An interesting factoid with respect to rent control tenants in San Francisco from the City’s Economic Impact Report for the proposed $310 million General Obligation bond to support Affordable Housing in San Francisco which will appear on this November’s ballot: The average tenancy for a rent-controlled apartment in San Francisco is currently 9 years. The rent control on any apartment depends can also depend on where you live as different states have different housing policies, for example, if you looking at los angeles apartments, their tenancy may be less than one from somewhere like North Carolina.
The proposed bond includes $50 million to acquire existing rent-controlled buildings in the Mission and make them permanently affordable (i.e., rents would not reset to the market rate upon vacancy); $80 million for down-payment to first-time homebuyers who are public school teachers or earn less than 120 percent of the Area Median Income; $80 million for the rehabilitation of existing public housing units; and $100 million for the rehabilitation and construction of affordable housing for low income households across the city.
Funded through a property tax rate surcharge, landlords would be allowed to pass 50 percent of their tax increase through to tenants.
The full Economic Impact Report for the proposed bond and program overview: