Time for the Promised Discussion
In the City of Beverly Hills, the City Council implemented a draconian and poorly thought out emergency rent control ordinance which was solidified by City council in late February. Tenant rent increases are limited to a maximum of 3% annually and requires a payment of relocation fees to tenants with the issuance of a 60-day no-cause termination notice. Additionally, Council recently directed city staff to create a rental registry of all rental units in the city. The initial cost of the program was $250,000 but we know comparable programs in other cities cost between 1-5 million dollars.
The Council has repeatedly stated that this ordinance was meant to be interim and that there would be more discussion as to possible changes to the ordinance. The Council has promised to conduct round table meetings to refine the rent control ordinance but as of this writing, no date has been set to hold these promised meetings. Housing provider concerns have not been considered. If you own property in the City, you should let the City Council and Mayor know it is time to hold the promised round table discussions! You can write to them HERE*!