How Rent Control Is Reshaping Multifamily Investing in 2026

In this episode of The Business of Real Estate, Lucas and Luna unpack how rent control policies are fundamentally altering the math for multifamily investors in 2026. They focus on the specific case of California's AB 1482 extension and its ripple effects on pro-forma underwriting, cap rates, and operational strategies. Lucas explains why stabilized assets with existing rent rolls are suddenly trading at premiums, while value-add plays with vacancy decontrol are seeing sharp investor pushback. Luna brings in data from a recent Berkeley study showing that rent-controlled buildings in Los Angeles have seen 12 percent lower maintenance spending per unit, challenging the landlord narrative. The hosts also explore how institutional capital is pivoting to build-to-rent and single-family rentals as alternatives. A concrete episode for anyone underwriting multifamily in regulated markets. #RentControl #MultifamilyInvesting #CaliforniaAB1482 #ProFormaUnderwriting #CapRates #ValueAdd #BuildToRent #SingleFamilyRental #BerkeleyStudy #LosAngeles #RealEstateInvesting #AffordableHousing #VacancyDecontrol #InstitutionalCapital #Business #RealEstate #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo