To the editor: After studying your editorial on a new rent-control proposal in the city of Los Angeles, I stay satisfied that the Metropolis Council, the mayor and the Housing Division don’t get it. The editorial outlined how revisions within the hire management legislation would decrease the power for landlords to extend hire as in comparison with the present legislation.
I used to be one of many mom-and-pop landlords who tried to do the suitable factor and had long-term tenants. Our rents had been ridiculously low.
Through the COVID-19 pandemic, we went and not using a hire enhance for 4 and half years whereas inflation skyrocketed. After 80 years of proudly owning in our household, my brother and I bought the house constructing this yr, as proudly owning it made little monetary sense.
These draconian hire management insurance policies are forcing out landlords who need to do the suitable factor by their tenants and may now not afford to take action. The end result will probably be rent-controlled residences in Los Angeles changing into extra outdated and in disrepair, or landlords doing unscrupulous issues to power their tenants to depart.
Gail Feuerstein, Irvine
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To the editor: Fortuitously, Los Angeles has lengthy been a metropolis with a hire management coverage, which is meant to make sure that residents who’ve labored and lived in a neighborhood for years or many years can stay in that neighborhood, quite than the rented residence they dwell in going out to the best bidder yearly.
That stated, landlords do must obtain incremental hire will increase from current tenants annually to pay for escalating prices of upkeep and administration.
Current allowable annual hire will increase for residences constructed earlier than Oct. 1, 1978, have been round 3%. Nevertheless, hire will increase weren’t allowed through the pandemic. Because the influence of the pandemic subsided, considerably increased hire will increase of 4% had been allowed in 2024, presumably to partially offset the prior hire freeze.
An extended-term restrict of three% seems affordable, as landlords can cost increased market rents when tenants finally transfer out — so annual total hire will increase for an house advanced ought to common greater than 3%.
I might hope most traders buying residences are in it for the long run and to not make a killing in a yr or two.
Ken Hense, Los Angeles
