The amended rent control bill agreed to by the Floating Homes Association and Sausalito marina owners sailed through the state Assembly and Senate with only insignificant changes and no negative votes. Last week Governor Newsom signed it into law along with several other pieces of legislation to help boost housing affordability for California families.
Congratulations to the FHA Legislative Action Committee, and particularly to LAC stalwart Anna Shimko of Main Dock, for their tireless efforts to craft legislation that is truly a win-win for both marina operators and their tenants.
The bill will go into effect January 1, 2026. The marinas and the community agreed, however, that the amendment to the Floating Home Residency Law would apply starting in July 2025.
Talia Smith, Marin County Administrative Analyst, notes that marinas will have between now and the end of the calendar year to:
- Update leases for homes sold since July 1, 2025 — to reflect the new rental rate increases outlined in the bill (however, the new rents won’t take effect until after January 1, 2026).
- Update leases for existing homeowners from 1-year terms to 10+ year terms with annual rent increases indexed to CPI, with a floor of 3% and a ceiling of 7.5% (CPI increases above 5% will be halved).
Talia sends along the following matrix showing how the amendments will take effect:
The complete bill can be read on the California Legislative Information website.