Harrington says if an owner has maintained rents at a market rate, the property will retain current value.
SAN FRANCISCO—Last year, California joined Maryland, New Jersey, Oregon and New York as the only states with some form of rent control. While the rent control law protects roughly 8 million residents who live in rental homes and apartments from tenants from being evicted without cause, there are issues that resulted from this legislation.
In this exclusive, David Harrington, executive vice president and national director of multifamily for Matthews Real Estate Investment Services, offered insights on how the rent control law affects the value of properties that were previously not subject to any rent control law and what owners can do to maximize value in their properties.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
