Important Update on Proposition 21

Written by Apartment Management Magazine on . Posted in Blog, Webinar

FREE ADMISSION – SPACE IS LIMITED!

LIVE Webcast: Thursday, August 20, 2020 1:00 PM – 2:00 PM PST

Important Update on Proposition 21

Why should you join the fight against this ill-conceived ballot proposition?  Here are just a few of the things this deeply flawed proposition will do unless we defeat it in November:

• Eliminates Costa-Hawkins protections on almost all housing units – YOU won’t be able to increase rent to going market rates if this initiative passes, single-family homes and condominiums could be subject to rent control.

• Authorizes cities or counties to enact vacancy control – YOU could only increase rent on vacant units by 15% over 3-years following vacancy and then fall under local rent caps.

• Allows regulation of single-family homes and condominiums – if you own more than 2 properties, your rental property becomes regulated.

• Decimate property values – Similar laws passed in New York State caused values of rental properties to drop 30% to 40% IMMEDIATELY.

• Reduce housing supply by forcing rental property owners out of business.
Gives unelected bureaucrats unlimited power to add fees on housing – hundreds of rent control boards will “spring up” across California.

• Add tens of millions in new costs to local governments to administer local rent regulations – YOU will pay for these increased costs through additional fees and taxes.

• All properties older than 15 years will be subject to local rent control laws and lower rent caps – A.B. 1482 would be cancelled.

• Makes California’s housing crisis EVEN WORSE!

LEARN WHAT YOU CAN DO TO HELP TO DEFEAT THIS LATEST ATTACK ON RENTAL HOUSING.  WE DID IT IN 2018, WE CAN DO IT AGAIN IN 2020. 

Please, register today for this important webinar.

GUEST SPEAKER: Anthony Russo, Partner, Russo McGarty & Associates

Anthony Russo, a partner at Russo McGarty & Associates, has a 26-year track record in government relations, political strategy and public policy. He specializes in providing strategic consulting to major corporations, professional associations, and initiative campaigns. Anthony previously was Group Senior Vice President of Corporate Affairs for the Irvine Company, one of the nation’s largest private real estate companies, where he had responsibility for government affairs, political action, branding and communications.  Anthony participated in several successful political efforts including the opposition to the Proposition 10 ballot initiative in November 2018.  Anthony graduated Phi Beta Kappa from the University of Southern California with a master’s degree in public administration and a bachelor’s degree in political science.

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