LOS ANGELES, Sept. 11, 2019 /PRNewswire/ -- The
CALIFORNIA ASSOCIATION OF
REALTORS® (C.A.R.) today issued the following
statement from Association President Jared
Martin regarding Assembly Bill 1482:
"The CALIFORNIA ASSOCIATION OF
REALTORS® is disappointed by the passage of Assembly Bill 1482,
which moves California toward
statewide rent control. Throughout the debate, REALTORS® advocated
for a balanced solution that protected renters and respected the
rights of property owners. While several of our recommendations
were included in AB 1482, including the exemption of single-family
homes and condominiums, the final bill did not do enough to
increase the supply of affordable rental housing. Even legislators
who voted yes did so acknowledging its shortcomings.
It was disappointing that the California Apartment Association
and the California Business Roundtable did not stand with us. In
fact, the Apartment Association opposed an earlier version of the
bill with a higher rent cap and a shorter sunset date and then
withdrew their opposition when the bill was amended to lower the
rent cap and extend the sunset date, contrary to the interest of
their members. Only C.A.R. advocated for small "mom and pop"
investors by successfully obtaining an exemption for single-family
homes and condominiums.
In the final days, REALTORS® stood firm and made our case
against AB 1482 based solely on its policy. Although we did not
prevail, we remain steadfast in our commitment to overcome
California's historic housing
supply and affordability crisis. Much more work remains ahead of
us, and as we have said from the beginning, REALTORS® appreciate
the commitment of Gov. Gavin Newsom,
Democrats and Republicans to continue working to incentivize the
production of new housing for rental and sale. We look forward to
working with the Newsom administration and California Legislature
to fight for homeownership because providing housing is critical to
Californians."
Leading the way... ® in California real estate for more than 110
years, the CALIFORNIA ASSOCIATION
OF REALTORS® (www.car.org) is one of the largest state trade
organizations in the United
States, with more than 200,000 members dedicated to the
advancement of professionalism in real estate. C.A.R. is
headquartered in Los Angeles.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/california-realtors-statement-on-rent-cap-bill-300916615.html
SOURCE CALIFORNIA ASSOCIATION
OF REALTORS