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 lease management legislation would decrease the power for landlords to extend lease as in comparison with the present legislation.
I used to be one of many mom-and-pop landlords who tried to do the correct factor and had long-term tenants. Our rents have been ridiculously low.
Throughout the COVID-19 pandemic, we went with no lease improve 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 12 months, as proudly owning it made little monetary sense.
These draconian lease management insurance policies are forcing out landlords who need to do the correct factor by their tenants and may now not afford to take action. The end result shall be rent-controlled residences in Los Angeles turning into extra outdated and in disrepair, or landlords doing unscrupulous issues to power their tenants to depart.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: Luckily, Los Angeles has lengthy been a metropolis with a lease management coverage, which is meant to make sure that residents who’ve labored and lived in a group for years or many years can stay in that group, fairly than the rented dwelling they stay in going out to the very best bidder yearly.
That mentioned, landlords do must obtain incremental lease will increase from present tenants every year to pay for escalating prices of upkeep and administration.
Current allowable annual lease will increase for residences constructed earlier than Oct. 1, 1978, have been round 3%. Nonetheless, lease will increase weren’t allowed throughout the pandemic. Because the impression of the pandemic subsided, considerably larger lease will increase of 4% have been allowed in 2024, presumably to partially offset the prior lease freeze.
An extended-term restrict of three% seems affordable, as landlords can cost larger market rents when tenants finally transfer out — so annual total lease 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 12 months or two.
Ken Hense, Los Angeles
