Local Rent Control Initiative; Repeals state law that currently restricts the scope of rent-control policies that cities and other local jurisdictions may impose and allows policies that would limit rental rates that residential-property owners may charge new tenants, new construction and single-family homes.
The Libertarian Party of California recommends a “No” vote on Proposition 10.
Rent Control deters the development of new rental units and instead incentivizes developers to build condos which are out of reach for most moderate to low income Californians. And although rent control offers savings to current renters, it also reduces landlords’ incentives to maintain their properties. In many areas with strict rent regulations, these restrictions can contribute to neighborhood decline.