San Francisco to Seize ALL Rental Properties?! (New LAW)

San Fran Just Took Control of HUNDREDS of Thousands of Properties.. Add me on tiktok @ThisisJohnWilliams

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This new law just went into effect that allows the full control of all rental properties in San Francisco that has five or more units. This will allow tenants to strike and unionize and work against landlords in an organized fashion. This also mandates that landlords must meet with their tenants every three months to see that everything is acceptable and that the tenants are not requesting any repairs or upgrades. In addition, if the tenants feel the landlord is not cooperating the tenants can file for a rent reduction request from the rent board and the rent board can reduce the rent without the landlords consent. This will allow tenants to force landlords into hardship. The problem many landlords have in San Francisco is that high prices that they must pay to buy their properties. They may only cash flow 3-5% per year if they paid all cash for these properties and most of them do not, most finance them with large loans. This could be the end of small landlords in San Francisco.

Do you believe that a rent board should have the power to determine tenants rent on a building they do not own? To me this is seizing real estate and taking full control of someones properties and their rights as an owner.

I made this real estate prediction in San Francisco, Los Angeles, New York and other locations about eighteen months ago. I made this call as I knew that things would only progress in this direction and that landlords and investors need to play it smart or they could be in big trouble by investing in the wrong locations.