Does anyone really think that legislating state-wide rent control, while also making it more difficult to evict troublesome tenants, will make investment in California’s rental market more attractive?
If Californians want more affordable housing, then they should make it more attractive for developers. This means reducing – not increasing – risk. Ease the permitting process, reduce development fees, eliminate the requirement for below market rate units, and strengthen protections for landlords. This will spur development, which will eventually lead to a glut of rental units and a corresponding reduction in rents. Rent control and eviction restrictions will do the opposite.