Home Buying in Berkeley>Question Details

Women Of The…, Home Buyer in Napa, CA

Is Berkeley would be really hard to by a house to rent without being scared of the rental control laws that could easily rune my investment ?

Asked by Women Of The Past, Napa, CA Wed Apr 24, 2013

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By the way, you may also want to explore and perhaps join this group

Berkeley Property Owners Association -- the Advocate for Berkeley's rental housing providers

http://bpoa.org/articles.php?pid=36&menu=8
1 vote Thank Flag Link Wed Apr 24, 2013
First, familiarize yourself with the provisions of the rent control.

This part perhaps is what you'd be curious to know about:

...when the the property is "decontrolled", the landlord can raise the rent to the market value. A residential unit becomes decontrolled when the the last tenant of the original tenancy group has moved out, voluntarily or having been evicted. When a new tenancy begins, the property is considered "re-controlled", and the rent ceilings apply once more.

Some rental units are exempt from rent ceilings:

Government housing
University housing
Units leased by the Berkeley Housing Authority, or to Section 8 tenants
Single-family residences (some exceptions)
New Construction - Rental units built after June 30, 1980 not including units created through rehabilitation or conversion

Berkeley remains as one of the most sought-after cities in terms of property values holding their own. When some investors buy, they are likely to want to have the properties delivered vacant, if it is do-able.

Don't let the rent control blind you to many other benefits of buying in Berkeley. First, find a realtor to help you. And then find the property that meets your investment criteria.

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1 vote Thank Flag Link Wed Apr 24, 2013
Really helped! Thank you. Now I have to make my home work.

Thanks so much.
Flag Wed Apr 24, 2013
This will depend on your risk and reward analysis. If you’re looking for strong cash flows, you may consider other areas. However, if you’re looking for a secure investment with steady appreciation, Berkeley’s a great place to buy. There’s always a strong demand for housing here due to the reputation of its schools, the proximity to UC Berkeley and all that the City has to offer. There are several exemptions to consider with Berkeley Rent Control laws in regards to ownership, use, property type and the date the property was first placed into rental. Please visit the Berkeley Rent Stabilation Board website.
0 votes Thank Flag Link Tue May 14, 2013
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