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Prop 10 & Rent Control

Prop 10 & Rent Control

Prop 10 & Rent Control

Prop 10 & Rent Control

There is already a lot of debate surrounding Prop 10 in preparation for the November ballot. As owners and managers of rental properties, a few of which are rent-controlled, we at Keyes Real Estate are especially interested in the outcome of this vote. Prop 10 proposes to repeal the 1995 Costa-Hawkins Act, which currently restricts CA cities from imposing rent control on houses or new apartments. If passed, it would allow individual cities to potentially expand rent-control measures. Supporters of the repeal argue that rent control helps insulate people from price hikes and allows them to stay in their neighborhoods. Opponents argue that rent control actually leads to a decrease in new construction, a key driver of the state’s affordability problem. An article by Forbes provides an interesting perspective on some of the key issues surrounding the debate: Wake Up, California Millennials: Rent Control Is A Generational Con Game.