Quote:
Originally Posted by tabs
You raise rent by 25% the state gets 25% of that raise in rents.
Did you ever hear of RENT CONTROL? Ala Santa Monica...I worked with a guy that had 25 unit on the beach in Santa Monica and he was always complaining..ABOUT RENT CONTROL and the Queen of Santa Monica Jane Fonda...
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Yes sure, I have heard of rent control. I'm not a CA landlord, so I've no clue if it is uniform across the state. However, looking cursory at Santa Monica, it appears there is provision to factor in recouping certain expenses and thus factor into what is the max allowable rent. They fall under surcharges. For example certain parts of appraised property tax are allowable surcharges. Perhaps the 25% excise would be an allowable surcharge.