dukthefodgers 
Member since Apr 2, 2011


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Re: “Oakland Landlords Put on Notice

Stevefromberkeley, If a landlord is taking a lower rent than market because of mandated rent control, then what would you call this (if not "subsidized")?
Most landlords make about 3-6% renturn on their proeprties. This is a very slim profit margin. PG&E, EBMUD, and Waste Management costs typically go up 4-12% annually. If rents remain the same because of rent control and expenses go up, landlords are no longer able to repair their properties and create nice places. There is a direct correlation between property maintenance and condition when you take money from housing providers (be it city owned apartments, privately owned apartments, etc). Whatever you want to classify rent control as, it takes money out of housing a provider's pocket.
Of most concern, there are many apartment buildings in the Bay Area that are in serious need of seismic upgrades, or there will be injury and casualty in a large earthquake. Who should pay for these upgrades? Perhaps the tenants groups who are so concern with protecting tenants rights, should start thinking about tenants safety!

3 likes, 4 dislikes
Posted by dukthefodgers on 04/02/2011 at 6:03 AM

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