Wolford Wayne LLP’s Post

Rent control can be like a quick fix—a short-term band-aid on the deeper issue of wages and inflation lagging far behind rising costs. While it may offer some immediate relief, it discourages developers, driving them away from California, where they can’t earn a fair return. This reduces housing supply and, in the long run, worsens the housing crisis, trapping many in long-term rentals without a path to ownership. We need sustainable solutions that address the root causes, not just temporary patches like rent control. https://lnkd.in/gKWPtedc

Big News Alert: $1.5 Billion Grant for Affordable Rentals!📢 The government's commitment to rental protection aims to tackle the housing crisis and enhance affordability. But with conflicting opinions surfacing, is this move just election propaganda or a genuine solution? Share your thoughts below! Let's dive into this debate together. 💬 . . #affordablehousing #rentalgrant #harvindersinghrealtor #remaxrealtor

Starting today, new rent hike limits are in effect across Los Angeles and Orange counties. Here's what you need to know about these changes and how they might affect you. 📈 Key Points: New Cap: Maximum rent increase is 8.9% until August 2025. Tenant Protection Act: Limits annual rent hikes to 10% for older buildings. Notice Requirements: 30-day notice for increases ≤10%, 90-day notice for increases >10%. Unincorporated Areas: 4% cap extended for rent-controlled apartments. #RentControl #housinglaws #realestatenews #RentIncrease #AffordableHousing

Voters Decide on Prop 33: Extreme Rent Control Defeated Again California voters recently chose to turn down Prop 33, a measure proposing stricter rent control across the state. This outcome reflects a preference for balanced solutions in housing policy, preserving a rental market that encourages investment and stability. The California Apartment Association notes that Prop 33’s defeat helps support a sustainable housing environment for all. Read more on what this means for California’s rental market 👉 [https://lnkd.in/gb9WY_jc] #RealEstate #CaliforniaHousing #Prop33 #HousingPolicy #RealEstateNews #nonpaymentofrent

Prop 33's defeat highlights a growing understanding that rent control may fall short of addressing the affordability crisis. This vote preserves Costa-Hawkins, reaffirming the need for innovative, supply-focused strategies that truly increase affordability and access. #HousingSolutions #AffordableLiving #RealEstatePolicy

🕵️♂️📋 Our thorough tenant screening process ensures your investments are occupied with great residents. We dive deep into backgrounds, credit histories, income verification and rental track records. And of course, we’ll always make sure the screening process complies with local and federal fair housing laws. 🏠👥 Trust our team to help you find reliable and responsible renters. Let's talk! 🤝🏢 #TenantScreening101 #ReliableRenters #LeaseWithConfidence #RentalManagement #PropertyManagement

Rent control might seem like a great way to keep rents down, but in reality, it often drives up housing costs for most people. By capping rents, it makes building new housing less profitable, which means fewer new apartments get built. When there's less housing available, competition for the remaining units goes up, and rents for non-controlled apartments rise as a result. So while some people benefit, the majority of renters end up paying more. Also worth consdiering, rent control encourages tenants to stay put for longer, which limits housing options for others trying to enter the market. And since landlords are making less money, they often cut back on optional maintenance, which can lead to a decline in the quality of housing over time. While it may seem like a quick fix, rent control can make housing even more expensive for most people in the long run. #RentControl #Landlorads #Apartments #MultifamilyHousing

Status of California Rent Control Reform It seems like year-after-year, attempts are made to reform or repeal California’s rent control regulations, namely the Costa-Hawkins Rental Housing Act (Civ. Code §§ 1954.50 et seq.) (Costa-Hawkins Act). 2024 has proven to be no different. Under its current iteration, the Costa-Hawkins Act sets parameters for the implementation of local rent control ordinances by cities and counties and prescribes statewide limits on the application of local rent control with regard to certain properties. Read more ➡️ https://conta.cc/4ebCrOT

Choosing the right location for your home is just as important as the home itself! 🏡 Here are four key factors to consider: 1️⃣ Property Taxes: Make sure you understand the local tax rates to ensure it fits your budget. 2️⃣ Neighborhood: Is the area safe, friendly, and a good match for your lifestyle? 3️⃣ School District: Even if you don't have kids, a great school district can increase your home's value. 4️⃣ Transportation: Easy access to highways, public transportation, and work can make a big difference in your daily life. Taking the time to evaluate these factors can help you find the perfect location that suits your needs. Ready to start your home search? Let's chat! #HomeBuyingTips #LocationMatters #RealEstateAdvice #DFWRealEstate #FortWorthHomes #TheSchweitzerGroup

Below is a link to an excellent Bloomberg story about the effects of rent control in the Netherlands. Rent control simply does not work to solve a housing crisis—it never has and it never will. Lesson learned, American politicians? #rentcontrol #multifamily #housingcrisis #oculusrealty #propertymanagementexperts