All Forum Posts by: Susan O.

no one seems to know about it but Anyone who invests or hopes to own a home in California should be looking out for this and should be calling their local state senators all weekend because they tried assess underneath all of us this January 9 look at the below warning

Atlanta         Los Angeles

These people don't understand that rent control and rent caps and rent regulations actually end up hurting low income people.  It's those that take advantage of the system that benefit just like any messed up system like heathcare, insurance fraud, politics (don't want to get into how corrupt things are but I think we can all agree)

Anyways these "gentrification" "displacement" "eviction free"  slogans always seem like good idea but when you study the economics they're never good.  Look how terrible and how much corruption there is in the LA housing area they are tearing down rent control buildings and its lead to a lot of disruption in the free market. 

These misguided efforts by politicians (vote gaugers) end up negatively affecting communities

• Like any price control, restriction begets more restriction. If rent increases are only allowed between leases, rational landlords will not hesitate to evict bad tenants, even where under market price landlords would have more compassion for the same bad tenants. This translates to demand for further government interference on behalf of tenants, i.e., into deeper bureaucracy, more policing, and ever-more-developed landlords' search for loopholes.

• Landlords afraid of statistically-inevitable squatters will rationally prefer shorter-term renters, inadvertently discriminating against just the people rent control is ostensibly designed to help, like retirees or families with young children.

• Rent-controlled apartments cause stagnation. Tenants paying below-market prices for apartments are unlikely to move, even for higher wages or better jobs. This suppresses long-term economic growth, marginally disincentivizes the rent-controlled tenant's instinct to findanywork when unemployed, and depresses neighborhoods' development overall.

• Landlords paying more for apartments than they're able to collect in rent cannot afford to maintain or repair units. Apartments stay in disrepair for the duration of rent-controlled tenancy, until landlords can collect market prices and therefore pay plumbers, caulkers, repairmen, etc.

• Demand skyrockets for the few available apartments. Unable to respond to rising demand in the logical way--raising price--landlords impose conditions on renters, or stop responding immediately to renters' complaints because, after all, with such low vacancy levels renters have nowhere to go. This keeps relations between landlords and tenants tense and aggressive--hardly the friendly neighborhood model community-minded rent control-ers had in mind...!

• Rent control reduces landlords' incentives to rent out apartments. This means that rent control in a city keeps apartments available for rent scarce.

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Just read this and other studies/ articles on the real effects of rent control:

http://www.nmhc.org/News/The-High-Cost-of-Rent-Con...

https://cei.org/blog/rent-control-why-it-so-bad

What do you all think of these rent control and other rent regulations like capping rents and landlords abilities to earn income to pay for repairs and all the expenses of owning property?  Rent control on a surface level seems helpful and simple enough but really it  contributes to housing shortages, bubbles, and all sorts of political greed.  In the end the people who benefit from the rent control are people who are entitled and take advantage of the system.  It's never for what they try to sell you on.

Renter's day

There's a lot of political push to do rent control and expand rent control from Seattle to Chicago to New York.  From Los Angeles to Dallas to Florida.  It's crazy. 

Some of the big groups coming up.  A lot are actually trying to pit landlords and us investors against tenants.  It's sad because most landlords are just small scale investors like the ones here who are trying to make payments from mortgage, insurance, repairs, cap expenses etc.  They call us "Greedy landlords"  

http://www.tenantstogether.org/events/renters’-day...

http://homesforall.org    

If you dig deeper these groups are funded by huge large scale politicians who really want to get mass votes.

Economic rent control articles

https://fee.org/articles/the-case-against-rent-con...

https://www.economist.com/blogs/economist-explains...

        Memphis     Brooklyn     pittsburg

Note some signs being held are for socialist party and entitlement rights.

  Atlanta

Any thoughts?

http://homesforall.org/updates/rentersdayofaction-...

Socialist parties and entitlement pushers.  Rent control in Chicago.

http://homesforall.org

http://tenantstogether.org

Has anyone heard backa bout this?  I have a friend in chicago who said they had issues with a drug dealer tenant that they couldnt evict.  They finally got him out when the police raided.  Its in suburbs of Chicago but south side.   Anyways it's ironic because she bought there because she wanted to get out of NYC burbs because it's so landlord unfriendly

What do you all think of the entitlement and rent control programs being pushed?

http://homesforall.org/updates/rentersdayofaction-photoset/

 Ryan they did regarding Prop  13 and Costa Hawkins AB 1506 

There's also disclosure issues that a lot of realtors don't want to say how bad rent control is and how likely it's coming because they would then need to disclose that to all their buyers 

they had a 2000 person ralley in different cities from New York to Miami to Buffalo Baltimore DC etc

These entitlement progams don't even benefit who they claim to serve. In the long run they end up ruining housing and the only housing that can be created is luxury condos by big developers.

We are the ones funding the rent control, just cause eviction and reap movements. Property tax payers

 LAHD is trying to do New york city type rent controls and spread them throughout the county.  In NYC there are rent control regs that allow millionaires to rent 2000 sf lofts for pennies on the dollar.

Perhaps there will be less small investors...only big developers and institutional investors because of these regulations?

We are the ones funding the rent control, just cause eviction and reap movements. Property tax payers

Socialist Party at the "Renter's Power" day in Chicago

http://homesforall.org/updates/rentersdayofaction-photoset/

UPDATE this will be hitting the ballot in 2018 There's so many politicians who are putting all in on it.

Bill Tracking California:

You should also discuss the state intervension into housing and Costa Hawkins AB 1506 and this new left leaning KCET City Rising documentary!

Costa hawkins (allowing new buildings and Single family houses to be under rent control and make it universal among different

ET "public television" It's sponsored by CALIFORNIA ENDOWMENT who gets funding from California Governemnt

this is on KCET  Long Beach, Los Angeles, Oakland, Santa Ana Orange County, Bay Area are all on this.  It's very pro- Universal Rent Control.  There's $billions behind California Endowment Google them and google TenantsTogether.org if you're investing in one of these cities they're already there and whispering into the ears of the city councils that use your Property Taxes for their agenda...

This intervention by the state in Seattle is all about payin big pensions to the city workers that the politicians over promised... smh

ET "public television" It's sponsored by CALIFORNIA ENDOWMENT who gets funding from Ggovernment

this is on KCET