Join With the Apartment Association of Greater Los Angeles

To OPPOSE PROPOSITION 33: The 2024 Rent Control Ballot Initiative

Multi-million-dollar special interest groups are at it again — this time pushing their third flawed rent control initiative that will cause California’s housing crisis and cost of living to become even less affordable. The Apartment Association of Greater Los Angeles has joined the fight to OPPOSE PROPOSITION 33, the flawed measure. But we need your help!

Here’s why you should oppose the 2024 Rent Control Initiative:

• Allows regulation of and price (rent) controls on single-family homes, condominiums and new construction.
• Reduces housing supply – no one will want to build new housing when local rent “caps” are imposed on new construction. The loss of vacancy control will drive housing providers out of the rental business.
• Drives up the cost of existing housing as housing supply will never keep up with growing demand – makes the housing crisis far worse.
• Gives bureaucrats unlimited power to add fees on housing to administer and enforce rent control and tenant protection ordinances.
• Adds tens of millions in new costs to local governments for the administration and enforcement of rent control ordinances.
• Makes California’s housing crisis even worse

Nearly 60% of California Voters overwhelmingly REJECTED the nearly identical ballot measures TWICE in both 2018 (Prop. 10) and 2020 (Prop. 21). Help us to convince voters to REJECT PROPOSITION 33.

Here Are the Facts

The same special interests behind the 2018 and 2020 rent control measures are at it again — despite losing overwhelmingly with nearly 60% of voters rejecting their initiatives. Proposition 33, 2024’s Rent Control ballot measure is nearly identical to, but worse than, the 2018 and 2020 versions and will cause California’s housing crisis and cost of living to become even less affordable.

Michael Weinstein, President of the AIDS Healthcare Foundation, and his multi-million-dollar special interest group are at it again — this time pushing their third flawed initiative that will cause California’s housing crisis and cost of living to become even less affordable. This latest Weinstein initiative, which has qualified for the November 2024 ballot, undermines California’s bipartisan statewide rent control and tenant protection law (Assembly Bill 1482) passed in 2019 that has brought stability and predictability to landlords and renters — threatening to make California’s affordable housing crisis even worse. Here’s why:

• Puts Bureaucrats in Charge, Driving Up the Cost of Rent: Puts as many as 539 local rental boards in charge of rental housing, with bureaucrats deciding what people can or cannot do with their properties. This flawed initiative will give unelected local bureaucrats the power to add fees on rental housing without the voters’ approval — making rental housing even more expensive and driving up the cost of living. Even worse, it could lead to unelected local bureaucrats charging homeowners a fee for taking their homes off the rental market.
• Makes the Housing Crisis Far Worse: Discourages new construction and drives up the cost of housing, making California’s housing crisis worse. This initiative will encourage property owners to take rental properties off the market, further reducing the housing supply and making the housing crisis even worse. It will prevent critical affordable housing development by creating an inconsistent and unpredictable patchwork of local rent control ordinances — driving up rents and housing costs even higher. This will hit low-income families especially hard.
• Hurts Small Businesses and Homeowners: Allows for the regulation of single-family homes, condominiums and newer construction, and reduces property values – largely impacting small, mom-and-pop business owners who rely on properties as a source of income and retirement savings. This deeply flawed initiative allows local governments to impose rent control on apartments and privately owned single-family homes and condominiums without a vote of the people. It may even open the door to permanent price (rent) controls on private residences, including single-family homes.

Here’s an illustration of the impact Proposition 33’s passage might have on just one of your rental units that becomes vacant. Now, imagine not only the loss of income you might experience, but also the severe reduction in your property value that will result assuming a 12x to 18x gross rent multiplier. Your losses will be off the charts if Proposition 33 passes. We cannot afford to lose our right to raise rent to market after a vacancy. We cannot afford to let Proposition 33 pass.

Assumption: Tenant “A” vacates a 2 bedroom, rent controlled apartment in the Los Angeles Area where she had lived for 10-years and last paid $2,075 per month. Current market rent in the Los Angeles Area for a 2-bedroom apartment is approximately $2,800. The landlord then rents the apartment to Tenant “B.” Set forth below are the impacts of “Vacancy De-Control” vs. “Vacancy Control” on the landlord’s income for just one 2-bedroom unit over a 5-year period.

Calculate how you will be impacted at your property or properties here: Your Property De-Value Calculator.

Here’s How We Stop This!

Let’s not make California’s housing crisis far worse. Please…you can help us by contributing to our opposition campaign. Give what you can…please give generously – every dollar counts! Passage of Proposition 33 will cost you far more than the hundreds or thousands of dollars you give to our opposition efforts. 100% of funds received will be used in the fight to oppose Proposition 33.

Help us to ensure the voice of reason and common sense is heard and that your property rights and property values are preserved. We need your financial support to WIN! Give us the resources we need to defeat this ill-conceived ballot initiative! Please contribute today. Don’t delay! Mail in your contribution today using the enclosed envelope. Make your check payable to: Issues PAC of AAGLA, c/o Reed & Davidson, LLP, 515 South Figueroa Street, Suite 1110, Los Angeles, California 90071-3301; Attn. Cary Davidson, Treasurer, or contribute online at: Support AAGLA Issues PAC.