Stop exploiting property owners.
LA City does not control the cost of maintenance, yet owners are burdened with subsidizing the impacts of this COVID pandemic. They are using COVID-19 Rent Moratorium as a tool to further their agenda and exploit rental property owners. No capital improvement increases allowed. Los Angeles Mom and Pop rental properties to help big developers. Making up a crisis to redistribute wealth. Renter protections reduce the supply of afford housing. Owners must put in place stricter tenant screening policies. This kills the small (mom and pop) owners who cannot afford to ride out this made up crisis. Stand up and take back your property. The big developers are your enemies - for every new development built - 10% should be rent controlled. We must equal the playing field.
Effective March 27, 2023, Los Angeles Rental Property owners may not evict a tenant who falls behind in rent unless the tenant owes an amount higher than the Fair Market Rent (FMR). The FMR depends on the bedroom size of the rental unit. The FMR is a blank check for the City of Los Angeles. Abusing the COVID-19 Rent Moratorium - Never Let a Crisis Go to Waste. The more freedom a people have, the greater their health, wealth and prosperity; the less their freedom, the more their impoverishment, disease, and famines.
Tenants now have until August 1, 2023, to pay back rent accumulated between March 1, 2020, and September 30, 2021. Further, tenants have until February 1, 2024, to pay back rent accumulated between October 1, 2021, and January 31, 2023. No recourse for lost rents if tenant evades payment for COVID-19. Rental properties are at risk of default. There are limited apartments for rent in Los Angeles. LAHD gave free loan to tenants - at the small mom and pop owners expense. They wanted to have a redistribution of wealth. How many small businesses actually got the help? NONE.
The Los Angeles City Council adopted an ordinance on Tuesday, Feb. 7 requiring rental properties to pay relocation assistance to tenants who move out after getting rent increases of 10% or more.
Under the ordinance, if a landlord increases rent by more than 10%, or the Consumer Price Index plus 5%, the landlord must pay the tenant three times the fair market rent for relocation assistance, plus $1,411 in moving costs.
How many of us know renters whose annual income far exceeds that of the property owner from whom they are renting? This is especially true when the owners are seniors living on a fixed income and dependent on their rental income. Furthermore, with the number of renters in rent-controlled apartments (60%), far exceeding the number of individuals owning small rental properties, a minority population greatly outnumbered at the voting booth is often conveniently scapegoated for the lack of affordable housing.
Add to this mix an unintended consequence: the price new renters pay when they move into a recently vacated unit whose market-rate rent must compensate for the below-market rents paid by those occupying rent-controlled units – some for decades.
COVID-19 Rent Moratorium would not incentivize housing creation and will have a net negative impact on all rental properties. Therefore, Los Angeles Department of Housing needs to create a rent subsidy program instead of putting everything on the backs of rental property owners. Bad housing policy harms lower-income people most.
A reason economists overwhelmingly oppose rent controls is that they always have unintended consequences. Rent controls are the opposite of minimum wage laws. Where minimum wage laws are price floors, rent controls are price ceilings.
Economic theory is pretty clear about what the effects of a price ceiling will be. As Figure 1 shows, at equilibrium rents are $600, and 300 units of housing are both supplied and demanded. If you cap the rent at $400, however, you decrease the number of homes supplied to 200 and increase the number of homes demanded to 400. You now have an excess of demand over supply of 200 (demand of 400 minus supply of 200). If you were motivated by a concern for a shortage of housing, congratulations, you just made it worse. It wasn’t intended, but it was a consequence.
Your support and contributions will enable us to meet our goals and improve conditions. Your generous donation will fund our mission to protect property rights. We don't have the resources corporations have to hire lobbyist like Three6ixty and EKA (Englander Knabe Allen). Remember Mitch Englander?
Bad housing policy harms lower-income people most. Rent control makes an existing housing shortage worse. Further, it hurts the very populations it was intended to help. Landlords qualify tenants based on things like income and credit score. When market disruptors like rent control are introduced, tenant competition for what little housing remains heats up. Small businesses are squeezed out for the big corporations.
“Hard Times Make Strong Men” is a phrase that is meant to emphasize the idea of resilience and perseverance in the face of adversity. It suggests that individuals are capable of overcoming difficult situations, even if these might seem overwhelming at first. End the tyranny.
Los Angeles County COVID-19 Rent Moratorium Lawsuit Documents
Phone Contacts to Voice Your Concerns
Your support and contributions will enable us to meet our goals and improve conditions. Your generous donation will fund our mission.
Take action and stop the tyranny. America was built on freedom not confiscation. Small businesses built America. Now politicians want to erase the middle class so the large corporations can form a monopoly. It's easier for the government to control a few large corporations than 1000's of small businesses.
Voice your concerns about the COVID-19 Rent Moratorium and its impact to small rental properties.
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