California recently passed new legislation pertaining to rent control, so today we’ll break down what this development means for you.
Landlords and Realtors will need to keep both local and state ordinances pertaining to rent control in mind when dealing with rental properties.It’s important to note, however, that single-family rentals (SFRs) are exempt from rent control unless the property is owned by a corporation. Duplexes, fourplexes, and other multi-unit properties are still all subject to this new rent control legislation, though, except in the cases of certain exemptions. If you own a duplex and live in one unit while renting out the other, for example, the unit you’re renting out would be exempt from rent control. The bottom line is that landlords and Realtors will need to keep both local and state ordinances pertaining to rent control in mind when dealing with rental properties. If you’d like to learn more, you can reach out to Adrian by phone at (916) 303-0133 or by visiting his brokerage’s website: www.pcgcommercial.com. And, as always, if you have any other questions for me or would like more information on this or any other topic related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.