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xyzxyz, I don't think your landlord is obligated to provide you with a new refrigerator. As I'm sure you're aware, most apartments in L.A. are "BYOR".
You must live on the west side. I only say that because you're paying so much, and your apartment doesn't have A/C. I don't know of any apartments in the Valley that are that bad.
I'm a very good tenant. I've always paid my rent on time, and have hardly asked for anything except normal maintenance, like when my garbage disposal kept breaking, and I had to ask them to finally replace it. A few years ago, my son accidentally broke one of the windows in the living room, and as soon as the office faxed me a receipt for the repair, I paid them.
I don't mind when landlords make a decent return on their investments. It's just that many of the ones around here will price gouge if they can get away with it, and they provide very little in return.
WOW! I started this thread and it is amazing all of the wonderful conversation. I am learning I am not the only one who feels the way I do.
There is virtually no water pressure in the place at all, two apartments in the complex are constantly leaking, there has been extensive water damage everywhere and the place has the worst musty smell I have ever smelled.
The musty smell has me concerned and I'm certain upon investigation the source will be discovered... It's not uncommon to find small pin holes in cast iron waste lines from sulphuric acid drain cleaner... the stuff won't hurt ABS pipe, but is murder on Cast Iron.
I doubt it's a supply water leak unless you're seeing standing water or water stains.
As for a low pressure... actually more accurately called restricted flow, it could be something as simple as clogged faucet strainers or occluded galvanized pipe... I would first check to see if the flow is the same at each faucet or if it varies... and go from there... A copper re-pipe job might be in order.
I'm at a disadvantage because I know very little about LA Residential Rentals... As a Northern CA owner, with both Section 8 and non Section 8 residents, I have not raised my tenants rents in several years and one as far back as 10 years...
I've been blessed with very good people and I was fortunate enough to lock in fixed rate loans so my tenants won't have to deal with my loan problems...
As far as heading for the hills... it must by a Southern CA thing.
I visit each property every Thursday to take care of the yards... It takes just as long to take care of an apartment complex as a single family home... but this way, I know the yards are being maintained and my neighbors also know that I'm taking care of things... and it saves me time because I can take care of a dripping faucet or a sticky door lock without having to make a special trip...
Thursday works for me because it's my day off and I like to have everything looking nice for the weekend and let my residents enjoy Saturdays and Sundays without the noise from the Mower and other Power Equipment...
A lot of new owners "Over Bought" and I can show you several buildings in foreclosure... it's a bad situation for everyone concerned. Loans are much harder to get today and without the ability to collect market rents, I'm sure more buildings will be in foreclosure... I recently read Rent Control jurisdictions have a higher percentage of foreclosures than comparable non rent control areas...
Last edited by Ultrarunner; 05-18-2008 at 01:05 AM..
Reason: typo
Rent Control is a Social Program and unlike all of the Social Programs you've listed. Welfare, Medicare, Unemployment, Food Stamps, AFDC, etc., are all Social Programs funded by Government... and that is the crux of the problem. If society deems Rent Control as necessary for the common good, it is incumbent on everyone to fund it through tax dollars... and we already do through the many HUD programs.
Thank you for making the whole concept of rent control a little clearer. However, I'm still not clear on how someone qualifies for rent control, and maybe that would make it easier to understand what we're really voting for on this proposition.
Thank you for making the whole concept of rent control a little clearer. However, I'm still not clear on how someone qualifies for rent control, and maybe that would make it easier to understand what we're really voting for on this proposition.
the tenant doesn't have to "qualify." the property is either covered by the ordinance, or it isn't. if it is, anyone who leases it will receive the benefit, regardless of individual financial need. in los angeles, the ordinance applies to most multi-family dwellings on the rental market prior to 1978. nothing built after that year is covered.
the tenant doesn't have to "qualify." the property is either covered by the ordinance, or it isn't. if it is, anyone who leases it will receive the benefit, regardless of individual financial need. in los angeles, the ordinance applies to most multi-family dwellings on the rental market prior to 1978. nothing built after that year is covered.
Exactly what katenik posted... that is why Rent Control is different than many other Social Programs... it is not something that means tested or one has to qualify.
Each of the 15 individual Rent Control jurisdictions in California have variations and nuances in the way they operate... when in doubt, it is best to see what applies in your area...
Rent Control is sometimes Confused with low income housing programs... The Section 8 Voucher Program is the largest nationwide and one has to qualify through your local Housing Authority's Eligibility Office...
Section 8 is premised on no family, retired or disabled individual should have to pay more than 30% of their income for housing that meets minimum HUD standards... The program is limited to families at a below a predetermined income... Your Housing Authority is the best source of information and can tell you how long the wait it to get on the program...
The problem I see throughout this post is that landlords are under the misguided impression that people have choices when it comes to housing. Many people are not able to afford to buy homes. Especially in today's housing market. One of the major reason the housing market is in crisis is because people were so desparate to get from under a landlord they got into deals they had no business getting into. People very rarely live in apartments because they want the "freedom" to move...they do because they can't afford another choice. Living on the streets is not an option...LAPD and other cities work overtime harrassing the homeless and making that life as uncomfortable as possible. Landlords are trying to make a profit at the expense of those who can least afford it. They take advantage of the fact that people can't afford to move and make it so by making move in costs very expensive. They also use this method to try to force people to stay in their apartments. This is the of the reasons 'm leaving California. But thank to the same people who gouge rents from people, salaries are kept so low it's going to take me a year (and two jobs) to be able to afford to leave.
