NAIOP has closely followed the results of the November 6, 2018 election.
In particular, NAIOP and other commercial real estate organizations and lobbyists, including CBPA and BOMA, opposed Proposition 10. Prop 10 was an initiated state statute that would have repealed the Costa-Hawkins Rental Housing Act (Costa-Hawkins), thus allowing counties and cities to adopt rent control ordinances that regulate how much landlords can charge tenants for any type of rental housing. Proposition 10 would have also stated that a local government’s rent control ordinance shall not abridge a fair rate of return for landlords. The measure was defeated with 61.64% voting “NO”.
In addition, above is a summary of the results of other propositions that were on the November ballot. Read more.