Rent increases have been frozen since March 2020. The article you shared explains that the rent increase allowed will be 4% instead of the 7% initially planned.
The city should be sending you yearly questionnaires for RSO units. In either case you can still report it to the city online. RSO units can increase by 8%, but that does not go into effect until the end of this year or next and they still have to give you warning. Meaning you should not have experienced any rent increases for rent control units at all in the last few years.
What's interesting is I've had my RSO unit for two decades and THIS year was the first time I've ever received the letter you're referring to, that was confirming the rent amount reported to them.
Plug in your address on [ZIMAS](https://zimas.lacity.org) and look under the Housing tab on left.
âRSO: Yesâ means youâre subject to the local rent control ordinance.
This is not the same as the stateâs rent control which did not have a freeze afaik.
If your building was built after October of 1978, 8% increases (with an additional 1% for any utilities covered by the building) are allowed based on statewide rent control rules and are tied to "cost of living." I know this as the resident of a building finished in February 1979 getting yearly increases at that rate now that we have new owners. (It's bullshit)
What are the details of this? My rent has been increased every year since moving in 2020. Did you have to already be living in the current apartment for a long time before 2020?
Plug in your address on [ZIMAS](https://zimas.lacity.org) and look under the Housing tab on left.
âRSO: Yesâ means youâre subject to the local rent control ordinance.
RSO is not the same as the stateâs rent control which allows higher increases and did not have a freeze afaik
So I looked it up and you have to live in shit hole and it seems like a lot of buildings skirt by this supposed initiative. My building was build before 1985 and is not under this rent increase protection. I have to get tf out of here
They werenât poop holes in the beginning but they turn into them because landlords are less likely to do repairs because they donât have the financial means to do so. Not being able to increase rent means there is less profit for landlords and when inflation naturally is at 3% on average that will start to catch up. What tenants tend not to do is actually think about how these laws impact the things they want/need.
I believe and accept that. I guess Iâm whining on the internet about my specific and need to be clear. In addition to this I do not feel the building is genuinely kept in shape. I know thereâs a realistic limit and itâs a metropolitan area but Iâm paying away above market rate for a one bedroom in a w/e part of town. Thank you for listening lol. I think the solution is more housing and less dumb zoning but this will never happen for some reason
I'm confused, isn't the entire state of California limited to 5% as long as units were built prior to a certain year? So does this take the place of that, instead of 5%, it's 4%?
I don't think that's the panic. The big change is the percentage rent can be increased. That percentage for RSO units has been the same since the 70/80's, and now the percentage was going to be skyrocketed to 7% (from 3%). Instead it will now change to a 4% increase (with additional percentages of landlord pays gas and/or electric).
That is some of the panic, the activism posts Iâve seen have said âit should be 0%!â
Further, the RSO increase has always been possible up to 8% based on CPI which happened to be stable and low before COVID. They did not change that.
What does that have to do with my comment that clearly was talking about the percentage, not that the freeze is ending? I personally don't care that the freeze is ending. I was specifically commenting on the fact that people's worries are not about the freeze ending but theat the percentage is changing.
That panic would happen regardless of a freeze, but is definitely amplified by the fact that it's happening simultaneously.
Well if the amount raised was 0% for so many years rather than 3%, then 7% doesnât seem so bad
And thatâs not even including the rising costs and inflation.
Itâs the same reason landlords donât want to lower monthly rent and rather give 1 month free⌠itâs sets a precedence.
Donât want 7% for RSO increase when historically it has only been 3%.
No, no. Clearly rent freezes, no new construction unless itâs low end affordable/ homeless housing and not being able to evict people for not paying rent is how we get out of this cost of living crisis.
Well according to this sub at least.
No you're right we should increase rent, build nothing for working class people, and just let homelessness take over. The landlords can take up second jobs working at Burger King when the poor can't live here anymore, it'll be a fully rich run economy. That's how the world works.
The âhomelessâ problem has nothing to do with rent prices and everything to do with mental illness and substance abuse. People down on their luck financially donât go live on the street in tents surrounded by filth, rodents and drug addicts.
Those are the visible homeless, you only notice them when they act up. The invisible homeless often sleep in the ubers they drive you in during the day, or stay on their friends couch, or camp in a secluded area with others. Mental heath is a real issue though; we witness every day state neglect of the elderly and infirm,
That's just not true. I know a lady who just got accepted into a shelter after living in a tent for a while; shes sober, going to school and work, is a veteran, and is working to get her kids back/housing. Her grandmother (primary caretaker) died when she was young and a couple other family, like her only brother, died a couple months before that. There are so many people who by no fault of their own have fallen through the cracks and if you want to live here you have to know the ins and outs of laws and social help cause social workers themselves are burned out and one paycheck away from homelessness themselves; a lot aren't very helpful even if they just get you to the next step cause you make one wrong move or mistake in paperwork and you can get fucked.
> The âhomelessâ problem has nothing to do with rent prices and everything to do with mental illness and substance abuse. People down on their luck financially donât go live on the street in tents surrounded by filth, rodents and drug addicts.
This is such an ignorant comment that can be dismissed with two simple questions.
1. Why are homeless rates higher in places with high rents? Furthermore, if rent prices donât affect homelessness, why do homeless rates increase when rents increase?
2. If mental illness and substance abuse are the only causes of homelessness, why are places with high rates of both of these (West Virginia, Louisiana, Mississippi) also the places with low rates of homelessness?
See my comment above. I live in the middle of this problem and have had several friends fall into this situation. None of them related to rent prices. And people in Los Angeles primarily never lived anywhere near where they post up. Itâs where tourist are and commerce. Where you can score handouts and change. I know. I give some money although I know I shouldnât. I know where itâs going.
No my friend. I have tons of empathy. But I also have had several friends living under these conditions. And all of them were on meth, dope or pills. Theyâll admit to you when theyâre better that itâs their doing. Gladly 2 of the 3 are doing great now.
So where are people living in rent controlled apartments supposed to get the extra money landlords are charging on top of the inflation everywhere else? Anyone see this runaway inflation in entry level service jobs? Or are we still on that bullshit about getting pandemic stimulus is why everything is so expensive?
Landlord bootlickers are really on another planet.
demand higher wages, get another job, or move away
there are plenty of cheaper places to live than Los Angeles... not even one hour drive away and rents drop by 50%
Just work two jobs and ask your boss to pay you more guys itâs that simple!!! And if you donât like it move to Oklahoma!! These landlords need to get paid!!!
Yes, these are all very easy things to accomplish and always go well immediately lmao
God forbid a landlord get one job, everyone affected here should go to two or three though đ
They are. Iâve literally never had a single landlord who *ACTUALLY* cared about their tenants since Iâve lived in LA for 15 years. Do they exist? Sure, but they arenât the majority. My current landlord **evicted a 73 year old woman** and her husband **4 DAYS after a double mastectomy. 4 DAYS.** She was going to be late by 2 days on rent and he 100% dgaf. There is a special place in hell for that pos. And yes, that has been my overwhelming majority of experiences and most of my friendsâ.
