Letters to the Editor 11-21-19
Rent control losers Dear ER: Writer Richard Haynes includes great details about this new law, but his assumptions are flawed [“Welcome to rent control,” ER Nov. 14, 2019]. Landlords are not winners at all. And if landlords are advised by real estate professionals, they will “catch up” to market rent quickly if they continue to raise rents 5 percent plus cost of living, every year. They need to do this every year or the value of their properties will be worth much less, based on an income analysis. Because of this new mindset, “nice” landlords who were giving their tenants a break with under-market rents will now be motivated to raise rents or risk greatly devaluing their real estate. Tenants will be big losers. As usually happens when government tries to redistribute wealth, it is likely to cause the opposite effect to the people they say they are trying to help. Greg Maffei ER News web comment Hermosa, protect renters Dear ER: I’m sure a number of Hermosa Beach renters received lease termination notices at the end of last month, the last chance landlords had to terminate leases “without cause” before a state law becomes effective Jan. 1. The new law prohibits “without cause”…
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