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Rent control!

From: domainremoved <Erika>
Date: Tue, 12 Feb 2019 04:33:53 +0000

To Whom it May Concern:

Please note my great concern over the proposal to enact rent control, which I am opposed to and wish the council would take a broader and more creative approach to the overall housing problem.

Last year my clients chose not to buy a property in Mt View that was a four plex because of rent control and a few years ago that property would have sold very quickly with more than one offer. My clients were looking for an investment property and one they could also put their relatives in and were also looking to upgrade the units which would have been as asset to the city. Consequently we turned away and bought a duplex in Belmont which they deemed a better investment and which did not have rent control. That property sold above asking with 10 offers.

After going to school at Cal and returning decades later only to see that the buildings essentially look the same or worse. I can only point to rent control with landlords who cannot and will not upgrade their places as they cannot upgrade their income over time. Today the south side looks like tenement housing and ramshackle buildings with balconies that have way and killed 7 tourists last year! A true city blight that makes for lower property value overall and a disappointing site. I hate to see the lovely City of Menlo Park mimic this poor business model.

Thank you for your time

Erika Ameri

Erika Ameri
License # 01727613

650.269.8211<tel:650.269.8211> | eameri_at_(domainremoved)
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I have not verified any of the information contained in those documents that were prepared by other people.

Received on Mon Feb 11 2019 - 20:30:10 PST

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