At the moment, state law limits rent increases for tenants in apartments and corporate-owned single-family homes that are older than 15 years. The cap is set at 5% plus inflation, with a maximum increase of 10%.
Local jurisdictions can impose stricter caps, but with limits.
State law generally prohibits local governments from putting rent control on single-family homes, as well as apartments built after February 1, 1995. In some cases, like the city of Los Angeles, that cut-off date is even earlier.
The law allows property owners to charge whatever they want when a unit becomes vacant. Once a new tenant moves in, the limitations take effect.
If Proposition 33 passes, it would repeal the state law that bans localities from capping rent on vacant units, single-family homes and apartments built after Feb. 1, 1995 or earlier.
Local governments wouldn’t be required to regulate rents on such properties, but they could if they wanted to.
