All Forum Posts by: Puri Indah

If the max increase allowed by rent control is above the inflation rate locally, what problem? You can increase rent to market when a tenant leaves.

 Have any areas removed rent control after realizing it was a stupid idea?

@Puri Indah

I think SF has the most EXPENSIVE housing in the US. ==Exactly. Rent Control takes away a lot of rent-able units because of property owners' fear of getting stuck with their rent controlled tenants. This reduces housing supply and therefore makes it very expensive.

I didn't do the research, so I'm curious.

Is every building, from 2 Units and above, is rent controlled in SF? Are there any exceptions? ==Only if they are condos or built after 1979. This is called the Costa Hawkins act, but the State of California has been trying to repeal this as well and making everything rent controlled.

What about Condos? If you invested in a Condo, are those also rent regulated if you used Condos as rentals? ==Condos can increase rent to a fair market value once lease is due, but but Landlords have no options not to renew lease, which automatically goes month to moth.

If NYC starts discussions about regulating below 5 family buildings, I am going to convert all my buildings to Condos and just sell them out. But this has not been a thought, at least not yet. ==I'd do that right away if I were you since you never know if they change the laws again (In SF this is a very difficult thing to do). But of course there is no guarantee that they will not expand rent control to condos as well.

Hm... let's see. San Francisco rent control ordinance started with large multi unit buildings, expanded to include non owner-occupied small building, expanded to owner-occupied building, even a duplex. And rent increase started with 7%, and now at .60% CPI. Bottom line is, once you hand over your rights to the government, it's just a matter of time before they take all of them away from you.