Re:Rent Control Needs Retirement, Not a Comeback
by hindsightbias on Friday February 09, 2018 @11:44AM
(#16341658)
> rent had stayed the same
SF allows rent increases, CPI adjusted, usually 1.5-2.5% a year. SF county use taxes have been ~8% for a couple of decades. Prop 13 has been in effect since the 70s.
4 out of 6 units in my building have flipped in 5 years, allowing rent increases. Resulting in at least $70-80K additional income for the landlord (at Prop 13 tax rates). This is more the norm than an outlier - many of the new techies aren't mad at grandma stealing their freedom fries, they're mad at techies who beat them here in 2012.
I'm all for giving up rent control when landlords give up Prop 13.
SF allows rent increases, CPI adjusted, usually 1.5-2.5% a year. SF county use taxes have been ~8% for a couple of decades. Prop 13 has been in effect since the 70s.
4 out of 6 units in my building have flipped in 5 years, allowing rent increases. Resulting in at least $70-80K additional income for the landlord (at Prop 13 tax rates). This is more the norm than an outlier - many of the new techies aren't mad at grandma stealing their freedom fries, they're mad at techies who beat them here in 2012.
I'm all for giving up rent control when landlords give up Prop 13.