L.A. County Supervisor Holly Mitchell has introduced a proposal to restrict rent increases to a maximum 3% or 60% of CPI, whichever is lower. Every owner in the county should oppose this item and protest in person! The county recently released a report examining its rent control formula. The report neither justifies such an extreme price control nor adequately vets the policy. For years, owners were prohibited from increasing rents at all and ordered to house residents for free during the COVID lockdowns. Insurance costs are soaring, inflation has been running at the highest in 40 years, and local governments continue to add on costs. This will make the housing crises worse, deter investment, and make it even harder to operate. You can read the Item 11 HERE! You can read the County Rent Control analysis HERE! You can read the full agenda HERE! Although this policy is for unincorporated areas only, the Board of Supervisors represents all L.A. County, from Lancaster to Long Beach, from Los Angeles to Pomona. The supervisors must reject this extreme price control. This will affect other local rent laws. |