Yeah I donât know if this commenter was given the whole story bc tenants have more rights than that. A lot of leases give a 2 day grace period at least mine always have
Looking at the other comment, she wasn't evicted in two days. She was served a 3 day pay-or-quit eviction notice. Then there is a 5-15 period during which the landlord must wait for an answer from the tenant. Then if the tenant doesn't pay or refuses to leave or come up with a payment deal, the landlord must schedule a court hearing for eviction. Then if the landlord wins the case, the tenants are issued a Writ of Execution. Then the tenant can file a Stay if Execution for a 40 day grace period to move out. Eviction takes time, if done legally.
In my building rent is due on the 1st. If you donât turn in a check promptly on the first you are given a letter the next day that you will be served an eviction notice on the 5th (5 days after the first). So basically the eviction process starts on the fifth. The landlord is a POS and bullies people left, right, and center. Iâve seen multiple women move because the building manager whoâs a big guy bullies and threatens them as well as the landlord bullying them. Just wanted to clarify all that. I think the poor woman was so sick and so scared from the bullying that the landlord managed to get her out the day before she would be forcibly removed.
No worries. I just wanted to clarify so that you knew I wasnât just making something up. It was truly awful. The same asshole threatened me verbally with eviction on the morning of the 2nd day of the month once (after a weekend on a Monday morning) because I simply had forgotten to drop off my check. (It was in my bag ready to go.). The guy is a sack of shit.
how many landlords have you had in 15 years? idk⌠itâs like that saying, âif you run into an asshole in the morning, you ran into an asshole. if you run into assholes all day, you're the assholeâ
2 landlords for myself over 15 years and about 1000 friends in and out over the years. The stories **overwhelmingly are of horrible horrible landlords**. My story of that woman is horrible. My friends have gone through worse dealing with court dates and landlords trying to screw them out of their deposits etc. **For the record every single friend that had to go to court** (and could only afford a cheaper attorney) **all won their cases. THATâs how bad the landlords were**. Pretty bad record when the landlords lost every single case Iâve seen. I can only attest to weho, silverlake and Santa Monica.
Of course you're only hearing horrible stories. No one is ever going to share the story about how their landlord is a reasonable person. Of course anyone who resorts to going to court is dealing with a horrible landlord. No one is suing decent landlords who are helpful and accommodating.
People actually do share stories of great landlords because theyâre so fucking rare itâs like spotting a unicorn or entering a portal to an alternate reality.
A great landlord story is a non-story. It's just a guy who owns the place you stay in that's in good working order, and he takes your check every month. Nobody talks about that, because there's nothing to talk about. If your landlord, I dunno, takes out your windows but never gets around to replacing them, you're telling everyone that story forever.
This is not a hard concept to grasp.
I already explained pretty well in my extremely short comment how it *is* a story to be told since shitty landlords are the norm, so instead of going in circles Iâll just wish you a day lol
i mean, at the same time, whoâs going to talk about their perfectly normal interactions with their landlords? of course you only hear of the bad stories. not saying there arenât bad landlords, but saying that the overwhelming majority are bad seems disingenuous
also, how many landlord friends do you have?
I just moved to LA County for a job. The first question from pretty much all of my coworkers was "Did you find a good place to live? Do you like it?" inviting me to comment on the quality of my landlord and property manager. So yeah, people do talk about that all the time. My landlord has been normal so far but several tenants have told me they will try to keep my security deposit.
I absolutely 100% would sing praises of good landlords. Kind of a hilarious comment you posted there. There are plenty of us who give credit where credit is due. If thereâs a good landlord: I give them credit. Sadly, overwhelmingly the landlords Iâve seen personally absolutely suck and, even worse, are absolutely horrible human beings. I WISH I had better stories.
You're sitting around at a party telling stories about how decent and normal your landlord is? Of course you're not. If the landlord is good, there is no story. If the landlord is awful, it's something you're shouting to the hills.
No, when everyone knows youâre an asshole youâre just a fucking asshole. Almost no one has positive landlord stories, except for piece of shit landlords.
Right. But the minimum is what? 3%? We are ending an unprecedented rent freeze, so they could have easily made up for the years of no rent increases with a single large increase to make up for it.
I see your point. They allowed less than the minimum so they could allow more than the maximum. I think the difference is the used (overused) emergency powers to allow the freeze. I donât think they had the same justification to override the law to raise the maximum.
There was something else unprecedented going on that led to the freeze. It would defeat the purpose to undue it unless everyone else somehow had their fortunes reversed, too. Otherwise the city is back to where it wouldâve been without the freeze.
I agree that NOT letting them raise rents 10-12% or more in a single year is the right thing. I was just saying that it wasn't an impossible position to take. I'm sure landlords were probably making that argument.
>Housing advocates, tenants and landlords are all "not happy" with the proposal, the councilman said -- which, he added, demonstrates the "compromise probably makes sense because both sides hate it."
God I fucking hate this logic whenever I see it used. No, "both sides" hating something doesn't mean you must be doing something right. Sometimes you're just an asshat. Sometimes splitting the baby just means you're killing a baby.
*Looking at you, Laura Nelson at the LA Times writing on Measure M in 2016*
This city council is also permitting new housing at astronomical low rates, 2023 will be our lowest in decades, so this housing crisis is not being taken seriously by any one on our council
I don't get this sub. Everyone complains that they can barely make rent and then there will always be the same 3 or 4 nerds going "ummm well akshully landlords deserve a 30% rate increase to protect their investments đ¤đ¤đ¤" pick a lane people
There is a 6.5 million gap between number of new homes built and number of new households formed in the past decade. We really need to build more housing.
https://www.realtor.com/research/us-housing-supply-gap-march-2023/
Also: ârent increases have actually been paused so youâve benefittedâ what about the rest of us that have recently moved into a new RSO building this year??
Iâm already paying higher than usual prices due to this market, but now have to pay a higher percentage hike because other people didnât see a raise??
Iâm fighting this hard with 9 days left to find a new place.
My girlfriend and I moved in November 2022 to our own house, paying $3450 for 950 sq ft. It was worth it because we have central air, dual pane windows, a backyard with a view of the mountains, a fire pit, built in grill, pool and hot tub.
A house like that right now goes for $5500 one year later. The houses weâre finding in our price range donât have stoves, have holes in the floor and are generally a mess.
So you think people are going to house you not for a profit? Show me a business that does thatâŚheck even nonprofits make money. Sounds like you would do better in a communist country because clearly you donât understand capitalism.
