The Richmond City Council — the first to approve rent control in California in more than three decades — has rescinded the policy in response to a signature-gathering effort spearheaded by the California Apartment Association.

“As always, CAA looks forward to working with Richmond’s city council and staff to pursue sensible measures for providing housing to residents of all income levels,” said Joshua Howard, CAA’s senior vice president of local public affairs.

The council’s unanimous vote Tuesday night came after Contra Costa County’s Elections Division certified more than 5,000 signatures collected during the CAA-led petition drive.

“We believed the council had rushed to judgment on a policy that would bring long-lasting, negative consequences for the city’s housing stock and financial stability,” said Tom Bannon, CAA’s chief executive officer. “CAA quickly launched the referendum push so that the city and community would have more time to examine the long-term impacts and unintended consequences that rent control brings.”

By qualifying the referendum, CAA left the council with two choices: rescind rent control or put it before voters.
CAA welcomes Richmond’s decision to overturn the ordinance.

The council’s vote Tuesday will spare Richmond from the perils of rent control, which not only fails to make housing more affordable — just look at San Francisco — but encourages slumlords, when property owners have neither the money or incentives to invest in their properties.

“As always, CAA looks forward to working with Richmond’s city council and staff to pursue sensible measures for providing housing to residents of all income levels,” said Joshua Howard, CAA’s senior vice president of local public affairs.

CAA recognizes the housing challenges in the region. And as job growth continues to outpace construction, demand for housing will keep growing as well. While rising demand fuels higher prices, CAA urges all property owners to use restraint when considering rent increases.

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