This year, tenants’ activists within California have rallied to get rent control initiatives on the November 2018 ballot. As the deadline for ballot measures gets closer, activists in cities across the state have begun submitting their signatures for approval. While none of the proposed measures have officially made it to the ballot so far, below is an update on where California stands on their state and city-wide rent control measures.
On Tuesday the House passed a huge Senate Bill, S. 2155 (commonly referred to as the “Dodd-Frank Reform Bill”). This bill not only impacts regulations for banks, but includes changes for public housing and the big three credit bureaus. Before S. 2155 lands on the President’s desk, take some time to look over some of the following proposed changes.
A bill that would require California property owners and managers to list a “cause” or reason to evict or terminate a tenancy has been progressing at an alarming rate. Despite being introduced in February, AB 2925 is scheduled to be heard on the Assembly Floor sometime this week. We urge you to review AB 2925, and join industry experts like the California Apartment Association and CIC in opposing it.
With April showers comes new rental housing legislation. Amongst bills ranging from ‘ban the box’ employment screening procedures to rent control, legislators across the nation are anxious to reform old rental housing regulations and create new requirements. Although some multifamily bills have passed, the majority of this month’s legislative update is still on the chopping block (for better or worse). Take a look at passed, pending, and future rental housing bills nationwide and in your property’s state.
Within the past few months Washington State, Spokane, WA, and Kansas City, MO have joined the ranks of cities and states that have enacted ‘ban the box’ employment legislation. With this move, all west coast states (with some west coast cities) have ‘ban the box’ laws in place. As this legislative trend pops up in other cities and states across the U.S., keep these laws in mind as your state’s proposed bill will likely have similar terms.
The Freedom of Information Act is the cornerstone of tenant screening. Without it, property managers and landlords like yourself would be renting to tenants in the dark. With Freedom of Information Day on March 16th, take the time to celebrate, and learn how you can further protect the valuable information you rely upon when selecting applicants.
Whether you agree or disagree with ‘just cause’ eviction initiatives, it looks like it’s going to be 2018’s next legislative trend. While a few cities across the U.S. have already enacted their own ‘just cause’ ordinances, parts of the country like Philadelphia, Portland, and the State of California are debating enacting their own ‘just cause’ eviction policies. Take a look to see if your properties and business could be affected.
For the past two years rent control has been one of the top legislative trends in the multifamily housing industry. While the industry has seen both victories and losses on this front, the fight against tenant-popularized rent control bills continues. Which cities are being targeted next? If you have properties in California, Illinois, or Providence, R.I., you’ll want to look out for these rent control initiatives.
Since the housing crisis, the demand for affordable rental housing has skyrocketed as Americans have shifted from a homeownership mentality to a renter mentality. As Richard Florida from CityLab might argue, the migration from suburban homeownership to renting has been increasing since 2006. In fact, from 2006 to 2014 the number of U.S. renter households did increase by 5%. With a large percentage of the renter population concentrated in or near urban areas, some of the most major cities in the U.S. lack the necessary housing supply to meet the demand.
The demand for reasonably priced rental housing has been reaching new heights in major metros, with renter rates escalating the renter population in individual states. Cities like California, New York, and North Dakota had a renter population in 2015 that exceeded 15% of the state’s population. As rentals are often centered near urban areas, major metros (like New York, Los Angeles, Chicago, Houston and Philadelphia) have become some of the top unaffordable rental markets in America. Many cities have even issued emergency declarations due to a housing shortage. While the need for affordable rental housing is certainly an issue, rent control isn’t going to fix that.
While reviewing new talent to join your company, you’ll now have to keep in mind that bills banning the use of criminal history are joining the ranks of “ban the box” legislation as the new trend. 2018’s record with employment legislation is just beginning, but the number of 2017 salary history bills carrying over to the New Year, across multiple states, has already set the tone. Hold onto your hard hats, because it’s likely that employment legislation is going to have a bumpy ride in 2018.