Last edited by CESpeed; 05-18-2008 at 08:59 PM..
Reason: spelling
Here is a very simple example of how those under rent control are being subsidized by those not under rent control.
Let's say you have a property with 2 units. One unit is under rent control, one is not.
Let's say the property owner needs to charge an average of $1,000 per month for both units to cover expenses and make the desired return on the investment.
If the unit under rent control is only paying $500 per month, that means the poor sap renting the other unit has to pay $1,500 per month.
So let's assume the person paying $500 per month can only afford that, and no more. What that person is doing is relying on a subsidy from the "rich" person willing to pay $1,500 per month. Charity, if you will.
Were rent control removed, a landlord could charge just $1,000 per month for both units and make the same money.
He/she would only be able to charge $1,500 for both units if there were two people willing to pay $1,500. If not, then the price has to come down until supply meets demand. Basic economics.
Because the person paying $500 per month could not afford $1,000 per month, with rent control they are creating artificial demand, because at $1,000 per month they would not be demanding that apartment, they would move somewhere else.
What rent control has done for LA is cause "squatters", if you will, to artificially increase the demand for housing, increasing the costs for everyone. More demand given the same supply means a higher price.
Take away the rent subsidy (rent control) and you immediately reduce the demand for housing. Reduce the demand for housing and what happens? Prices come down.
I don't know about you, but I'm all for lower rents.
For those of you arguing that all rents would go up, what you are arguing is that demand would not change. If demand would not change, then what you are saying is that all people currently under rent control could afford to pay more but prefer to be subsidized by the rest of us.
If you are arguing that everyone should have access to cheap housing, regardless of at what expense to anyone else, then you need to move to a socialist country.
You seem to be under the impression that the landlord will pass the savings on, when the reality is that s/he will charge $1500 for both units and pocket a fat profit. Not your rose colored glass theory that the landlord will split the need and only charge $1000 for both units.
The problem I see throughout this post is that landlords are under the misguided impression that people have choices when it comes to housing. Many people are not able to afford to buy homes. Especially in today's housing market. One of the major reason the housing market is in crisis is because people were so desparate to get from under a landlord they got into deals they had no business getting into. People very rarely live in apartments because they want the "freedom" to move...they do because they can't afford another choice. Living on the streets is not an option...LAPD and other cities work overtime harrassing the homeless and making that life as uncomfortable as possible. Landlords are trying to make a profit at the expense of those who can least afford it. They take advantage of the fact that people can't afford to move and make it so by making move in costs very expensive. They also use this method to try to force people to stay in their apartments. This is the of the reasons 'm leaving California. But thank to the same people who gouge rents from people, salaries are kept so low it's going to take me a year (and two jobs) to be able to afford to leave.
I disagree with a couple things and here's why...
Low Income Renters... the Federal Government administers programs through local Housing Authorities to subsidize rent for families earning less than 80% area Median Income... currently the income limit in Oakland for a family of 4 is $66,250.
Oakland presently has almost 15,000 families receiving rent assistance. This program is funded by tax dollars.
Some choose to rent... between 15 and 20% of the employees where I work are traveling Nurses. These Nurses choose their jobs assignments from anywhere in the world and sign a 6 month or 1 year contract... they all rent.
They rent because they need the freedom to pack up and leave for their next assignment. Money is not an issue... they could afford to buy if they desire.
Business... I agree, Property Owners expect to make a return on their investment... that is why it is a business and most cities require a business license to operate. There are a few non-profit rentals... mostly, they are set up for very specific groups of people... Even the non-profits adjust rents to cover expenses...
Operating Rental Property is far from a sure thing and Landlords go out of business all the time... especially in today's Real Estate Climate. Landlord turn over is high... and when children inherit income property... most choose to sell rather than continue.
Today's Housing Market... Too many people own homes with mortgages they can't afford... there are many reasons... some started buying spec. homes and thought rents would cover their costs. Some jumped in and bought because they saw it as a last chance to buy. Others really had no idea what they were getting into and qualified based on the low teaser rate and couldn't afford the payment when it reset. Some have decided they paid too much and find it easier to walk away... and there are those through no fault of their own found themselves in situation where they have to sell for an amount that no one is willing to pay...
Last edited by Ultrarunner; 05-18-2008 at 09:53 PM..
Reason: typo
Again you are discussing a very small segment of the population. Most people do not work on short term contracts or travel that extensively or temporarily. Most people if given a choice would buy rather than rent. Most people who rent do so out of necessity.
Again you are discussing a very small segment of the population. Most people do not work on short term contracts or travel that extensively or temporarily. Most people if given a choice would buy rather than rent. Most people who rent do so out of necessity.
I agree... given the choice... many people do want to own... but, it is more than just owning... the home has to be in the right neighborhood with the right schools.
I live in Oakland and a friend from High School sold his home 2 years ago and decided to rent in Orinda so his kids would go to school in a better district. In hindsight, his timing was great and he is very happy being a renter in a district he couldn't afford to buy anything as nice as what he had... He's a public school teacher, by the way...
Almost everyone starts out renting... I did, my Parents did and so did my Grandparents... it's a rare individual that leaves home and moves into a house he/she just bought...
Arkansas is on my list to visit one day... I hear a lot of good things about it from a retired friend of mine... he still can't get over how low his AR property taxes are
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