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re: San Francisco is officially the most expensive rental market in the country

Posted on 3/5/15 at 6:28 pm to
Posted by Big Scrub TX
Member since Dec 2013
33577 posts
Posted on 3/5/15 at 6:28 pm to
quote:

Doesn't SF have rent control? How are prices ballooning upward if there was a cap on pricing?


What they have is artificial scarcity of affordable housing due to restrictive NIMBY type of zoning regs.
Posted by SanFranTiger
Dallas, TX
Member since Sep 2003
4906 posts
Posted on 3/5/15 at 6:40 pm to
I believe rent control applies only to multi-unit buildings of 4 or more units built before 1979.

Single family homes excluded.

And if you want to turn your apartment rental building into a condo, you have to go through an Ellis Act eviction. It will cost you upwards of tens of thousands PER TENANT to evict.

I have friends that have lived in buildings that tried to convert. They were offered upwards of $50,000 to move out. Some just simply state, "nope." And if tenants are over 65, you cannot evict them. At all.

No thank you to being a landlord in SF.
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