On June 4th, the L.A. County Board of Supervisors will vote on a proposal introduced by Supervisor Holly Mitchell to cap rent increases at a maximum of 3% or 60% of the Consumer Price Index (CPI), whichever is lower. This extreme measure threatens the viability of rental housing providers throughout the county. It is imperative that property owners voice their opposition and attend the board meeting to protect their rights and the future of rental housing.
The Proposal: An Unjust Burden on Housing Providers
Supervisor Mitchell’s proposal aims to reduce the allowable rent increase formula to 60% of CPI with a maximum limit of only 3% per year. This measure is based on a flawed report that fails to account for the full spectrum of costs incurred by rental housing providers, including mortgage payments, property taxes, insurance, and other operational expenses.
Negative Impacts on Housing Providers
Economic Hardship
With inflation at its highest in 40 years, the costs of insurance, property maintenance, and utilities have skyrocketed. The proposed cap on rent increases will prevent property owners from covering these essential expenses, leading to severe financial strain. For many landlords, this financial pressure will make it difficult to maintain their properties, potentially leading to deteriorating housing conditions that negatively impact tenants.
Unrealistic Expectations from Officials
Elected officials continue to approve significant cost increases for landlords, including new inspection fees, increased sanitation fees, and other mandates. These additional expenses, coupled with limited revenue due to the rent cap, create an unsustainable financial environment for property owners. The proposal does not take into account the rising operational costs landlords face, making it nearly impossible for them to balance their budgets.
Housing Quality at Risk
Reduced revenue will result in insufficient funds for property upkeep. This will inevitably lead to deteriorating housing conditions, negatively impacting tenants who rely on these homes. Property owners will be forced to cut back on essential maintenance and repairs, resulting in substandard living conditions that harm the overall quality of housing in the county.
Discouraging Investment
The stringent rent cap will deter new investments in rental properties. Investors will be less inclined to enter the market, leading to a reduction in the availability of rental units and exacerbating the housing crisis. Without adequate returns on investment, property owners may choose to sell their properties or convert them to other uses, further reducing the rental housing supply.
Call to Action: Attend the Board Meeting
Meeting Details
- Date: June 4th, 2024
- Time: 9:30 AM
- Location: 500 W. Temple St., Los Angeles, CA 90012
- Call-In: (877) 226-8163, Code 1336503
It is crucial that property owners attend the meeting in person to voice their opposition. Those unable to attend can participate by calling in and submitting written comments to ensure their voices are heard.
How to Make Your Voice Heard
Submit Written Comments
Ensure your voice is heard even if you cannot attend the meeting. Written comments can be submitted to the Board of Supervisors, detailing the negative impacts of the proposed rent cap on property owners and tenants.
Contact the Supervisors
Reach out to the supervisors directly to express your opposition:
- Hilda L. Solis, District One: FirstDistrict@bos.lacounty.gov, 213-974-4111
- Holly Mitchell, District Two: HollyJMitchell@bos.lacounty.gov, 213-974-2222
- Lindsay Horvath, District Three: ThirdDistrict@bos.lacounty.gov, 213-974-3333
- Janice Hahn, District Four: FourthDistrict@bos.lacounty.gov, 213-974-4444
- Kathryn Barger, District Five: Kathryn@bos.lacounty.gov, 213-974-5555
Engage on Social Media
Use social media platforms to voice your opposition. Tweet your concerns to the supervisors:
- @HildaSolis
- @SupJaniceHahn
- @HollyJMitchell
- @LindseyPHorvath
- @kathrynbarger
Sample Message
Dear Board of Supervisors, I urge you to oppose Item 11. This proposal imposes extreme price controls that will negatively impact the county’s housing stock and residents. The March Rent Stabilization analysis does not justify such stringent measures. This proposal is fundamentally anti-housing and will worsen the housing crisis. We need leadership that supports sustainable solutions. Please oppose Item 11.
The proposed rent cap is an unrealistic and harmful policy that will have far-reaching negative impacts on rental housing providers and the broader housing market. Property owners must take immediate action to oppose this measure by attending the board meeting, submitting comments, and contacting the supervisors. Together, we can protect the future of rental housing in L.A. County.
Additional Resources
Act now to protect your rights and ensure a fair and sustainable future for rental housing in L.A. County!
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