Housing and rental prices have gone up in tandem in California.
A state bill recently introduced in the California Legislature wants to lower rental prices by overturning a 1995 law.
AB 1506, co-sponsored by Assemblymember Richard Bloom (D-Santa Monica), seeks to repeal the Costa-Hawkins Rental Housing Act. Among other things, the 22-year-old law banned rent control on residential buildings constructed after 1999, and also allows property owners of rent-controlled buildings to raise rent to market rate if the units are vacated voluntarily.
Dean Preston, executive director of Tenants Together, a statewide renters’ rights organization
Fred Sutton, director of Government Affairs at the Apartment Association of Great Los Angeles, an advocacy organization for the multifamily housing industry