SANTA BARBARA, CALIF. (KEYT) - After several lengthy meetings, the Santa Barbara City Council Tuesday is expected to formally approved a temporary rent stabilization ordinance.
The tenant protection ordinance will take effect in 30 days and will remain in effect through December 31st.
During that time city leaders will work on a permanent rent stabilization ordinance. That will include community outreach and a consultant is expected to be hired to assist with the process.
The moratorium pauses rent increases for units built before 1995, except single-family dwellings, condominiums, and certain other rentals as required by state law.
Proponents say the rent increases have gone up dramatically in the last five years and have exceeded the ability of many tenants to make ends meet. That has led to financial hardships, relying on government assistance, homelessness or relocation out of the area.
Opponents say the rent increases will reduce property values, limit investments in improvements or repairs and deter investors from developing in the city.
The council meeting begins at 2 p.m.
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