State And Local Issues
After Santa Monica Decontrolled Rents
Removing rent controls doesn't necessarily mean hefty rent increases, as landlords in Santa Monica, Calif., are finding out.
To be sure, the California law does not completely end rent control. Rents cannot be raised on apartments which are occupied -- only on those which are vacated. This quirk in the law has led to reports by tenants of controlled apartments that they are being harassed by landlords who would like to see them move.
Many would-be renters are searching in nearby areas for apartments. Much of Santa Monica was developed some 50 years ago and is said to be falling apart. Rent controls no doubt played a hand in that.
Source: Stacy Kravetz, "In Santa Monica, Rent Decontrol Brings Surprises," Wall Street Journal, April 28, 1999.
For more on Rent Control http://www.ncpa.org/pd/state/state4.html
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