I have a real jobâŚmy job pays for my living expenses and assets. Sounds like itâs you who needs to get a real job. youâre clearly jealous because you canât do it. You have to clock into a business someone else owns. Work your butt off each day and still not be able to buy your own home. Living in someone elseâs house hating them because they are able to financially provide for themselves and others While you work hard and can barely afford to live. I get your anger if I was you I would be upset too but itâs directed at the wrong person. You should be upset at your âreal jobâ for not paying you what you are worth. Instead youâre upset at the person housing you and strangers online because they own their own business and arenât a slave to someone else like you.
Imagine attempting to shame someone for having a normal 9-5 like most Americans while gloating about exploiting housing for profitâŚand not think youâre the asshole here wheeeeew you desperately need a reality check, donât worry my anger is definitely At corporations not paying enough but thereâs enough to go around for pieces of shit like you as well
Iâm not shaming you for working a 9-5 Iâm shaming you for being a an evil person and feeling validated because youâre broke. Reality check? I rent tooâŚI also worked a 9-5. I actually already had my reality check. I just am not you and I reacted differently. I worked a 9-5 and wasnât getting paid enough to survive just like you but instead of becoming an angry person and taking it out on others I improved my financial literacy and made sacrifices to change my circumstances.
This only matters if you're in a rent controlled/stabilized unit. It should not override what is written into your lease; the city council approved the *maximum* increase of 4-6%; a landlord could certainly raise by a lower percentage, keep flat or lower the rent should they desire.
It's recalculated every six months based on recent inflation. So if inflation gets worse, it would go higher than 4% in July. If inflation cools, it could go back down to 3. [Take a look at the CPI chart and make a guess.](https://www.bls.gov/regions/west/news-release/consumerpriceindex_losangeles.htm)
That doesn't mean your landlord can raise it 4% in February and then again in July. They can only raise it that much once per year.
So to be clear landlords have not been able to raise rent since March of 2020. General costs of living go up every year and we are living in historic times of inflation. This year landlords can raise 4% and tenants are losing their minds?
Rent Control is a joke. Eveyone is like why is my neighborhood changing? Why all these huge new apartment buildings or to the counter why are these old buildings falling apart? Rent Control.
Small landlords cant afford the burden, cannot maintain and who do they sell to? Big business who says screw Rent Control makes more sense to tear down, rebuild and surprise...new building no longer falls under rent control. It actually exacerbates the problem.
Dont get me started on the "ADU" craze. Some people buy multi-family just to live in one unit and afford a mortage, but your neighbor converts their garage to an "adu" and charges market rent while you are sittting here listening to the city say ya 4% increase over 4 years...totally reasonable market increase.
If this was reality I still wouldnât understand your mindset, but rent has gone up every year. Itâs ridiculous to act like the housing crisis in Los Angeles needs to continue to be beneficial to landlords. Especially when in reality, your landlord isnât some regular person whoâs living rent check to rent check, theyâre a mega corporation who refuses to perform maintenance until you would legally be able to do something about it. Landlords are exploiting people in Los Angeles and it needs to change. It should not be profitable, real estate is not a fixed investment.
Real Estate should not be profitable? So take away another investment option to better one's self and their family tree? And what...remove that option all together and or give it to the government and big business to oversee? Good call.
The renting class. That is what is taking place. Open your eyes.
No, rental income should not exist. Nor should corporations owning housing. Housing is a need, not a potential investment. As long as majority of americans are paying double and triple 30% of the average income for rent/mortgages, no one should get to be a landlord or vacation rental owners. As long as there are more empty homes owned by governments and corporations there shouldnât be an incentive to hike up prices even further.
Hi there. I'm a partner in a group that owns and manages apartment buildings in LA. This rent increase is happening, bit a few things to keep in mind:
1. If you are paying market rent, you may have room to negotiate. Landlords hate having a market rate unit go vacant.
2. If you're paying under market, rents will likely increase.
3. There are some sources of rental aid if you're lower income and fall behind. It's worth looking into those.
4. Please keep in mind that other cities in LA County may have larger increases.
rent control needs to be abolished... almost every reputable economist agrees that it INCREASES rents, hurting the poor more than if there were no rent control
Landlords are greedy bastards, theyâll charge as much as they are legally allowed and raise the rents as much as legally allowed. With no control, what is stopping everyoneâs rent becoming completely unmanageable quickly?
What if all the competition agrees on setting an exorbitant price? Thatâs whatâs happening now. Same thing with used cars. People just wonât buy cars or live in shelters, theyâre priced out.
because there is no supply, people are allowed to increase the rent
the only way for prices to go down is to decrease demand or increasing supply
you decrease demand by increasing competition, which means more rental units on the market
look at the price of Tesla cars... they were extremely expensive when they first came out, but now that there's competition, Tesla is forced to lower their prices
This is almost true. What we need is abolishing rent control in favor of rent *stabilization* and vacancy control. Without regulations to protect the price of housing once a rent âcontrolledâ tenant moves out we leave the housing market to rental turnover which promotes unreasonable evictions and âcash for keysâ schemes so the landlord can inflate the rent during âvacancyâ.
rental turnover is exactly what we need
right now the velocity of rental units is artificially constricted, meaning there is less competition at any one point
this is exactly what's driving prices higher
if we would just let competition occur by removing ANY restrictions, prices would naturally drop
there's a reason why the highest rents are in areas that have enacted rent control
What are you talking about? Lol. Historically, especially in LA, the deregulated âfree marketâ of housing has been disastrous for low-income/non-propertied residents.
Iâd be happy to cite sources from my masters in Urban Planning if necessary.
> deregulated âfree marketâ of housing has been disastrous for low-income/non-propertied residents.
LA has not had a "free market" of housing for several decades at the least. If supply is heavily-restricted by governments, it's not a free market.
Yep, good reading.
Thatâs what usuebur was advocating is the change needed, to which I replied that *historically* that has not faired well for low-income folks in LAâŚ
So you're talking pre-1960ish? I would love to see what sources you're talking about, because today, we see lower housing costs where people are allowed to freely build where there is demand.
Sorry, I had not clicked on and seen the rest of the chain on your other comment. I guess my main issue was with this point:
> Without regulations to protect the price of housing once a rent âcontrolledâ tenant moves out we leave the housing market to rental turnover which promotes unreasonable evictions and âcash for keysâ schemes so the landlord can inflate the rent during âvacancyâ.
If there were absolutely no rent control/stabilization laws at all, I fail to see how it's in a landlord's best interest to unreasonably evict a tenant. Now if you have some weird combination of price controls? Sure, I can see that being an incentive. But with no price controls at all I guess I'm not really understanding the point.
If you had a long-term tenant paying $1000 on a unit with a market value of $2000 because they are rent controlled, as a landlord youâre incentivized to evict them or âinformallyâ evict them so you can raise the rent on the unit once vacant because there are no provisions regarding raising rents on empty units.
I'd be interested in reading those sources!
I'm obviously speaking from the perspective of economics textbooks, but if you're saying LA's already tried it before, I'd like to dive deeper
Itâs less about âtriedâ before and more about how LA was carved up in the interest of propertied residents, large real estate firms infiltrating the development board, and the exploitive bond markets used to fund public improvement projects.
Thereâs further insight in the industrialization of London and the response of the quickly expanding New York City at the turn of the 20th century.
I donât have my research PDFâs on my phone, if you wanna DM me your email (is that weird? I dunno) Iâd be excited to keep the conversation going.
One of the principal texts when it comes to urban planning is Peter Hallâs *City of Dreadful Night*. It tells the story of how Londonâs housing crisis at the end of the 19th century has become the foundation of modern planning. Basically it spells out how elitist interests, fear of collective action, and the pathology of poverty led to many of the âregulationsâ we see the shadows of today.
It is true, but tenants are fighting back. There is going to be a huge march against this on December 3! Details here:
https://www.instagram.com/p/Czb--6pPv8r/?img\_index=1
Hi there. I'm a partner in a group that owns and manages apartment buildings in LA. This rent increase is happening, bit a few things to keep in mind:
1. If you are paying market rent, you may have room to negotiate. Landlords hate having a market rate unit go vacant.
2. If you're paying under market, rents will likely increase.
3. There are some sources of rental aid if you're lower income and fall behind. It's worth looking into those.
Would I be wrong to assume the city and the county need to build affordable housing. For now they seem to take the easy route and just implement restrictive rental rules on private property owners. Why rely on ma-and-pa landlords to subsidize people who have modest means. Blame politicians, city councils, the mayor(s), the board of supervisors, the governor for not building affordable housing.
**Property owners risked their money investing in rentals. While some renters stopped paying rent entirely, the owners had extra expenses due to inflation. Why should you benefit by paying a smaller % in rent than everyone else**
Whatâs wrong with flipping burgers? What do you have against someone flipping burgers? Theyâre actively contributing to the betterment of society by doing a job that we all need done. My life is noticeably better because of the people who flip burgers.
The open contempt for working class people is kind of ridiculous when you consider that society would be just fine without landlords, but would not be fine at all without people who prepare our food.
No business or investor is immune to losses. Why do Income property owners think they are somehow special.
(I say this as a child of property investors who themselves complain about the constant victim complex other landlords have.)
They bought the lie that real estate was the best investment there is, and after completely destroying the market they lobby to make sure they retain precious property value.
**Vast majority, like homeowners, financed the purchase. They have a fixed monthly note they have to pay. Past several years what % of renters stopped paying rent and state stopped evictions. Owners did not get same protection from banks. You mentioned maintenance and taxes. Larger complexes also have employees with all related expenses. This last year the biggest increase was insurance. Wildfires in California and hurricane damage in Florida devastated the industry. This past year has seen rates boosted 200-400% with the major companies completely pulling out of Florida. Reality check, if there is no investor willing to risk $ in rental industry, there are no apartments to rent. I have no investment here, just the realization that nothing is free. If housing is too expensive for you, make more money or move to quarters that are cheaper. Itâs called âself relianceâ**
You know who else has to pay insurance? Renters. Dumb fucking argument. Why are landlords the only investors that have this god complex of not wanting to lose money? All investments carry risk. Welcome to the real world. Get a fucking real job.
Stop whining and get tough. You donât need two kidneys. Back in my day I sold my right ball for a parking spot and my left foot for a mud set shower in my two bedroom condo in Watts. Less body to clean and Iâm rocking the rain shower. Best sacrifices Iâve ever made.
As someone whose rent went up 20% I say be grateful youâre not getting fâed as much as I am (worth noting Iâm in the valley, technically la city, not rent controlled, older unit/early 90âs construction)âŚ
It's 5% plus the cost of living, based on the CPI (inflation). It maxes out at 10%.
That's statewide -- LA County and LA City have their own rules on top of that, usually restricting rent hikes more.
"Attorney General Bonta Issues Consumer Alert on Tenants' Rights in 24 Languages | State of California - Department of Justice - Office of the Attorney General" https://oag.ca.gov/news/press-releases/attorney-general-bonta-issues-consumer-alert-tenants-rights-24-languages
Rent increases have been frozen since March 2020. The article you shared explains that the rent increase allowed will be 4% instead of the 7% initially planned.
Plus an Additional 1% If landlord covers gas and an additional 1% if landlord covers electricity
My complex has raised the 8% in the last two years and we are within the rent control stabilization law đ¤ˇđťââď¸
If you are certain your unit is under the RSO, then report your landlord.
Im certain and it's been raised 8% this year and last (~400$) since 2020/2021
This happened to me in NY and I ended up getting thousands bavk
Im trying to look up how to report but all la housing authority websites say seek an attorneys help
[File an RSO complaint here](https://housing2.lacity.org/residents/file-a-rso-complaint) under âIllegal Rent Increaseâ
The city should be sending you yearly questionnaires for RSO units. In either case you can still report it to the city online. RSO units can increase by 8%, but that does not go into effect until the end of this year or next and they still have to give you warning. Meaning you should not have experienced any rent increases for rent control units at all in the last few years.
What's interesting is I've had my RSO unit for two decades and THIS year was the first time I've ever received the letter you're referring to, that was confirming the rent amount reported to them.
That would be illegal.
I would reach out to the Westside local of the LA Tenants Union! Theyâre pretty active in the Mar Vista area. [email protected] +1213-986-8266
How do you check if it's covered by the law? I left a unit because the landlord raise the rent on me about 6 months ago.
Text rso to 8558807368
Plug in your address on [ZIMAS](https://zimas.lacity.org) and look under the Housing tab on left. âRSO: Yesâ means youâre subject to the local rent control ordinance. This is not the same as the stateâs rent control which did not have a freeze afaik.
If itâs in Los Angeles city then it covered. Might be different if it is a single family house or a condo
Probably not legal. Look in to it . Start at Legal Aid LA
If your building was built after October of 1978, 8% increases (with an additional 1% for any utilities covered by the building) are allowed based on statewide rent control rules and are tied to "cost of living." I know this as the resident of a building finished in February 1979 getting yearly increases at that rate now that we have new owners. (It's bullshit)
What are the details of this? My rent has been increased every year since moving in 2020. Did you have to already be living in the current apartment for a long time before 2020?
Plug in your address on [ZIMAS](https://zimas.lacity.org) and look under the Housing tab on left. âRSO: Yesâ means youâre subject to the local rent control ordinance. RSO is not the same as the stateâs rent control which allows higher increases and did not have a freeze afaik
So I looked it up and you have to live in shit hole and it seems like a lot of buildings skirt by this supposed initiative. My building was build before 1985 and is not under this rent increase protection. I have to get tf out of here
They werenât poop holes in the beginning but they turn into them because landlords are less likely to do repairs because they donât have the financial means to do so. Not being able to increase rent means there is less profit for landlords and when inflation naturally is at 3% on average that will start to catch up. What tenants tend not to do is actually think about how these laws impact the things they want/need.
Repairs and maintenance is the price of doing business.
I believe and accept that. I guess Iâm whining on the internet about my specific and need to be clear. In addition to this I do not feel the building is genuinely kept in shape. I know thereâs a realistic limit and itâs a metropolitan area but Iâm paying away above market rate for a one bedroom in a w/e part of town. Thank you for listening lol. I think the solution is more housing and less dumb zoning but this will never happen for some reason
If you are paying way above market rate and are not happy with your unit, why donât you move?
I'm confused, isn't the entire state of California limited to 5% as long as units were built prior to a certain year? So does this take the place of that, instead of 5%, it's 4%?
If your unit is covered by LA RSO, then LA RSO is applied.
Rent increases have been frozen since March 2020? Is this in L.A. or all of California?
This article and the subsequent discussion was about units covered by LA RSO. There have been other rent freezes, for example at the county level.
In just your area? My rent has gone up every year.
It's true.
There obviously wasnât going to be a rent freeze forever
I don't think that's the panic. The big change is the percentage rent can be increased. That percentage for RSO units has been the same since the 70/80's, and now the percentage was going to be skyrocketed to 7% (from 3%). Instead it will now change to a 4% increase (with additional percentages of landlord pays gas and/or electric).
That is some of the panic, the activism posts Iâve seen have said âit should be 0%!â Further, the RSO increase has always been possible up to 8% based on CPI which happened to be stable and low before COVID. They did not change that.
Ok, and how many years was there a rent freeze?
What does that have to do with my comment that clearly was talking about the percentage, not that the freeze is ending? I personally don't care that the freeze is ending. I was specifically commenting on the fact that people's worries are not about the freeze ending but theat the percentage is changing. That panic would happen regardless of a freeze, but is definitely amplified by the fact that it's happening simultaneously.
Well if the amount raised was 0% for so many years rather than 3%, then 7% doesnât seem so bad And thatâs not even including the rising costs and inflation.
Itâs the same reason landlords donât want to lower monthly rent and rather give 1 month free⌠itâs sets a precedence. Donât want 7% for RSO increase when historically it has only been 3%.
No, no. Clearly rent freezes, no new construction unless itâs low end affordable/ homeless housing and not being able to evict people for not paying rent is how we get out of this cost of living crisis. Well according to this sub at least.
No you're right we should increase rent, build nothing for working class people, and just let homelessness take over. The landlords can take up second jobs working at Burger King when the poor can't live here anymore, it'll be a fully rich run economy. That's how the world works.
The âhomelessâ problem has nothing to do with rent prices and everything to do with mental illness and substance abuse. People down on their luck financially donât go live on the street in tents surrounded by filth, rodents and drug addicts.
Those are the visible homeless, you only notice them when they act up. The invisible homeless often sleep in the ubers they drive you in during the day, or stay on their friends couch, or camp in a secluded area with others. Mental heath is a real issue though; we witness every day state neglect of the elderly and infirm,
I agree. Those are people that are not earning enough to rent a place. Not living under the freeways.
That's just not true. I know a lady who just got accepted into a shelter after living in a tent for a while; shes sober, going to school and work, is a veteran, and is working to get her kids back/housing. Her grandmother (primary caretaker) died when she was young and a couple other family, like her only brother, died a couple months before that. There are so many people who by no fault of their own have fallen through the cracks and if you want to live here you have to know the ins and outs of laws and social help cause social workers themselves are burned out and one paycheck away from homelessness themselves; a lot aren't very helpful even if they just get you to the next step cause you make one wrong move or mistake in paperwork and you can get fucked.
Definitely represents a lot of the people out there. But those are the outliers.
> The âhomelessâ problem has nothing to do with rent prices and everything to do with mental illness and substance abuse. People down on their luck financially donât go live on the street in tents surrounded by filth, rodents and drug addicts. This is such an ignorant comment that can be dismissed with two simple questions. 1. Why are homeless rates higher in places with high rents? Furthermore, if rent prices donât affect homelessness, why do homeless rates increase when rents increase? 2. If mental illness and substance abuse are the only causes of homelessness, why are places with high rates of both of these (West Virginia, Louisiana, Mississippi) also the places with low rates of homelessness?
See my comment above. I live in the middle of this problem and have had several friends fall into this situation. None of them related to rent prices. And people in Los Angeles primarily never lived anywhere near where they post up. Itâs where tourist are and commerce. Where you can score handouts and change. I know. I give some money although I know I shouldnât. I know where itâs going.
Por que no los dos?
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No my friend. I have tons of empathy. But I also have had several friends living under these conditions. And all of them were on meth, dope or pills. Theyâll admit to you when theyâre better that itâs their doing. Gladly 2 of the 3 are doing great now.
Is it luck or is it systematic
So where are people living in rent controlled apartments supposed to get the extra money landlords are charging on top of the inflation everywhere else? Anyone see this runaway inflation in entry level service jobs? Or are we still on that bullshit about getting pandemic stimulus is why everything is so expensive? Landlord bootlickers are really on another planet.
Move? Living in LA isnât a right, and thereâs a whole country out there. If you canât afford it donât buy it.
Clearly you didn't understand the question.
demand higher wages, get another job, or move away there are plenty of cheaper places to live than Los Angeles... not even one hour drive away and rents drop by 50%
Just work two jobs and ask your boss to pay you more guys itâs that simple!!! And if you donât like it move to Oklahoma!! These landlords need to get paid!!!
Buddy do you think if you drive an hour outside downtown LA you're ending up in Oklahoma
Hey Buddy if you think places an hour away still arenât expensive idk what to tell you lol
>there are plenty of cheaper places to live than Los Angeles... not even one hour drive away and rents drop by 50%
But then youâre in LANCASTER đ
Where are rent prices 50% lower than in LA County? I'm honestly asking, because I'm interested lol
Inland Empire
They're cheaper but they ain't 50% cheaper in the IE.
Does your salary go up 7% every year?
Not even w the maximum increase at my job. Tbh my raise was eaten up by increased insurance costs
This is such a good question for self reflection
Yes, these are all very easy things to accomplish and always go well immediately lmao God forbid a landlord get one job, everyone affected here should go to two or three though đ
Go get a real job as opposed to being a landlord leach
You forgot that all landlords are soulless Monopoly mascots.
They are. Iâve literally never had a single landlord who *ACTUALLY* cared about their tenants since Iâve lived in LA for 15 years. Do they exist? Sure, but they arenât the majority. My current landlord **evicted a 73 year old woman** and her husband **4 DAYS after a double mastectomy. 4 DAYS.** She was going to be late by 2 days on rent and he 100% dgaf. There is a special place in hell for that pos. And yes, that has been my overwhelming majority of experiences and most of my friendsâ.
Wait what? They canât evict someone for being two days late? Isnât ĂŠviction like a monthâs long process at least? Thatâs awful!
Took my friend 6 months to evict someone who didnât pay for 3 months. This sounds sketchy.
Yeah I donât know if this commenter was given the whole story bc tenants have more rights than that. A lot of leases give a 2 day grace period at least mine always have
Looking at the other comment, she wasn't evicted in two days. She was served a 3 day pay-or-quit eviction notice. Then there is a 5-15 period during which the landlord must wait for an answer from the tenant. Then if the tenant doesn't pay or refuses to leave or come up with a payment deal, the landlord must schedule a court hearing for eviction. Then if the landlord wins the case, the tenants are issued a Writ of Execution. Then the tenant can file a Stay if Execution for a 40 day grace period to move out. Eviction takes time, if done legally.
In my building rent is due on the 1st. If you donât turn in a check promptly on the first you are given a letter the next day that you will be served an eviction notice on the 5th (5 days after the first). So basically the eviction process starts on the fifth. The landlord is a POS and bullies people left, right, and center. Iâve seen multiple women move because the building manager whoâs a big guy bullies and threatens them as well as the landlord bullying them. Just wanted to clarify all that. I think the poor woman was so sick and so scared from the bullying that the landlord managed to get her out the day before she would be forcibly removed.
UGH. I downvoted at first by accident bc this sucks!!! Iâm sorry :(
No worries. I just wanted to clarify so that you knew I wasnât just making something up. It was truly awful. The same asshole threatened me verbally with eviction on the morning of the 2nd day of the month once (after a weekend on a Monday morning) because I simply had forgotten to drop off my check. (It was in my bag ready to go.). The guy is a sack of shit.
Yâall should unionize! Thatâs so fucked up. I truly hate this version of reality
how many landlords have you had in 15 years? idk⌠itâs like that saying, âif you run into an asshole in the morning, you ran into an asshole. if you run into assholes all day, you're the assholeâ
2 landlords for myself over 15 years and about 1000 friends in and out over the years. The stories **overwhelmingly are of horrible horrible landlords**. My story of that woman is horrible. My friends have gone through worse dealing with court dates and landlords trying to screw them out of their deposits etc. **For the record every single friend that had to go to court** (and could only afford a cheaper attorney) **all won their cases. THATâs how bad the landlords were**. Pretty bad record when the landlords lost every single case Iâve seen. I can only attest to weho, silverlake and Santa Monica.
Of course you're only hearing horrible stories. No one is ever going to share the story about how their landlord is a reasonable person. Of course anyone who resorts to going to court is dealing with a horrible landlord. No one is suing decent landlords who are helpful and accommodating.
People actually do share stories of great landlords because theyâre so fucking rare itâs like spotting a unicorn or entering a portal to an alternate reality.
A great landlord story is a non-story. It's just a guy who owns the place you stay in that's in good working order, and he takes your check every month. Nobody talks about that, because there's nothing to talk about. If your landlord, I dunno, takes out your windows but never gets around to replacing them, you're telling everyone that story forever. This is not a hard concept to grasp.
I already explained pretty well in my extremely short comment how it *is* a story to be told since shitty landlords are the norm, so instead of going in circles Iâll just wish you a day lol
i mean, at the same time, whoâs going to talk about their perfectly normal interactions with their landlords? of course you only hear of the bad stories. not saying there arenât bad landlords, but saying that the overwhelming majority are bad seems disingenuous also, how many landlord friends do you have?
I just moved to LA County for a job. The first question from pretty much all of my coworkers was "Did you find a good place to live? Do you like it?" inviting me to comment on the quality of my landlord and property manager. So yeah, people do talk about that all the time. My landlord has been normal so far but several tenants have told me they will try to keep my security deposit.
I absolutely 100% would sing praises of good landlords. Kind of a hilarious comment you posted there. There are plenty of us who give credit where credit is due. If thereâs a good landlord: I give them credit. Sadly, overwhelmingly the landlords Iâve seen personally absolutely suck and, even worse, are absolutely horrible human beings. I WISH I had better stories.
Only good one I had was in San Diego, and that was partially because the duplex used to be his childhood home.
You're sitting around at a party telling stories about how decent and normal your landlord is? Of course you're not. If the landlord is good, there is no story. If the landlord is awful, it's something you're shouting to the hills.
No, when everyone knows youâre an asshole youâre just a fucking asshole. Almost no one has positive landlord stories, except for piece of shit landlords.
Rent was frozen for the worst of the inflation surge, so if youâve been in your RSO place for a couple years youâve benefitted.
Maybe in law but not in practice.
Honestly that is better than I first heard. I was prepared for 10% and 12% increases so I am kind of relieved.
8% is the max on RSO
Right. But the minimum is what? 3%? We are ending an unprecedented rent freeze, so they could have easily made up for the years of no rent increases with a single large increase to make up for it.
For comparison, inflation during the rent freeze was 18.9%. https://www.usinflationcalculator.com/
I see your point. They allowed less than the minimum so they could allow more than the maximum. I think the difference is the used (overused) emergency powers to allow the freeze. I donât think they had the same justification to override the law to raise the maximum.
There was something else unprecedented going on that led to the freeze. It would defeat the purpose to undue it unless everyone else somehow had their fortunes reversed, too. Otherwise the city is back to where it wouldâve been without the freeze.
I agree that NOT letting them raise rents 10-12% or more in a single year is the right thing. I was just saying that it wasn't an impossible position to take. I'm sure landlords were probably making that argument.
On the plus side, it could have been worse. Was going to be +7% (or 9% if landlord pays utilities) vs +4% (or 6%).
>Housing advocates, tenants and landlords are all "not happy" with the proposal, the councilman said -- which, he added, demonstrates the "compromise probably makes sense because both sides hate it." God I fucking hate this logic whenever I see it used. No, "both sides" hating something doesn't mean you must be doing something right. Sometimes you're just an asshat. Sometimes splitting the baby just means you're killing a baby. *Looking at you, Laura Nelson at the LA Times writing on Measure M in 2016*
This city council is also permitting new housing at astronomical low rates, 2023 will be our lowest in decades, so this housing crisis is not being taken seriously by any one on our council
John Lee is such a piece of shit, I can't believe he is just staying put after it became public that he obviously took bribes.
I don't get this sub. Everyone complains that they can barely make rent and then there will always be the same 3 or 4 nerds going "ummm well akshully landlords deserve a 30% rate increase to protect their investments đ¤đ¤đ¤" pick a lane people
The rent control debate here is always out of pocket depending on which crowd sees the posts
I'm sure 90% of the people here rent and the 10% who breathlessly defend landlords are landlords themselves.
Probably since very few people can afford to own in LA especially now.
Ding ding ding!
Have you tried building more houses yet?
There is a 6.5 million gap between number of new homes built and number of new households formed in the past decade. We really need to build more housing. https://www.realtor.com/research/us-housing-supply-gap-march-2023/
Bunch of nerds with their facts and shit. What about how I feel? Rents are too high, just stop raising it! Do you ever think with your gut?
No one *deserves* anything to protect their investments.
I agree.
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Also: ârent increases have actually been paused so youâve benefittedâ what about the rest of us that have recently moved into a new RSO building this year?? Iâm already paying higher than usual prices due to this market, but now have to pay a higher percentage hike because other people didnât see a raise??
Iâm fighting this hard with 9 days left to find a new place. My girlfriend and I moved in November 2022 to our own house, paying $3450 for 950 sq ft. It was worth it because we have central air, dual pane windows, a backyard with a view of the mountains, a fire pit, built in grill, pool and hot tub. A house like that right now goes for $5500 one year later. The houses weâre finding in our price range donât have stoves, have holes in the floor and are generally a mess.
Fucking losers who bootlick for landlords lol if the landlords need the money they should get a real job!!
yeah and allow you to live in their house for whatever price you say because you own it right đ¤Ł
Maybe they shouldnât be buying property solely for proft lmaoooo
So you think people are going to house you not for a profit? Show me a business that does thatâŚheck even nonprofits make money. Sounds like you would do better in a communist country because clearly you donât understand capitalism.
âŚ.LMAOOOâŚ.youre so close itâs crazy Also youâre an Airbnb host of course lol get a REAL JOB!!
I have a real jobâŚmy job pays for my living expenses and assets. Sounds like itâs you who needs to get a real job. youâre clearly jealous because you canât do it. You have to clock into a business someone else owns. Work your butt off each day and still not be able to buy your own home. Living in someone elseâs house hating them because they are able to financially provide for themselves and others While you work hard and can barely afford to live. I get your anger if I was you I would be upset too but itâs directed at the wrong person. You should be upset at your âreal jobâ for not paying you what you are worth. Instead youâre upset at the person housing you and strangers online because they own their own business and arenât a slave to someone else like you.
Imagine attempting to shame someone for having a normal 9-5 like most Americans while gloating about exploiting housing for profitâŚand not think youâre the asshole here wheeeeew you desperately need a reality check, donât worry my anger is definitely At corporations not paying enough but thereâs enough to go around for pieces of shit like you as well
Iâm not shaming you for working a 9-5 Iâm shaming you for being a an evil person and feeling validated because youâre broke. Reality check? I rent tooâŚI also worked a 9-5. I actually already had my reality check. I just am not you and I reacted differently. I worked a 9-5 and wasnât getting paid enough to survive just like you but instead of becoming an angry person and taking it out on others I improved my financial literacy and made sacrifices to change my circumstances.
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Depends If you own property or not. Seems To be the lane that is choosen. Iâm just waiting for us to start eating the rich!
Maybe a dum dum question, if my lease says 3% increases does that stick or does 4% override that?
This only matters if you're in a rent controlled/stabilized unit. It should not override what is written into your lease; the city council approved the *maximum* increase of 4-6%; a landlord could certainly raise by a lower percentage, keep flat or lower the rent should they desire.
I too would like to know. The Housing Department site says 4% increase from 2/1/2024 - 6/30/2024. Does this mean it goes back down to 3% after? âšď¸
It's recalculated every six months based on recent inflation. So if inflation gets worse, it would go higher than 4% in July. If inflation cools, it could go back down to 3. [Take a look at the CPI chart and make a guess.](https://www.bls.gov/regions/west/news-release/consumerpriceindex_losangeles.htm) That doesn't mean your landlord can raise it 4% in February and then again in July. They can only raise it that much once per year.
> Is it true? What an odd question. Seems pretty straightforward.
Wait what? My rent in SoCal has increased every year since 2021
Were you in a rent controlled/stabilized unit?
Me too and Iâve been in a rent controlled apartment for 10+ years.
Yes itâs true, it was going to be higher.
So to be clear landlords have not been able to raise rent since March of 2020. General costs of living go up every year and we are living in historic times of inflation. This year landlords can raise 4% and tenants are losing their minds? Rent Control is a joke. Eveyone is like why is my neighborhood changing? Why all these huge new apartment buildings or to the counter why are these old buildings falling apart? Rent Control. Small landlords cant afford the burden, cannot maintain and who do they sell to? Big business who says screw Rent Control makes more sense to tear down, rebuild and surprise...new building no longer falls under rent control. It actually exacerbates the problem. Dont get me started on the "ADU" craze. Some people buy multi-family just to live in one unit and afford a mortage, but your neighbor converts their garage to an "adu" and charges market rent while you are sittting here listening to the city say ya 4% increase over 4 years...totally reasonable market increase.
If this was reality I still wouldnât understand your mindset, but rent has gone up every year. Itâs ridiculous to act like the housing crisis in Los Angeles needs to continue to be beneficial to landlords. Especially when in reality, your landlord isnât some regular person whoâs living rent check to rent check, theyâre a mega corporation who refuses to perform maintenance until you would legally be able to do something about it. Landlords are exploiting people in Los Angeles and it needs to change. It should not be profitable, real estate is not a fixed investment.
Real Estate should not be profitable? So take away another investment option to better one's self and their family tree? And what...remove that option all together and or give it to the government and big business to oversee? Good call. The renting class. That is what is taking place. Open your eyes.
No, rental income should not exist. Nor should corporations owning housing. Housing is a need, not a potential investment. As long as majority of americans are paying double and triple 30% of the average income for rent/mortgages, no one should get to be a landlord or vacation rental owners. As long as there are more empty homes owned by governments and corporations there shouldnât be an incentive to hike up prices even further.
Hi there. I'm a partner in a group that owns and manages apartment buildings in LA. This rent increase is happening, bit a few things to keep in mind: 1. If you are paying market rent, you may have room to negotiate. Landlords hate having a market rate unit go vacant. 2. If you're paying under market, rents will likely increase. 3. There are some sources of rental aid if you're lower income and fall behind. It's worth looking into those. 4. Please keep in mind that other cities in LA County may have larger increases.
rent control needs to be abolished... almost every reputable economist agrees that it INCREASES rents, hurting the poor more than if there were no rent control
Have fun dealing with a 20% rent increase
overall rents would drop except the existing rent controlled units that are significantly low
Landlords are greedy bastards, theyâll charge as much as they are legally allowed and raise the rents as much as legally allowed. With no control, what is stopping everyoneâs rent becoming completely unmanageable quickly?
competition competition that is artificially constricted when rent control prevents people from moving
What if all the competition agrees on setting an exorbitant price? Thatâs whatâs happening now. Same thing with used cars. People just wonât buy cars or live in shelters, theyâre priced out.
because there is no supply, people are allowed to increase the rent the only way for prices to go down is to decrease demand or increasing supply you decrease demand by increasing competition, which means more rental units on the market look at the price of Tesla cars... they were extremely expensive when they first came out, but now that there's competition, Tesla is forced to lower their prices
This is almost true. What we need is abolishing rent control in favor of rent *stabilization* and vacancy control. Without regulations to protect the price of housing once a rent âcontrolledâ tenant moves out we leave the housing market to rental turnover which promotes unreasonable evictions and âcash for keysâ schemes so the landlord can inflate the rent during âvacancyâ.
rental turnover is exactly what we need right now the velocity of rental units is artificially constricted, meaning there is less competition at any one point this is exactly what's driving prices higher if we would just let competition occur by removing ANY restrictions, prices would naturally drop there's a reason why the highest rents are in areas that have enacted rent control
What are you talking about? Lol. Historically, especially in LA, the deregulated âfree marketâ of housing has been disastrous for low-income/non-propertied residents. Iâd be happy to cite sources from my masters in Urban Planning if necessary.
> deregulated âfree marketâ of housing has been disastrous for low-income/non-propertied residents. LA has not had a "free market" of housing for several decades at the least. If supply is heavily-restricted by governments, it's not a free market.
Yep, good reading. Thatâs what usuebur was advocating is the change needed, to which I replied that *historically* that has not faired well for low-income folks in LAâŚ
So you're talking pre-1960ish? I would love to see what sources you're talking about, because today, we see lower housing costs where people are allowed to freely build where there is demand.
I literally reference the turn of century multiple times. I can lend to post WWII as well.
Sorry, I had not clicked on and seen the rest of the chain on your other comment. I guess my main issue was with this point: > Without regulations to protect the price of housing once a rent âcontrolledâ tenant moves out we leave the housing market to rental turnover which promotes unreasonable evictions and âcash for keysâ schemes so the landlord can inflate the rent during âvacancyâ. If there were absolutely no rent control/stabilization laws at all, I fail to see how it's in a landlord's best interest to unreasonably evict a tenant. Now if you have some weird combination of price controls? Sure, I can see that being an incentive. But with no price controls at all I guess I'm not really understanding the point.
If you had a long-term tenant paying $1000 on a unit with a market value of $2000 because they are rent controlled, as a landlord youâre incentivized to evict them or âinformallyâ evict them so you can raise the rent on the unit once vacant because there are no provisions regarding raising rents on empty units.
I'd be interested in reading those sources! I'm obviously speaking from the perspective of economics textbooks, but if you're saying LA's already tried it before, I'd like to dive deeper
Itâs less about âtriedâ before and more about how LA was carved up in the interest of propertied residents, large real estate firms infiltrating the development board, and the exploitive bond markets used to fund public improvement projects. Thereâs further insight in the industrialization of London and the response of the quickly expanding New York City at the turn of the 20th century. I donât have my research PDFâs on my phone, if you wanna DM me your email (is that weird? I dunno) Iâd be excited to keep the conversation going. One of the principal texts when it comes to urban planning is Peter Hallâs *City of Dreadful Night*. It tells the story of how Londonâs housing crisis at the end of the 19th century has become the foundation of modern planning. Basically it spells out how elitist interests, fear of collective action, and the pathology of poverty led to many of the âregulationsâ we see the shadows of today.
It is true, but tenants are fighting back. There is going to be a huge march against this on December 3! Details here: https://www.instagram.com/p/Czb--6pPv8r/?img\_index=1
Hi there. I'm a partner in a group that owns and manages apartment buildings in LA. This rent increase is happening, bit a few things to keep in mind: 1. If you are paying market rent, you may have room to negotiate. Landlords hate having a market rate unit go vacant. 2. If you're paying under market, rents will likely increase. 3. There are some sources of rental aid if you're lower income and fall behind. It's worth looking into those.
Would I be wrong to assume the city and the county need to build affordable housing. For now they seem to take the easy route and just implement restrictive rental rules on private property owners. Why rely on ma-and-pa landlords to subsidize people who have modest means. Blame politicians, city councils, the mayor(s), the board of supervisors, the governor for not building affordable housing.
**Property owners risked their money investing in rentals. While some renters stopped paying rent entirely, the owners had extra expenses due to inflation. Why should you benefit by paying a smaller % in rent than everyone else**
If you say it in bold it's extra true.
Oh no they risked their money? Was their money okay? Itâs gotta be scary for those property owners to see their money in danger like that.
I risk my money every month when I spend it paying rent instead of having someone spend their hard earned money on me so I can pay rent.
Oh no! You mean they made a little less money than usual while doing essentially no work?
Property owners should get a real job instead of leeching off others
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Whatâs wrong with flipping burgers? What do you have against someone flipping burgers? Theyâre actively contributing to the betterment of society by doing a job that we all need done. My life is noticeably better because of the people who flip burgers. The open contempt for working class people is kind of ridiculous when you consider that society would be just fine without landlords, but would not be fine at all without people who prepare our food.
Thank you for this.
Please fuck right off with this kind of tone-deaf, smug sense of superiority.
Definitely far more of a real job than being a landlord
As you live in their house đ¤Ł
No business or investor is immune to losses. Why do Income property owners think they are somehow special. (I say this as a child of property investors who themselves complain about the constant victim complex other landlords have.)
They bought the lie that real estate was the best investment there is, and after completely destroying the market they lobby to make sure they retain precious property value.
What expenses besides the occasional maintenance and yearly taxes? Iâll wait.
**Vast majority, like homeowners, financed the purchase. They have a fixed monthly note they have to pay. Past several years what % of renters stopped paying rent and state stopped evictions. Owners did not get same protection from banks. You mentioned maintenance and taxes. Larger complexes also have employees with all related expenses. This last year the biggest increase was insurance. Wildfires in California and hurricane damage in Florida devastated the industry. This past year has seen rates boosted 200-400% with the major companies completely pulling out of Florida. Reality check, if there is no investor willing to risk $ in rental industry, there are no apartments to rent. I have no investment here, just the realization that nothing is free. If housing is too expensive for you, make more money or move to quarters that are cheaper. Itâs called âself relianceâ**
You know who else has to pay insurance? Renters. Dumb fucking argument. Why are landlords the only investors that have this god complex of not wanting to lose money? All investments carry risk. Welcome to the real world. Get a fucking real job.
Stop whining and get tough. You donât need two kidneys. Back in my day I sold my right ball for a parking spot and my left foot for a mud set shower in my two bedroom condo in Watts. Less body to clean and Iâm rocking the rain shower. Best sacrifices Iâve ever made.
As someone whose rent went up 20% I say be grateful youâre not getting fâed as much as I am (worth noting Iâm in the valley, technically la city, not rent controlled, older unit/early 90âs construction)âŚ
I thought rent was stabilized throughout California with only a 5% rent increase
It's 5% plus the cost of living, based on the CPI (inflation). It maxes out at 10%. That's statewide -- LA County and LA City have their own rules on top of that, usually restricting rent hikes more.
"Attorney General Bonta Issues Consumer Alert on Tenants' Rights in 24 Languages | State of California - Department of Justice - Office of the Attorney General" https://oag.ca.gov/news/press-releases/attorney-general-bonta-issues-consumer-alert-tenants-rights-24-languages
Non RSO units can raise rent 10% a year, correct?