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All Forum Posts by: Susan O.

Susan O. has started 69 posts and replied 547 times.

Post: San Francisco Meet Ups

Susan O.Posted
  • Fresno, CA
  • Posts 552
  • Votes 181

We need to get the word out at meet up groups for investors, property owners and landlords!

Post: San Francisco Meet Ups

Susan O.Posted
  • Fresno, CA
  • Posts 552
  • Votes 181
Originally posted by @Johnson H.:

Hi Tom,

Welcome to BP. I use to run a SF meetup but @J. Martin found an excellent space in downtown SF so I leave that up to him while I continue one down in Milpitas. Lots of great meetups can be found at meetup.com and mines is in my signature link below.

http://www.dailynews.com/government-and-politics/2...

Tom and others please bring up the New AB 1506 bill to dramtically increase rent control in cities.

Amid California’s housing crisis, several state lawmakers want to give cities the right to dramatically increase rent control , including imposing and expand the kind of strict limits that exist in SF, LA Santa Monica and West Hollywood but have been barred since the 1990s. A bill that would do so marks the most significant move yet in a growing movement to cap rents and control private property

This is what current people are thinking --they want to take over rights of property owners:

http://48hills.org/2017/04/03/two-ways-eviction-cr...

Post: San Francisco

Susan O.Posted
  • Fresno, CA
  • Posts 552
  • Votes 181

Problem is Rent control is coming hard.  There's a big wave for it

http://48hills.org/2017/04/03/two-ways-eviction-cr...

Look what these people think. It's all entitlement like they deserve to live free at the cost of private property owners...

http://newbostonpost.com/2016/03/21/just-cause-evi...

Just-cause eviction: Rent control by another name

By| March 21, 2016, 11:36 EST

In a 1994 statewide referendum, Massachusetts voters chose to ban rent control in the Bay State; but a new proposal currently before the Boston City Council threatens to re-impose the outlawed practice through the back door.

Now they're trying to push for it hard through the state.

Rent control is horrible for economies and communities- it brings on blight, and less housing for renters.

Originally posted by @Ned Carey:

@Russell Brazil I rent to section 8 but I do not think it is at all appropriate for the government to require it.

Many landlords feel the extra work required to deal with section 8 is not worth it. They should not be required to make a bad business decision because of some perceived unfair discrimination.

This law is incredibly and deliberately deceptive. Everyone in the legislature and in the industry knows this is about whether a landlord accepts section 8 or not. Yet the legislature is not honest enough to say that outright.

@Account Closed 

Really, you believe that? This is part of fair housing law. People go to jail over fair housing violations. Fair housing law has a history of being applied in a totally radical ways that are not in the law. A great example of that is the dept of housing saying that you cannot discriminate on the basis that a person is a felon.

That's terrible news that this can be pushed onto private property.  Isn't that what the forefathers fought so hard for against an oppressive government....

This is ridiculous.

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

It is so bad for housing and local economies

Post: Contact Your Legislator: Continue Rent Control Ban

Susan O.Posted
  • Fresno, CA
  • Posts 552
  • Votes 181
Originally posted by @Matthew Olszak:

The bill is scheduled for a March 15 hearing in the committee, now with 5 co-sponsors. If you haven't already, click the link above to contact your legislator and tell them NO. If you have time, try to contact at least 1 of the following bill co-sponsors and tell them you DON'T agree:

Rep. Will Guzzardi

Matthew you are absolutely correct I hope it's went well up there in Illinois.

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

Rent control ruins local economies, creates slum cities, ruins housing for tenants and landlords, ruins home owners value. It's bad for any community

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

Post: Rent Control Strategies

Susan O.Posted
  • Fresno, CA
  • Posts 552
  • Votes 181

http://www.latimes.com/business/la-fi-tenant-buyouts-20160919-snap-story.html

Post: Rent Control Strategies

Susan O.Posted
  • Fresno, CA
  • Posts 552
  • Votes 181
Originally posted by @Matt Mason:
Originally posted by @Susan O.:
Originally posted by @Matt Mason:
Originally posted by @Susan O.:

Youre actually not allowed to do cash for keys in cities like LA. Possibly in other cities. 

http://www.laweekly.com/news/la-moves-to-curb-cash...

