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Menlo Park Tenant Relocation Proposal

From: domainremoved <Omar>
Date: Tue, 12 Feb 2019 23:06:19 +0000

Dear City Council Members,

I am writing to urge to consider other means of addressing housing needs in Menlo Park. Being a Realtor, I am well aware of how difficult it is to both rent and buy in Menlo Park as well as the surrounding area. However, I do not think putting the blame on or penalizing the housing providers is the solution.

Please consider the following:

1) In my property management business most of my rentals are taking longer to rent and are renting below previous rates.

2) Thousands of apartments were built in the Bay Area over the past few years.

3) Not all landlords are big, commercial entities that can afford to receive below market rent or pay relocation fees.

4) Rent control often does not help provide affordable housing...is it affordable to rent in San Francisco?

5) Rent control does lead to worse conditions due to the fact that landlords tend to be less willing to maintain and repair underperforming properties.

6) A large source of rental properties are people relocating who choose to rent out their current homes. These relocating people may choose to sell to an owner who will occupy the house because they don't want to be held accountable to an onerous ordinance. This could potentially remove housing units from the rental inventory driving prices up further.

7) Rental controls are rarely applied to single family or even up to four unit buildings-in the very least 1-4 unit buildings should be left out of any ordinance.

8) Housing providers are not the cause of the current housing crisis. In fact, they are part of the solution. We have a robust economy which continues to create jobs and attract people to our great city. Placing the blame and burden on housing providers makes no sense.

Thanks for your consideration.

Omar Kinaan
Realtor, GRI, CDPE, CLHMS
Certified International Property Specialist
Golden Gate Sotheby's International Realty
650.776.2828
CalBRE #01723115
[Linkedin-48]<https://www.linkedin.com/in/omarkinaanrealtor>



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Received on Tue Feb 12 2019 - 15:02:38 PST

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