The new law will make rental housing in California more affordable

The new law will make rental housing in California more affordable

Rental housing — one of the most pressing problems for Californians, do not have their own roof over their head. Due to the exorbitantly high prices they are forced to give homeowners the lion’s share of their income. Especially sharply this question costs to the residents of Los Angeles, which ranks second in the ranking of the most expensive for tenants cities.

According Appartment list, last year alone, prices for rented apartments in the City of angels has grown at a staggering 4.5%, reaching an average of $1 350 for a Studio apartment and $1, 740 for a one bedroom, which is much higher than the national average.

The new law will make rental housing in California more affordable

In many ways, this situation stems from a lack of constraints on the growth of prices by the authorities. More than 20 years, the state maintains the act the Costa-Hawkins, which prohibits to control the cost of renting in buildings built after 1995.

The leaders of organizations to protect the rights of tenants, headed by the President of AIDS Healthcare Foundation Michael Weinstein has decided to put an end to the tyranny of the landlords. On Monday, they put forward a legislative initiative, involving the abolition of the act the Costa-Hawkins.

If their proposed affordable housing Act will enter into force, the authorities of districts and cities will have the right at its discretion to set the pricing of the market rental property, regardless of when it was built.

The legislative initiative was submitted to the office of the attorney General of California. In case of approval, the sponsors will have to collect 365 880 signatures to bring the issue to a popular vote.

As expected, the Act affordable housing there are enemies in the homeowners and property developers — they are convinced that the introduction of price controls could lead to a decline in construction and, therefore, exacerbate the housing crisis.

 

 

 

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