http://sfist.com/2017/03/06/david_chiu_rent_contro...
Make sure to get out and vote. Also contact your local reps because this is going down.
Reach out to your local Apartment Associations, Your local brokers/ RE agents/ Property Managers etc.
They're pushing for rent control. Meaning tat you will have to pay $10-20k!!!! PER unit if you ever want to live in your own property or evict someone. Even if they are drug dealers etc.
Also they're trying to MANDATE government voucher programs-- Banning the ability to say NO to section 8. This is like socialism!
You won't be able to raise your rent more than the CPI which is at just 1.6% right now!! How are you supposed to do this when utilities, property taxes, the cost of contractors, the cost of repairs goes up each year by like 5-25%!!
The power in numbers of these overly liberal people in certain areas of the country is allowing a bunch of people to make decisions that have no business making them. It seems they really just think that what ever option sounds the fluffiest and most well to do is the best one without any consideration for the consequences or viability.
Measures have to be implemented to create fairness in communities but incentives are being taken away from the people who have the inherent ability and drive to affect change in these communities and breed progress.
I hate to see what the result will be after all incentive is gone. RE investors create so much value in cities across the country and these social just warriors who demonize them are just uninformed and ingnorant
Tenant organizations:
This group is heavily funded pushing for bureaucracy in each city in California. They are heavily funded $$$$
Anti landlord/ anti property owner group. Tenant organizations rising up all over California with big agendas backed by a lot of $$$ from organizations. They want to expand rent control for single family houses and condominiums to be under rent control and newer housing.
Long beach rent control pushers. They have agenda for creating new bureaucracies, new taxes in Long Beach and spreading to Orange County
Please contact your local apartment associations, realtors, and others in the housing industry about this!
Since California is so liberal , all those measures will probably pass .
The power in numbers of these overly liberal people in certain areas of the country is allowing a bunch of people to make decisions that have no business making them. It seems they really just think that what ever option sounds the fluffiest and most well to do is the best one without any consideration for the consequences or viability.
Measures have to be implemented to create fairness in communities but incentives are being taken away from the people who have the inherent ability and drive to affect change in these communities and breed progress.
I hate to see what the result will be after all incentive is gone. RE investors create so much value in cities across the country and these social just warriors who demonize them are just uninformed and ingnorant
The power in numbers of these overly liberal people in certain areas of the country is allowing a bunch of people to make decisions that have no business making them. It seems they really just think that what ever option sounds the fluffiest and most well to do is the best one without any consideration for the consequences or viability.
Measures have to be implemented to create fairness in communities but incentives are being taken away from the people who have the inherent ability and drive to affect change in these communities and breed progress.
I hate to see what the result will be after all incentive is gone. RE investors create so much value in cities across the country and these social just warriors who demonize them are just uninformed and ingnorant
You're right Paul. These people making these decisions-- like rent control, all these housing laws, anti-biz laws -- anti job laws. They are actually messing the economy up
http://www.pieria.co.uk/articles/rent_rent_control...
http://www.economist.com/blogs/economist-explains/...
Eventually there will be reward for being lazy/needy/entitled and there will be no economy, no rights for property investors, no jobs, and a sinking economy.
I fixed up houses in Fresno after the market crash in 2009 and all the neighbors pitched in and loved me. There were gangs all about and the gangs hated me. The neighbors and good doers loved me.
I bought up the houses that were foreclosed and empty, fixed windows and now they want to put a cap on the rents I can charge.
Even when I spend $20 on new plumbing for an apartment I can't raise the rents to market.
It's absurd. I can't afford this.
Why don't we just go back to the 2008 recession?!?!
This is spreading like wildfire in California here's in Pasadena
http://www.pasadenanow.com/main/new-pasadena-tenants-union-deliberates-over-direction/
http://www.pasadenastarnews.com/social-affairs/20161006/these-south-pasadena-tenants-want-rent-control-after-their-rents-jump-600
Hi @Susan O.,
First off, thank you for being one of the many investors that has helped restore places that were in bad condition and turn around areas where the property you worked on was at.
Are your rental properties in a rent controlled area right now (I'm guessing pasadena)?
One of the property managers I spoke with in Fresno suggested local politics there doesn't support going towards rent control anytime soon.
Hi @Susan O.,
First off, thank you for being one of the many investors that has helped restore places that were in bad condition and turn around areas where the property you worked on was at.
Are your rental properties in a rent controlled area right now (I'm guessing pasadena)?
One of the property managers I spoke with in Fresno suggested local politics there doesn't support going towards rent control anytime soon.
