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You may be tired of seeing me write about Prop 98, but the June 3 election is coming soon. Absentee ballots have already been mailed.
For fun, let’s take a look at a pro-98 letter that was recently printed in the Chron:
Editor - I urge all property owners and renters to vote Yes on Proposition 98/No on 99.
First, to all renters, please note that the most expensive rents in California are in the cities that have rent control.
Why do you think the price of purchasing property has gone down whilst rents increase? Renters, have no doubt, you are subsidizing your neighbors whose rents cannot be raised to current market value because of rent control.
I should know. I own three rental properties in San Francisco and whenever a unit becomes vacant, I boost the rent hundreds of dollars to subsidize the low rentals I cannot raise.
If rent control were eliminated, I could and would return the rent to current market, which would benefit all renters. So if you like paying your neighbors' rent, go ahead and vote the contrary, but stop complaining about high rents.
And to all property owners, grow a backbone, stand up for your rights, get proactive and support the passage of 98 and defeat 99.
Let’s look at what this absentee landlord wants us to believe:
1. Landlords really, really, really want to lower your rent. Evil tenants won’t let them.
2. It’s not that rent control has been enacted where there are already relatively high rents and low vacancy rates. It’s that somehow rent control causes higher rent.
3. Owning property should enable you to not have to obey laws voted on by the majority of citizens living in the county where you own property.
4. “Current market” rate is a concept that exists independent of the, uh, current market rate.
5. The price of purchasing property has gone down due to rent control. Wait, is she really saying that?
I’ve lived in my apartment for 14 years. When the first landlord I had sold it to the second landlord it was for about $400,000. The second landlord sold it to the third landlord a few years later for $1.2 million. That $800,000 made for collecting rent for a few years and not doing much else isn’t enough? Forgive me if I can’t feel much pity for the landlords speculating on San Francisco property.
As for the concept of rent control* making rent high, according to a NY Times article, in the four years after rent control was fully ended in Boston, the Mayor’s office reported that rents (on two-bedroom apartments) had risen 75%. That seems a more likely motive for why all the landlord money is coming into this campaign than the idea that landlords want to lower rents.
Please Californians. Vote no on 98. Tell your friends. Post about it. Write letters to the editors. Talk to your neighbors.
There’s a benefit for the no on 98 campaign at the Makeout Room this Saturday. I’ll be at work, but the reading will be awesome and I hear there are t-shirts free with donations.
*There also seems to be some misunderstanding, at least among internet libertarians in certain LJ communities, about what rent control in California really is. It differs from county to county somewhat, but basically it controls the amount the landlord can raise your rent every year after you sign an initial lease. There is no vacancy control legal in California, so while units will be covered every time a new leaseholder moves in, those units go to “market rate” and the increases are controlled from that new amount. One big advantage to tenants and to the communities they live in, (and thanks to![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
fightingwords for pointing this out elsewhere), is that it means that in places where there is rent control, landlords have to have “just cause” (landlord moving in, non-payment of rent, illegal activity, damage etc.) to evict folks rather than just tripling their rent and making them move away.
For fun, let’s take a look at a pro-98 letter that was recently printed in the Chron:
Editor - I urge all property owners and renters to vote Yes on Proposition 98/No on 99.
First, to all renters, please note that the most expensive rents in California are in the cities that have rent control.
Why do you think the price of purchasing property has gone down whilst rents increase? Renters, have no doubt, you are subsidizing your neighbors whose rents cannot be raised to current market value because of rent control.
I should know. I own three rental properties in San Francisco and whenever a unit becomes vacant, I boost the rent hundreds of dollars to subsidize the low rentals I cannot raise.
If rent control were eliminated, I could and would return the rent to current market, which would benefit all renters. So if you like paying your neighbors' rent, go ahead and vote the contrary, but stop complaining about high rents.
And to all property owners, grow a backbone, stand up for your rights, get proactive and support the passage of 98 and defeat 99.
Let’s look at what this absentee landlord wants us to believe:
1. Landlords really, really, really want to lower your rent. Evil tenants won’t let them.
2. It’s not that rent control has been enacted where there are already relatively high rents and low vacancy rates. It’s that somehow rent control causes higher rent.
3. Owning property should enable you to not have to obey laws voted on by the majority of citizens living in the county where you own property.
4. “Current market” rate is a concept that exists independent of the, uh, current market rate.
5. The price of purchasing property has gone down due to rent control. Wait, is she really saying that?
I’ve lived in my apartment for 14 years. When the first landlord I had sold it to the second landlord it was for about $400,000. The second landlord sold it to the third landlord a few years later for $1.2 million. That $800,000 made for collecting rent for a few years and not doing much else isn’t enough? Forgive me if I can’t feel much pity for the landlords speculating on San Francisco property.
As for the concept of rent control* making rent high, according to a NY Times article, in the four years after rent control was fully ended in Boston, the Mayor’s office reported that rents (on two-bedroom apartments) had risen 75%. That seems a more likely motive for why all the landlord money is coming into this campaign than the idea that landlords want to lower rents.
Please Californians. Vote no on 98. Tell your friends. Post about it. Write letters to the editors. Talk to your neighbors.
There’s a benefit for the no on 98 campaign at the Makeout Room this Saturday. I’ll be at work, but the reading will be awesome and I hear there are t-shirts free with donations.
*There also seems to be some misunderstanding, at least among internet libertarians in certain LJ communities, about what rent control in California really is. It differs from county to county somewhat, but basically it controls the amount the landlord can raise your rent every year after you sign an initial lease. There is no vacancy control legal in California, so while units will be covered every time a new leaseholder moves in, those units go to “market rate” and the increases are controlled from that new amount. One big advantage to tenants and to the communities they live in, (and thanks to
fightingwords for pointing this out elsewhere), is that it means that in places where there is rent control, landlords have to have “just cause” (landlord moving in, non-payment of rent, illegal activity, damage etc.) to evict folks rather than just tripling their rent and making them move away.
