Here in 2024, California continues to reduce protections, increase business costs, and generally make being a landlord more difficult, for Property Owners and Property Managers. AB 12 passed,
Supreme Court May Hear A Rent Control Challenge?
Dated: November 10 2023
It may be too good to be true, but according to an article in the Apartment Owners' Association News, the Supreme Court may hear a challenge to New York's Rent Stabilization Law. Were the Supreme Court to strike down the Laws supporting Rent Stabilization in a major city like New York, it would certainly have a major impact on other cities with Rent Control, Eviction Control, and Rent Stabilization Laws. Studies have shown these laws have long term detrimental effects to Landlords, Tenants, Property Managers, and Taxpayers in general. Some speculate the Supreme Court is considering hearing challenges brought by Property Owners and Property Owner Organizations, as a result of the disasterous exodus of Property Owners and Taxpayers from California. New York is in danger of suffering the same fate, as around 20% of Landlords is losing money due to overwhelming Taxes and Tenant Protection Laws. Property Owners and Property Managers in Rent Controlled cities have long dreamt of life without overwhelming numbers of laws that take away their rights to their property, and treat them like villains. If politicians are willing to learn from their mistakes, the dream could become reality.