Prop 33 is bad for me and other small landlords. migrated from Mexico almost 40 years ago. Since the first day I got here in the U.S. I have had to work many times up to 3 jobs at the same time to be able to make it. Over many years of working extremely hard I was able to save some money to purchase my first house, then a few years later a second house to rent out. Now that I’m finally approaching my retirement years after working extremely hard for all my productive life, now proponents of Prop 33 want to take that away and regulate how much I can collect off of the properties that I spend my whole life to get. THAT IS NOT FAIR.
I am a mom and pop operation, with 1 primary residence, I rent out part of it, and 1 other single family dwelling in a nearby beachfront community. These laws chip away at true ownership, and a property owners right, to do with their property as they choose. They have taken on the debt and liability.......and should be able to do what they wish, since it affects their lives dramatically too!!!
I am a renter on the California coast. Local government in my area has historically been anti-housing, leading to decades of underproduction. This lack of supply of course leads to absurdly unaffordable rental prices, my rent is $2000 for a 550 square-foot 1 bedroom apartment. Prop 33 would be another tool for anti-housing politicians and residents to further restrict housing options in communities like mine. Prop 33 and the expanded rent control it will bring is an ineffective and unequal method of reducing rents for low income and working class families. The loss of municipal and state revenue will cut funding to programs that actually help, such as housing vouchers. No on 33!
I have been a landlord for 33 years. I do not raise rent on my renters as long as they are caring for the house. The average stay of my renters is eight plus years. This allows my renters to have stable expenses. Several have gone on to purchase their own homes. When a renter leaves, I make large improvements on the property, then I raise the rent according to the current market rate, often a tad under the going rate. Prop 33 would force me to change my strategy which has been successful for me and for my renters for 33 years.
We’re small scale landlords with a couple upscale rentals. We’ve invested a lot in our investments to provide nice homes to our tenants. Both our tenants rents are well under market value for the area, partly because they’re both good long term tenants. And if in fact this regulation does pass. We’d be forced into selling our homes, which provides LESS housing for people.