You're correct. But I have a lot of friends in real estate all over California, good hard working people. They wanted to invest in real estate to make something better and improve neigbhorhoods and get out of the rat race. You know, save for retirement. Some friends I know broke their stocks and retirement savings put it in real estate locally only to get burned by rent control and housing inspectors really crushing them.
I was an agent once and hustled my butt of sacrificing a lot to get what I have today.
Property owners and real estate industry is under attack. Even vendors who provide for our investment like property managers, handymen, plumbers, you name it are under attack by this. It's the hard working folk who will have to provide for all the "entitled" people.
It's like we spend so much time learning how to invest, then you buy property and sacrifice tons in time money and then they want to take it from you.
WE NEED TO GET POLITICAL!
Get active people:
Anyways here's a link to contact your local politicians:
This CAA site also has some thing you fill out your local address and it auto sends to any politicians/ reps of yours
@ryan
And here's it spreading to Fresno. Notice it's the same group TENANTS TOGETHER they are statewide but also have groups in other states. They want to spread the movement nationally:
http://rentsandrants.blogspot.com/2015_04_01_archi...
Here are some tenants protesting to take away your hard earned investments:
This is what they're protesting every day. Greedy Landlords and they want free rent!
We do have a problem that there are landlords not taking care of their places. Those people end up being the stereotype that all are painted with. There should be a process in place to address an apartment that doesn't meet minimum habitability requirements. Market forces (enough housing available) should keep places that are at the bottom quality-wise at the bottom price-wise.
I've been looking around at purchasing in Fresno and there are some pretty trashed places and under maintained buildings that owners think should command top market value. The reading I have done suggests that code enforcement is pretty lax there even when problems are reported.
I don't agree with rent control in a building at all.
There should be an avenue of enforcing things that are health / safety issues in a reasonable and fair manner.
I don't want a city to decide what a restaurant will charge for service.
I do like that there are health codes that the business must abide by.
I agree. There are standard health safety codes in the California law NOW. They are very strict, they just need to be enforced.
I've invested out of state and in many cities. LA City is one of the worst with their SCEP police. They make tons of money on administrative fines too.
http://www.laweekly.com/news/legislation-to-expand...
We need to get the word out at investor meetings, to other landlords, home owners, that we still need to maintain our PRIVATE PROPERTY RIGHTS.
It's like them coming in and telling all the tech guys in silicone valley-- hey you can't charge that amount at Amazon.com or Microsoft. You need to lower your shipping fees, or you need to cap your raises on your products to 2% a year. You are REQUIRED to sell X product( or service) for X amount to these individuals. Do you think Google, Microsoft or Amazon will keep their offices open here? They're going to move to different states.
These sorts of attacks on private property owners and investors are killing the state slowly.
Entitlement is becoming a big problem here
http://www.sacbee.com/news/business/real-estate-ne...
Sacramento.
Just look at this forum at how hard these individual investors on BiggerPockets WORK their ASSES off to improve properties. Then the government can just step in and change the law.
Blood sweat tears doesn't pay. It's better to just live for free in an apartment and get your nails done daily. It's a simpler life (sarcasm)
Why would I want to improve a rent controlled property , honestly I would do the bare minimum to keep it livable . It IS about the money .
Hi Susan,
I appreciate you informing us of this issue. I remember you made a post a while back mentioning that they want to spread rent control into Orange County as well. Since you have spent more time in the forums and researching this issue, do you know when and where they plan on passing any rent control in the OC area?
Daniel
Hi Susan,
I appreciate you informing us of this issue. I remember you made a post a while back mentioning that they want to spread rent control into Orange County as well. Since you have spent more time in the forums and researching this issue, do you know when and where they plan on passing any rent control in the OC area?
Daniel
Hi Daniel. This group
https://www.facebook.com/Equity4AllSantaAna/photos...
Is backed by the bigger group:
http://tenantstogether.org/campaigns/rent-control-...
They're getting funding, resources and media support
This was from 2014:
http://www.ocregister.com/articles/rent-630340-mea...
BUT now with rents recently going up there is a lot of talk in Huntington beach. It's mainly among millennials and some in college who haven't had real jobs yet. They get involved with grass roots groups that they think are just social rights but soon end up hearing the "Housing is a RIGHT" entitlement argument.
They haven't lived life yet and realize how hard it is to earn a $dollar.
http://www.ocregister.com/articles/rent-722020-per...
It's related to the whole Bernie Sanders movement which was HUGE.
It's about people just thinking humans DESERVE stuff. Like we DESERVE low rents. They don't know the other side to it. About the hard work and sacrifice it is to balance HUGE mortgage payments while trying to follow the 2% or 50% rules for a property or the stuff we learn here. It's so much work to get a property.
