Page 12 - AAGLA-JAN 2022

Board President’s Message
Continued from page 11
accusations are being made even though courthouses were closed to eviction actions, and despite the fact that multiple eviction moratoria allowed tenants to forgo paying rent for almost two years. Yet, all that government can offer is rent control and extended moratoria, which ultimately discourages investment in rental housing, keeps rent controlled units off the market because tenants stay longer in a rent controlled unit even after their children may have moved on, encourages those who actually need rent payment assistance to be bought out through buy-outs by those who can actually afford to pay market rent but who want to take advantage of permanent reduced rent opportunities; and it discourages renters from taking the leap to invest in their own home ownership.
While billions of dollars in funds have been raised at the city, county, state and federal levels for affordable housing, there is no clear direction on how this money is to be spent and on whom. Although we have seen some government subsidized affordable, multifamily housing being built, it is simply not being built fast enough to house the thousands of homeless who are living on the streets, and to house the families who are in need of affordable housing today. Moreover, the cost of these government, so-called “affordable” housing units are approximately $550,000 to $650,000 per unit – despite 100’s of billions of dollars in bond money raised, constructing these expensive, half-million dollar plus units will only make a very small “dent” in solving the homelessness crisis we see on our streets today.
We know that you are, and we hope that you will continue to be a loyal member of the Apartment Association of Greater Los Angeles. We are always on watch to defend the rental housing industry and to protect your investment, and we work hard to promote the highest level of professionalism within our industry. We mobilize when there are pressing issues in our territory and throughout the State of California ensuring our members are up to speed on decisions that will impact their investment. We tirelessly work for our members on a regular basis to make sure lawmakers and decision makers are hearing the concerns of housing providers and are taking immediate action to address those concerns.
There are many more battles yet to come that will attempt to compromise the value of your investment, deprive you of your property rights, and potentially shatter your retirement dreams We need owners like you to join us, become involved and help us to help you protect your property. Please join our efforts! As an industry, we can only survive in numbers that are organized. THAT IS WHY YOUR MEMBERSHIP IS SO IMPORTANT.
Again, it is truly an honor to serve as your AAGLA Board President. As a rental housing provider like you, I share your same concerns and challenges, and I will work very hard during my term to oppose legislation that negatively impacts our rights as property owners, and to offer solutions for the betterment of our industry and society as a whole.
12 JANUARY 2022 • WWW.AAGLA.ORG
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