Harringtonsays if an owner has maintained rents at a market rate, theproperty will retain current value.
SAN FRANCISCO—Last year, California joined Maryland, New Jersey,Oregon and New York as the only states with some form of rentcontrol. While the rent control law protects roughly 8 millionresidents who live in rental homes and apartments from tenants frombeing evicted without cause, there are issues that resulted fromthis legislation.
In this exclusive, David Harrington, executivevice president and national director of multifamily for MatthewsReal Estate Investment Services, offered insights on how the rentcontrol law affects the value of properties that were previouslynot subject to any rent control law and what owners can do tomaximize value in their properties.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
