the510 
Member since May 8, 2008


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Re: “Raising the Rent at 138 Monte Cresta

This article tells a lot of stories about the hardships of the tenants, and how much they love the people in the building; how community oriented their apartment building is.
Strangely enough, they are renting from someone else. Not purchasing. They do not own the apartment that they live in, yet they fell as if the owner should some how accommodate their likes and dislikes. If they have been living there for that long, with their rents so far below market value, they are trying to take advantage of the system.

With rent control, the new owner, Cox, is the one biting the bullet, having to pay for the difference in what the tenants are paying, and what fair market rates are. In essence, he is the one making it possible for tenants to continue living in that neighborhood.

I have never heard of the prompt payment discount, (I've been in the bay area for just about 10 years now) and I don't see how that is such a big deal. The tenants, if their rent increases dramatically, could move out to a new apartment.

Posted by the510 on 05/08/2008 at 4:22 PM

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