It's not easy in any sense.
http://www.ocregister.com/articles/orange-712267-r...
Article after article is about the rent raises... but nothing about the broader economic implications of rent control. And the lack of PLANNING and building that California has done to create more problems
TENANTS TOGETHER
http://www.tenantstogether.org/form-tenant-action-...
http://www.tenantstogether.org/resources/libre-lon...
This group Libre Long Beach has been in Cerritos and Huntington they have posters
https://www.facebook.com/OccupyOrangeCountyCA/
Occupy Orange County - Entitlement programs in OC
http://www.ocregister.com/articles/occupy-374559-i...
Occupy Orange County says Housing is a human right- often pushing "just cause eviction", landlord/ property owner restrictions and city fees, mandatory housing inspections in cities. But it's really just rent control
Also Legal Aid in OC makes it more difficult to evict a non paying tenants
and theres a lot of statewide laws for more protections for renters. It applies to all cities in California:
http://eastcountytoday.net/assemblymembers-introdu...
Keep informed people. I want to help as many producers--investors, landlords, realtors, etc as possible
Hi Susan,
Thanks for the info. I am not too worried about Huntington Beach because I don't have rental property in this city, but also because of all of the development that is going on here. There have, and still is, a lot of luxury apartments and development of old mall stripe being built. The rent for these luxury apartments are crazy high (less than 600 sqft studio for over $1800). If this movement starts to maybe pose some kind of threat than these developers/companies will group together to crush all of them. However, there are other areas of OC that I am more worried about. I guess we will just wait and see. Will it be real or lame like the whole CalExit talk.
Hi Daniel,
Wonder which area of OC you are worrying about................
Hi Daniel,
Wonder which area of OC you are worrying about................
Santa Ana, Garden Grove, even Seal Beach has had discussions. But Huntington had a lot of discussions and has a few active tenant advocacy groups that are pushing for 'grass roots' renters rights type groups. They are sponstored by TenantsTogether.org but are manned by student volunteers mainly.
https://mises.org/blog/rent-control-makes-good-pol...
Here's another article I was forwarded about Good Politics vs Bad Economics of Rent Control
AB 1506
http://www.eastbaytimes.com/2017/03/28/alameda-let...
Rent Control Politicians attempting to expand California STATE WIDE
Thanks for bringing this to attention. More recently I have been looking into REI and was completely unaware of this issue.
Hi Daniel,
Wonder which area of OC you are worrying about................
Santa Ana, Garden Grove, even Seal Beach has had discussions. But Huntington had a lot of discussions and has a few active tenant advocacy groups that are pushing for 'grass roots' renters rights type groups. They are sponstored by TenantsTogether.org but are manned by student volunteers mainly.
https://mises.org/blog/rent-control-makes-good-pol...
Here's another article I was forwarded about Good Politics vs Bad Economics of Rent Control
AB 1506
http://www.eastbaytimes.com/2017/03/28/alameda-let...
Rent Control Politicians attempting to expand California STATE WIDE
@Takako the Buena Park area
@Susan Thanks for the info. I am familiar with parts of the Santa Ana area, and am not surprised.
Hi Daniel,
Wonder which area of OC you are worrying about................
Santa Ana, Garden Grove, even Seal Beach has had discussions. But Huntington had a lot of discussions and has a few active tenant advocacy groups that are pushing for 'grass roots' renters rights type groups. They are sponstored by TenantsTogether.org but are manned by student volunteers mainly.
https://mises.org/blog/rent-control-makes-good-pol...
Here's another article I was forwarded about Good Politics vs Bad Economics of Rent Control
AB 1506
http://www.eastbaytimes.com/2017/03/28/alameda-let...
Rent Control Politicians attempting to expand California STATE WIDE
@Takako the Buena Park area
@Susan Thanks for the info. I am familiar with parts of the Santa Ana area, and am not surprised.
Yes Daniel heard about Buena Park having a lot of very pro 'renter's rights' people in power. They make it seem like it's the immediate solution but then it bites the whole economy in the 5-15 years.
It's the state assembly's AB 1506 (that will be voted on next year by the sacramento assembly) that will give a lot of cities power to cap rents. It will negatively affect all housing and all in the industry.
Another article from last Friday about how rent control is actually bad for poor because it reduces affordable housing. It's one of the reasons that rents in San Francisco and LA city get jacked up so much because landlords don't have a choice later to raise to market so they force rents up.
http://www.latimes.com/local/lanow/la-me-ln-housin...
LA Time city council just passed this. I would write to your local city council members. They didn't even bother discussing and it was voted unnanymously.
Doesn't allow property investors to do what they want. It's from LA Tenants Union: