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Does Anyone Win with New Rent Control Law?

On October 8, 2019, California Governor Gavin Newsom signed a bill into law that will cap rent increases throughout the State. The law provides a cap of 5% plus the increase in the local CPI (consumer price index). The bill’s lead author, David Chiu, was quoted by the Orange County Register upon the bill’s [...]

2019-10-21T16:57:31-07:00October 21st, 2019|Advocacy|

How Long Can Multifamily Financing Remain Viable?

Since commercial and multifamily lending activity hit an all-time high in 2017, the sector has upheld strong performance and consistent growth. The Mortgage Banker Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations recently reported that mortgage originations in commercial and multifamily were up 10 percent annually for the second quarter, and 29 percent from [...]

2019-10-21T16:45:07-07:00October 21st, 2019|Advocacy|

Burbank Exploring Temporary Rent Control Ordinance

The eviction letter was addressed to Giselle Martinez—and her nine-year-old son—with orders to leave by December. “It’s a punch to the gut,” says Martinez, who has lived in Burbank for 27 years. “It’s dehumanizing because when you hear eviction you think you did something wrong, but you did nothing wrong.” Click here to continue [...]

2019-10-18T14:00:17-07:00October 18th, 2019|Advocacy|

She’s 83 and Might Get Kicked out of Her Apartment. Among Her Violations: Taking Too Many Cookies.

The first indication that 83-year-old Elsie Cruey could be kicked out of her Fairfax apartment came in an email in June. The subject line read, “Notice of Lease Violation.” Within the email, in red, impossible-to-miss print, appeared this warning: “Failure to immediately comply with the required action will result in all remedies available under [...]

2019-10-18T12:47:19-07:00October 18th, 2019|Advocacy|

Will Rent Control Dent the Multifamily Market? Lenders, Investors Weigh In

Ben Lamson, the founder of Bluestar Properties, has been a real estate investor, owner and manager in the Inland Empire for three decades. But California’s march toward a landmark rent-control law served as his eviction notice. Lamson sold his $15 million portfolio of apartment buildings in a swath of Southern California that extends from [...]

2019-10-18T12:43:54-07:00October 18th, 2019|Advocacy|

With $1.4 Billion in Infrastructure Needs, La County Fire May Place Parcel Tax Before Voters

Facing $1.4 billion in necessary infrastructure upgrades, the Los Angeles County Fire Department may place a parcel tax before county voters on the March 2020 ballot. County fire can not fund its $1.4 billion in infrastructure needs, said Debra Aguirre, the department’s chief of staff. Voters last approved a parcel tax brought forth by [...]

2019-10-18T12:36:47-07:00October 18th, 2019|Advocacy|

Prospect Avenue Tenants Stunned as ‘Mass Eviction’ Looms

Multiple tenants are facing eviction from their apartment building on Prospect Avenue after receiving 60-day termination notices from a new management company — and the tenants are angry and scared. “Our neighbors are people who have recently had babies, who have their kids enrolled in our schools, who are planning weddings and retirements — [...]

2019-10-14T14:37:09-07:00October 14th, 2019|Advocacy|

California’s Race to Destroy Housing Opportunities

Progressives are, if nothing else, consistent. It doesn’t matter if something has failed to work in the past, or even crashed and burned spectacularly over and over. They will not abandon their dogmas, which make the most devout religious observers look completely rational by comparison. You think that someone who sees the face of [...]

2019-10-14T14:32:58-07:00October 14th, 2019|Advocacy|

Why Didn’t the Landlord Lobby Fight California’s New Statewide Rent Control Law?

Last week, Gavin Newsom signed one of the strongest tenant protection laws in the country. The Tenant Protection Act of 2019, written by Assemblyman David Chiu (D-San Francisco), is the biggest reform of the state’s rental-housing industry in decades. More than 2 million tenants statewide who are uncovered by local rent control laws will [...]

2019-10-14T14:34:47-07:00October 14th, 2019|Advocacy|

Toronto Drops Rent Control and Market Soars

It has become almost accepted that politicians break their promises. Whether it is to balance the budget or achieve an ambitious goal outlined in their campaign platforms, the electorate already anticipates that they will always fall short of their pledges. By now, we don’t even get angry about it – we’re immune to disappointment. [...]

2019-10-14T11:06:06-07:00October 14th, 2019|Advocacy|