Page 33 - AAGLA-MAR 2022

LettMeresmtobtehreUEpdiatoter
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indirectly threatening me for not repairing things that, in my opinion, do not require repair. When there are things in need to repair, my tenants have not even allowed me to schedule workers to enter their unit to make needed repairs by claiming that they have become sick from COVID-19.
Where am I supposed to get the money to fix the list of repairs demanded anyway? Because of inflation, my handyman is now charging me a lot more than ever before. Their minimum charge is $300 for labor. There are also material costs that have already increased significantly. How do I raise the money to fix and cover all my expenses which have increased due to inflation when I cannot increase my rental rates?
My mortgage rate is very high. My tenants’ rent payments are lower than the current market rental rate. Even increasing rent by as little as 4% per year will not catch-up most landlords during times when there was no pandemic. For every $1,000, a 4% increase is only an additional $40 per month, and my tenants are paying $1,200 for a 2 bedroom in my duplex, so their rent will only increase $48 per month when the market rental rate is $2,500 per month.
Owners of new buildings can increase rent by 5% plus the change in the Consumer Price Index (CPI) up to a maximum of 10%. For smaller landlords like me who bought old duplexes, we cannot even increase rent. Does the City of Los Angeles and/or Los Angeles County merely want small landlords to file bankruptcy or be in foreclosure? It seems the government merely wants to steal our properties. How can I survive?
By keeping rental income so low, it does not even cover our costs. For us, liability issues and repairs are increasing more than ever. The City of Los Angeles and County of Los Angeles appear to only protect tenants, and there seemingly is never any protection for landlords. There must be some fair balance and protections for landlords too. In particular, small landlords should be permitted at a minimum to increase rent for tenants that are working and that have really gone unaffected by the pandemic. Blanket moratoriums are unfair and hurt small landlords. All of this is so unreasonable. That is why investors say that Los Angeles County is “deadly” for income property investors.
There is no freedom and right of an investor in LA county.
The government has stolen my rights as a property owner. These rules must be balanced on both sides. The rent freeze must be terminated.
- Sarah K., Los Angeles
On the County of Los Angeles’ Continued Extension of COVID-19 Protections
(Editor’s Note: This letter was sent to the Los Angeles County Board of Supervisors in advance of its January 25, 2022, meeting. The letter has been reprinted with permission of its author.)
Good Morning Comrades:
I know a little bit about Communism having immigrated to this country from the former Soviet Union, so I wish to
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