Bell Gardens & Pomona Added to List of Cities With Independent Rent Control Ordinances
The cities of Pomona and Bell Gardens have just passed their individual versions of rent control! Now before you dismiss this video because you don’t own in either of these two cities, my question to you is this, what happens when the city you do own in chooses to pass its own version of rent control?
Unfortunately, the inevitable is coming as more and more cities throughout the state have determined that statewide rent control is not enough, and have added additional layers of restrictions. Watch as we discuss the details of these recently passed ordinances and maybe more importantly, outline what owners outside of these jurisdictions should do NOW to prepare themselves and their properties for any change to rent control in their area.
Owning and managing multi-family properties has become extremely difficult over the past decade. Amidst these challenges I am still a proponent of multi-family investments, but am only so in light of the mentorship that I receive from my inner circle who helps me navigate the legal, financial, and day to day risk of being a landlord.