L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
A proposal to cap rent increases at 3% for many landlords in unincorporated L.A. County is meant to keep housing affordable for at-risk tenants.
Paywall removed: https://archive.is/MbQYG
You're viewing a single thread.
Is there a downside further in the article or is it just all positive news?
The downside is they’ll just be bought up by corporations who will be even shittier landlords.
If the market is adequately regulated they wont be shittier landlords. There somehow is this romantic idea of smaller scale landlords to be like the good old guy that want to help a family find a good place and accept a modest profit. They exist, but the majority are just equally cutthroat like large corpos. Difference is that large corps have more means to be strategic about it and accept risks like 5% of tenants suing successfully while the rest just accepts the illegal treatment.
If the market is adequately regulated
Well there's your first mistake lol
It is not an argument against regulation though. Regulation of markets like housing and healthcare, is reasonable and necessary. These cannot work as free markets because the one side has their life depending on it, wheras the other just can have another customer.
living isn't a requirement, have you seen how many people willingly consume drugs and sugar despite knowing the risks. Let the free market collapse the upper class (almost certainly after the working class but still)
My current landlord has broken half a dozen laws, so yeah... At least corpos don't do that.
Idk about that. Almost all renting horror stories are with small private landlords.