hi I'm Lis with the deini Real Estate Group if you're a rental property owner here in California you've probably heard about proposition 33 coming up on the November ballot it's a big deal for all of us landlords this could completely reshape the income property landscape in our state for almost 30 years the Costa Hawkins rental Housing Act has protected landlords like you like me by limiting the rank control cities haven't been allowed to enforce rank caps on single family homes or in apartment business built apartment buildings built after 1995 plus as a landlord you've had the freedom to say your own rental rates when bringing in your tenants but if proposition 33 passes that will change cities across California would be allowed to implement rain control on any type of housing including single family homes and newer Apartments built after 1995 this would also impact the rates you can set when a new tenant moves in right now nearly % of California renters are spending more than half their income on rent Which is higher than almost any other state except Florida and Louisiana supporters of prop 33 say the current Statewide limits on rent increases which are set at 5% plus inflation with a cap of 10% don't go far enough they believe this measure could finally change the way rank control works in California but on the other side landlord groups are pushing back we argue that strict rent control won solve the housing crisis and could have long-term negative effects on property values and the availability of rental housing as a property owner or landlord it's critical to stay informed on how the prop proposition 33 could affect your rental property Investments this November could bring significant changes and I want to make sure you are prepared if you have any questions about how Prop 13 might impact your properties feel free to reach out to me call me at 949 922 8420 or visit our website at investor pm.com or digin group.com to learn more about residential and Commercial Property Management Services I'm here to help you navigate the potential changes see you soon