They cracked down on landlords  even offering as much as $75,000 to tenants to leave! it's like having to bribe someone even though it's YOUR property

Also if you want to be an owner occupier in LA you have to pay up to $22k in relocation fees.

If you try to give cash for keys you can get fined and open a lawsuit in a lot of cities with rent control.  it's illegal under rent control rules.

http://hcidla.lacity.org/Relocation-Assistance up to $23k/ family for relocating older tenants

Yes, you can do cash for keys in Los Angeles.  Not sure if you read your article, but it just discusses the fact that the cash for keys transaction has to be recorded with the City. 

 They actually don't let you raise it to market rents during a pay out or reloacation.  So you can pay them out to use the ellis act and change the use, but you can't raise the rents for the existing units.

I've paid out a tenant $23,000 then I was not able to raise the rents.  I had to keep the rents at the current rate based on the previous tenant.

https://caanet.org/rentcontrol/

http://hcidla.lacity.org/rso-overview

If the tenant agrees to a payment and agreement to vacate their unit you can charge whatever you want on the re lease.  If you are talking about Ellis Act or moving in as an owner then that would not apply as there are additional rules regarding that.

I know several people that buy out tenants, renovate the units and re lease at market rates in LA.  It is done all the time.

Is that what was in the news when someone mention someone getting paid $80,000 for just one unit to move

http://www.sfexaminer.com/landlords-demand-fewer-r...

Originally posted by @Amit M.:

I agree, these tenant activist movements could spell real trouble, especially for small California landlords! All CA landlords should seek out and join their local landlord advocacy associations. In San Francisco there is SPOSFI, which is only $75/year and includes a very good monthly newsletter. These groups help organize opposition to local and state legislation unfriendly to property owners. 

Right now there is an effort to overturn Costa-Hawkins at the state level. This important ruling basically outlawed rent control on SFHs and condos, as well as new construction (bldgs after 1979 in SF, other years in other cities) as well as vacancy control (meaning that you can't raise the rent to market EVEN AFTER a tenant vacates- permanent low rent- a total disaster!)  Although I am hearing that this probably won't pass, if it does we are royally screwed!

Keep in mind that tenant activists go wild when rents sky rocket, which has led to all these new initiatives. A recession, while bad for landlords in general, at least has the side effect of quelling the activists!  (Hard to justify politically when vacancies are up, and rents are down.)  So, at least there is that to look forward to...sort of ;)

Thanks a lot Amit for the info.

I love SF I used to own there.

http://www.sfexaminer.com/landlords-demand-fewer-r...

Post: Rent Control in Illinois?

Susan O.Posted
  • Fresno, CA
  • Posts 552
  • Votes 181
Originally posted by @Rachel H.:

Thanks for keeping us updated @Ken Rishel. I know rent control is a big issue in coastal states especially CA. 

Thanks Ken yes Rachel but it's expanding

https://www.forbes.com/sites/scottbeyer/2015/04/24...

Heres news:

http://www.sfexaminer.com/landlords-demand-fewer-r...

They're trying to expand it in California with AB 1506 and repealing Costa Hawkins.... this is a domino waiting to happen when housing prices get high rent control gets on agenda so politicians can get short term votes.  Rent control destroys cities especially the poor areas of cities that need revitalization. 

Theyre trying to allow expansion to SFRs in California with AB 1506

I've heard in grapevine that this is why Blackstone and some institutional investors got out of SFR investing in California they already knew there were talks about repealing Costa Hawkins

AB 1506 will affect every home owner in California and hurt cities