Prop 33 impinges on property rights of both non landlord homeowners and the ability of landlords to manage and protect their properties and rent to responsible tenants. Prop 33 is an attack of property rights, a cornerstone right on which other rights are based.
It affects us badly because we have to pay for the mortgages and many fees related to the rental home. It should be decided by the actual market.
The continued assault on landlords in CA has resulted in this landlord leaving and being done as landlord. The state of California is fast becoming the big landlord in the state and soon will shoot itself on the foot unable to provide housing provide continued maintenance insurance oh and taxing landlords to death. Good riddance!
My husband and I are both retired. We have had rentals for a long time. We have tenants who know we are very fair people. When our cost of living jumps up, we have been forced to raise rents. We do not use a Property Manager as we like to know our renters personally. We rely on the rentals as part of our monthly income which allows us to properly care for these people. We are already fair and honest with everyone and we’ve worked hard ALL our lives to have the housing and help many who without our help might otherwise be homeless. If we are controlled it may mean we have to sell our property to maintain our own lives!
All of these propositions that help the tenant only hurt the good landlords.
My husband and I oppose prop 33 because we feel that it is not a fair answer to the problem. Aside from the income we generate from our three rental properties, we have no way to adjust our income to keep up with inflation. We believe that there are better ways to combat the high cost of housing in California, ways that avoid penalizing the small property owners.
My wife and I are both retired and depend on rental income from one rental condominium to supplement our Social Security. Our annual income, including the rental income, is less than 59,000 a year. The median income in my Northern California county is about $100,000, so we are clearly not comfortable. We can buy food and gas for our car, but the cost of living has increased so much we can no longer do much of anything in our "golden years". We rent the property at a little below market rates to keep our exceptionally good tenants. If we lose the ability to increase the rent, we will be facing some dire circumstances. My wife has had to undergo two eye surgeries to correct a detached retina, and she has recently completed a grueling regimen of chemotherapy to fight Stage 4 cancer. The medical bills are staggering. If we can't depend on increasing rents to keep up with inflation, and work on paying the medical bills, I'm not sure we can ever get out of debt, much less pay our day-to-day bills. If we weren't in our mid-eighties we would move to a different state, but that ship has sailed. Proposition 33 is wrong headed and destructive to the livelihood of older California residents.