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Opposition to Tenant Relocation Ordinance

From: domainremoved <>
Date: Tue, 12 Feb 2019 20:36:07 +0000 (UTC)

Dear Clay, Mike and City Council.
I'll be blunt:  I manage property for multi-generational owners of Menlo Park properties.  They have owned these units in some cases from the late 1950's to early 1960's.  I can almost guarantee that in their 50 to 60 years of ownership they not once gave a notice to vacate!!!
These families treat their tenants with great respect and have and continue to be extremely reasonable in their rent rates.  Long term tenancies in these buildings is the norm.  In one case 50+ years.  Most if not all rents are below market rate and in one case an elderly, blind tenant in a one bedroom downtown is paying only $900/mo.  
Enactment of this ordinance will force me to advise my clients to raise rents, in cases where they would not, to build a reserve fund in case a tenant relocation cost is imposed on them by this ordinance.
Many of these owners use the income from their properties to sustain their retirements.  Extra, imposed costs of this ordinance are an expense they can not afford.
In one case, a single family home rental the income from that property is in trust to provide medical, housing, and aid to a disabled family member.  A financial hit from this ordinance would unduly burden this family.
The unintended consequences of this ordinance will be a burden on existing, fair-minded, responsible, long-time, family operated properties and would result in increased rents on existing, long-term tenants which in the long-run will create more vacancies than your ordinance would prevent.
Please do not pass this ordinance.
Sincerely yours,
Paul McCarthy, Realtor/BrokerProperty Manager - Rental Services of Palo Alto650 473-3000pmcrent_at_(domainremoved)
Received on Tue Feb 12 2019 - 12:32:24 PST

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