following script for both calls:  “Hi, this is (insert your name). I’m a REALTOR® from your district. Please ask the Assembly Member to Vote No on AB 1482. The bill discourages the creation of rental housing and doesn’t address the real problem – lack of supply.” Issue Background Under current law, unless a local government has enacted rent control, there is no statewide cap on rent. Additionally, current law allows landlords to end a tenancy without cause when a lease expires. As introduced, AB 1481 and AB 1482 – previously combined into one bill, AB 1482 – would have established a rent cap of 5% plus regional CPI, as well as “just cause” evictions after 6 months of tenancy, through 2030 on all rental properties; required relocation assistance up to 3 months when a tenant is evicted under specified conditions; and included insufficient vacancy decontrol language. Per our agreement reached with the author and the sponsors, AB 1482 would have established a rent cap of 7% plus regional CPI, as well as “just cause” evictions after 12 months of tenancy, through 2023; limited relocation assistance to 1 month when a tenant is evicted under specified conditions; exempted single-family homes owned by a natural person, an LLC, or in a trust; and contained sufficient vacancy decontrol language. As proposed to be amended contrary to our agreement, the bill would revert back to its original rent cap of 5% plus regional CPI and last for a decade until 2030. Why C.A.R. is OPPOSING AB 1482 AB 1482 negatively impacts small property owners. For example, the bill does not allow for “pass throughs” for repairs, such as a broken HVAC system or leaky roof. A small property owner has no way to offset these repair costs and is unable to absorb such costs under such restrictive rent caps. As a result, small property owners may decide to their pull units off rental the market rather than be forced to limit rents to such a degree. Small property owners will also be discouraged from entering the rental market, leaving a greater concentration of ownership in the hands of large corporate entities.  AB 1482 discourages the creation of rental housing. Establishing restrictive rent caps and “just cause” eviction standards creates a disincentive for developers to build rental housing.  AB 1482 doesn’t address the core cause of the housing affordability crisis, which is the lack of supply. As other legislation designed to increase the housing supply languishes in the Legislature, AB 1482 not only doesn’t increase the supply, it discourages the provision of rental housing. AB 1482 does NOT prevent local jurisdictions from enacting rent control, contrary to what others are saying.   FOR MORE INFORMATION: Contact Julie Tran at [email protected].

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