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Proposed tenant relocation assistance ordinance

From: domainremoved <David>
Date: Fri, 8 Feb 2019 17:48:38 -0800

Please see attached with body of text as follows:

To: Menlo Park City Council

city.council_at_(domainremoved)

From: David Weiner

Date: February 8, 2019

Subject: Proposed Tenant Relocation Assistance Ordinance

Dear Mayor Mueller and Members of the City Council,

I urge you to reject the Tenant Relocation Assistance Ordinance proposed
by the City’s Housing Commission. Unfortunately, these attempts to
legislate “fairness” are counter-productive. In just December of 2018, a
study titled, “The Effects of Rent Control Expansion on Tenants,
Landlords, and Inequality: Evidence from San Francisco” as seen here:
_https://web.stanford.edu/~diamondr/DMQ.pdf_came to the conclusion,
"Thus, while rent control prevents displacement of incumbent renters in
the short run, the lost rental housing supply likely drove up market
rents in the long run, ultimately undermining the goals of the law."

The proposed ordinance states that if an owner were to raise rent by the
previous year’s Consumer Price Index for all Urban Consumers for the San
Francisco-Oakland-Hayward area, published by the U.S. Department of
Labor, Bureaus of Labor Statistics (CPI) + 5%, a 3-month fee would be
incurred. Assuming arguendo that a landlord needed to increase a $1600
monthly rent 12% to conduct necessary repairs, the property owner would
incur a fine of $4800 in exchange for an attempt to collect an
additional $48 per month in rent. It is simply not reasonable, and will
lead to perverse incentives. As in the Stanford study, repairs won’t
occur as often, fewer permits for building improvements will get pulled,
and fewer apartments will get constructed.

It is upsetting that the Bay Area costs have increased unabated for so
many years. Many of us struggle with the ever-increasing food, housing,
gas and other costs. While rent control helps in the short-run, it
always leads to a failed end result with rents increasing even more than
had the government not interfered with private contractual relationships.

Sincerely,

David Weiner




Received on Sat Feb 09 2019 - 19:59:15 PST

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