Nov 13

There is talk of national rent control, with maximum rent increases of 3%, as well as only just cause evictions..

If your rents are below market, they could remain so forever. When it comes time to sell and you are getting $600 a month and the neighbor $800, the value of your property will be gravely diminished.

This punishes owners who allow long term tenants to remain below market. Eventually this will punish those tenants as well.

In some markets perhaps owners are evicting to gentrify, but in our market when an owner uses a 28 day no cause notice it generally means there is a behavioral problem. This will result in bad tenants staying and annoying their neighbors longer as well as more contentious relationships between owners and people that are problematic.

https://www.bisnow.com/national/news/multifamily/whats-in-aocs-national-rent-control-proposal-101041

“The economists are right, and the populists are wrong,” the Washington Post wrote in an editorial. “Rent-control laws can be good for some privileged beneficiaries, who are often not the people who really need help. But they are bad for many others.”

Specifically, the Place to Prosper Act calls for a cap of 3% or the annual U.S.. Consumer Price Index increase, whichever is greater, for rents in housing markets nationwide.

Oct 09

California rent control does a forced roll back of rents increased after the bill’s introduction.

This penalizes landlords who left long term tenants at below market rent and then raised to market at turn over, a common practice in our industry as well as a benefit to long term tenants.

From the National Law Review:

[California] AB1482 will apply to all rent increases occurring on or after March 15, 2019. In the event that an owner increased the rent by more than five percent (5%) plus the percentage change in the cost of living, between March 15, 2019, and January 1, 2020, the applicable rent on January 1, 2020, will be the rent as of March 15, 2019, plus the maximum permissible increase.

It is worth reading the full article

Sep 17

It is worth reading this entire piece

Rent Control is Missing the Point and Here’s Why

However, it seems to me that this is less about affordable housing and more about pointing fingers. We are villainizing landlords and using the homeless as political tools. We are spending all this time and money fighting over who’s to blame and attempting to hold businesses responsible for the social neglect which is the responsibility of us all, but in truth can only be addressed by the state.

It’s an easy political win to attack landlords, to say they are terrible and we need to control their evil ways, because there’s a clearly defined enemy. But this won’t help anybody.

Jul 01

Oregon to legalize duplexes on nearly every city lot – Sightline

The bill, which would also legalize fourplexes and cottage clusters in larger cities, cleared both House and Senate with wide, bipartisan majorities.

….

“We all have an affordable housing crisis in our areas,” said Rep. Jack Zika, a Redmond Republican who supported the bill before a different committee June 11. “This is not a silver bullet, but will address some of the things that all our constituents need. … We have an opportunity now for first-time homebuyers.”

The prequel up story shows the impact of legalizing four families after 39 years

When people who live in low-density areas think about re-legalizing duplexes, triplexes and fourplexes, they wonder, understandably, about what exactly might happen to their neighborhood.

Will the beautiful Victorian down the block be destroyed? Will all the nice trees be chopped down?

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