Host: Jesus Henao

Topic: Proposition 10: Rent Control

Guest: Michael Brennan Landlord Attorney (In-Studio); Assemblyman Dante Acosta 38th District (On-the-phone)

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The Commercial Real Estate Hour – August 06, 2018

On this episode of The Commercial Real Estate Hour on KHTS, I discuss a series of topics including a quick overview of rent control, and why I advocate against pro-rent control legislation, because I believe it hurts mom-and-pop landlords.

Proposition 10 is also referred to as the Local Rent Control Initiative, and could give local governments control on how much landlords can charge tenants for renting apartments and houses. The proposition is going to be on the ballot this November of 2018 for California residents to vote on.

If you vote yes on the ballot it supports allowing local governments to adopt local rent control, thus repealing the Costa-Hawkins Rental Housing Act. If you vote no on the ballot, it keeps the Costa-Hawkins Act and doesn’t allow local governments to put rent control on rental properties.

Previous Episode: Rent Control – The Commercial Real Estate Hour On KHTS FM 98.1 & AM 1220 – July 30, 2018

My parents came from South America. My dad was a baker and my mom was a welder. They worked two jobs and saved enough money to buy their first home. When it came time to move into a bigger house, my parents decided to keep the old house and rent it out.

If they fell under the rent controlled area, they could only raise the rent by 3% each year. I don’t believe it is the government’s place to tell my parents, or other renters who have worked hard to attain these properties how much they should charge.

It also costs a lot of money to keep a home in working order, and if you aren’t allowed to raise the rent to cover those costs, then you could go bankrupt.

Not all real estate owners and landlords are big corporations, in fact many are small family businesses. For more information check out my weekly show where we discuss with experts why this could damage so many people’s livelihoods.