SB-9 was recently passed in CA. The Press Enterprise says, "It allows property owners to split a single-family lot into two lots and place up to two units on each, creating the potential for up to four housing units on certain properties that are currently limited to single-family houses" (More details).
California does have a shortage of homes, but is this good solution? I see it two ways. One, if you are a homeowner with a sizable lot, this could be a chance for you to split the lot and add up to four units to it. Rent three units out and live in the fourth unit. There is a restriction for the property owner to live in one of the units for three years. In three years, you could have four rentals. It could lead to a real increase in your property value, as well as, an opportunity for high current income.
I also see this from the vantage point of a homeowner. If I purchase a single family unit and one of my neighbors (or more than one) subdivides their property and adds four units, I think I am unhappy. Worse, if it affects the value of my home in a negative way, then I have very little recourse. It seems, to me, that politicians are stepping on the rights of one type of property owner to solve our state's lack of housing problem.
In Ryan Lunquist's blog, Goodbye Single Family Zoning, he says, "In closing, this change in zoning is certainly unconventional and even scary to many, but the impact is still to be determined. My advice? Let's be objective about the issues, listen, embrace the facts, and avoid sensationalism."
Estimates are that this will affect about 5.4% of existing single family home lots across California. It seems like an arbitrary number to me. What are your thoughts? Is it an opportunity for current homeowners? Or will it affect neighborhoods in a negative way? Is this a property owner right's issue that will end up in court? Will it make a difference? If there are unforeseen or unintended consequences, will there be any recourse for the affected property owners?
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