CAA opposes bill requiring rental property registration
The California Apartment Association is opposing a bill that would force thousands of rental housing owners across California to register their properties with the state, calling it a costly and burdensome requirement with no clear purpose.
The bill, by Assemblyman Ian Calderon, D-Whittier, would require all companies or corporations that own more than 20 residential properties with a total value of more than $10 million to register with California’s Department of Business Oversight.
Among other things, the businesses would have to provide statements disclosing the company’s number of residential properties across the state, and in each county, and the number of its properties occupied by renters.
“We believe there is no reasonable justification for the state to maintain this information,” the California Apartment Association writes in a letter opposing the legislation, AB 354.
“It is unclear why the state would take on the duty to monitor the thousands of properties and their value, as well as the offers made to buy the units, AND, charge a fee of property owners who file this information with the state.”
Calderon also proposed a bill in 2016 that would have required that owners of rental housing register properties with the Department of Business Oversight. That bill, AB 2282, would have applied to single-family rentals and required that registration take place annually.
Calderon later removed this provision from the bill, which ultimately failed passage.