Please contact your Assembly Member today and urge them to vote NO on two bills that threaten your right to sell your property, exit the rental housing market or move into your own home.
The following bills are on the Assembly Floor: AB 2050 (by Assembly Member Alex Lee, D-San Jose) and AB 2386 (by Assembly Member Richard Bloom, D-Santa Monica).
AB 2050 by Lee would require property owners to wait five years after purchasing a rental property before they can either sell the property or move in. AB 2386 by Bloom, meanwhile, would allow cities and counties to regulate the way in which owners hold property after converting from rental property to ownership property.
In rent control cities, one of the most common ways – and typically the only way – that owners can hold multifamily property after converting it from a rental property to ownership housing is as tenancy in common. Owners can then move in, along with other family members or individuals, and can each occupy a unit as their own.
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