If you plan to place a single-family home on the rental market, you may want to do it before the end of this year.
Under a bill by Assemblyman Ian Calderon, areas throughout California would limit the number of single-family homes used mainly as rental properties. The bill wouldn’t affect homes intermittently available for rent.
Assemblyman Ian Calderon
Calderon, D-Whittier, frames the bill as a way to promote the “American dream of family home ownership by maintaining and, over time, increasing the market of homes that are available for purchase.”
The legislation, however, would limit the already scarce availability of rental housing in many communities, driving up prices and exacerbating affordability issues.
If approved, AB 2282 would take effect Jan. 1, 2017. It would only allow a certain percentage of the total number of single family homes in a given postal area to be used primarily as rentals. The percentage has not yet been determined.
If a given area already has more single-family rentals than allowed under the legislation, the limit would be considered met but not exceeded.
The Department of Housing and Community Development would obtain information on the number of single-family dwellings used as rental properties in postal ZIP Code areas and make that information publicly available on its Internet Web site, organized by ZIP Code area, so that buyers of single family dwellings can determine where single family homes are available and where limits on rental properties are, or may soon be, in effect.