As always, we are beyond grateful for your assistance and passion for private property rights. Although these were tough battles, we were able to defeat five bills because of our collective efforts as REALTORS®.
Together, we successfully defeated four rent control bills:
– AB 2050 (Lee and Carrillo), a bill attacking the rights of property owners by dismantling the Ellis Act and proposing to force owners to stay in the rental housing business for at least five years;
– AB 2469 (Wicks), which would have instituted a mandatory statewide registry forcing rental housing owners to annually record and submit proprietary business information or lose their property rights;
– AB 2710 (Kalra), a bill proposing to stop rental housing providers seeking to sell their property to first start a year-long process before going to market; and,
– AB 2713 (Wicks, Bloom, and Grayson), which would have placed additional restrictions on how property owners can use their property under the Ellis Act.
At the same time, with the help of our members, we defeated AB 1771 (Ward), which was an egregious attack on property rights proposing to apply a 25% tax on gains from the sale of a home when the home was sold within the first three years of purchase.
There is a contingent of advocates who are intent on destroying the Ellis Act and weakening private property rights overall, but C.A.R. will remain vigilant to protect our private property rights and instead champion proposals that create homeownership opportunities that generate intergenerational wealth.
We thank you again for your emails, calls, social media posts, and overall support towards defeating these five bills.
If you have further questions please reach out to Rian at rian@pfar.org
