November 2024 Ballot: California’s Prop 33
California’s Proposition 33, set for the November 2024 ballot, proposes expanding local governments’ ability to enact rent control on residential properties. The main goal is to repeal the Costa-Hawkins Rental Housing Act, a law that currently limits how cities can implement rent control in California. Specifically, Costa-Hawkins prohibits rent control on single-family homes, condominiums, and buildings constructed after 1995. Additionally, it allows landlords to raise rents to market levels once a tenant moves out (known as vacancy decontrol).
If Proposition 33 passes, cities and counties could extend rent control to currently exempt housing types, including newer buildings, single-family homes, and condos. Local governments could also implement vacancy control, which would limit the amount rent can be increased after a tenant vacates a property.
This initiative does not automatically impose rent control across the state. It only grants local governments the authority to choose whether to expand or implement rent control policies. Some municipalities may choose to extend tenant protections, while others may not make any changes at all. The measure is being pushed by tenant advocacy groups who argue that stronger rent control could help address California’s housing affordability crisis.
Opposition to Proposition 33 primarily comes from landlords, real estate groups, and some economic analysts. They argue that rent control can discourage housing development and maintenance, reduce property values, and ultimately worsen the housing supply crisis. Major organizations like the California Association of Realtors and large property management groups have poured significant funds into campaigns to defeat the measure.
In summary, Proposition 33 is a contentious issue that brings together debates about housing affordability, tenant rights, and the potential economic impact on housing markets.
