Among the California State bills that the Assembly is voting on this week are four bills related to real estate. These are AB 2050, AB 2469, AB 2710, and AB 2053. Most of these bills are aimed at protecting tenant rights, while AB 2053 is designed to create revenue-neutral affordable housing. The voting will take place on April 19th and 20th.
AB 2050 modifies the Ellis Act, which allows landlords to evict tenants in order to stop renting the property altogether. AB 2050 would require a landlord to rent out their property for at least 5 years before invoking the Ellis Act. AB 2469 establishes a mandatory statewide rental registry, which prohibits landlords from raising rents or evicting tenants without submitting information to the registry each time the lease is initiated, altered, or terminated. AB 2710 establishes Right of First Offer legislation, requiring owners of currently tenant-occupied property to offer sale to certain qualified entities, including the tenants, before accepting an offer. The seller does not need to accept an offer from qualified entities, but must give them ten days to match any accepted offer. AB 2053 establishes the California Housing Authority, which is designed to build and acquire mixed-use affordable rental housing, which would be publicly owned.