Last week California’s legislature passed Measure AB 1482 that imposes rent control across their vast state. Rent will not be allowed to increase by more than 5% annually plus inflation. But, this legislation did include exemptions for single family homes and condos. However, the bill did nothing to increase the supply of affordable housing. Whoops!
There was serious talk this year in our state legislature of approving a rent control bill for Colorado. Since our governor and state legislature loves the rules and laws of California I fully expect a similar bill will pass in Colorado in the next 7 months.
If this happens, this probably forces me to raise the rent every year on every tenant no matter how good of a tenant they are as I can’t afford to get behind the curve on rents.