Currently, state law limits rent increases for tenants of apartments and single-family homes owned by businesses that are more than 15 years old. The limit is set at 5% plus inflation, with a maximum increase of 10%.
Local jurisdictions may impose stricter limits, but with certain limitations.
State law generally prohibits local governments from imposing rent controls on single-family homes, as well as apartments built after Feb. 1, 1995. In some cases, such as the city of Los Angeles, that deadline is even earlier.
The law allows landlords to charge whatever they want when a unit becomes vacant. Once a new tenant moves in, the limitations go into effect.
If Proposition 33 passes, it would repeal state law that prohibits localities from limiting the leasing of vacant units, single-family homes and apartments built after Feb. 1, 1995, or before.
Local governments would not be required to regulate rents on such properties, but could do so if they wanted to.
