Multiple new laws went into effect in the past month in California that are meant to protect tenants. But some landlords say the state has become too restrictive for them, and they’re taking their business elsewhere.
“The rules are getting harder and harder here to comply with, and our long-term prospects are looking worse and worse,” said Michael D. Pierce, president and co-founder of Prodesse Property Group, which manages residential properties throughout the San Francisco Bay Area. “It makes it harder for us to manage our assets and do it in an intelligent way.”
