COSTA HAWKINS REPEAL ALERT
Proposition 10, the Local Rent Control Initiative, is on the November Ballot. This will REPEAL Costa Hawkins. Passed in 1995, Costa-Hawkins protects home and property owners from overreaching city rent control laws. Costa-Hawkins:
- Grants the right to raise rents on vacant units to market rates.
- Exempts from rent control on any building erected after 1995
- Exempts single family homes and condominiums.
Mayor Eric Garcetti helped turn in nearly half a million of the total 600,000 signatures to get this in on the ballot. Don’t kid yourself – this is not a popular uprising of tenants. It’s a state power grab on our homes and properties that will hurt ALL OF US. And politicians are hoping to pass this behind our backs. Along with the Democrats’ push to repeal Prop 13, this will reflect a change in the covenant our state has with us – what we own will no longer be ours. We will just manage it for the state.
If passed, this initiative will be disastrous for homeowner and rental markets. It would at best help only a handful of people with artificially cheap rents, while preventing new growth or investment. But we can stop this! With your support, we can get the word out.
UPDATE 8/30/18: We just discovered AIDS Healthcare donated $10 million to passing this proposition. This is a private foundation with no transparency on their funding souces, which makes this a major campaign finance violation. I encourage everyone to file an FPPC complaint about this.