Landlords claim that we tenants were a happy lot before City of Beverly Hills mucked around with the rent stabilization ordinance last winter. They say they hardly ever hit us with excessive rent increases; that properties were maintained just fine; and that no-cause eviction was not even a thing. So why fix what wasn’t broke? To back up those claims they have analyzed four years of Code Enforcement complaints. However this latest Hail Mary attempt to tank our rent stabilization program will persuade nobody that the system didn’t need fixing.
Beverly Hills landlords have never liked the city’s rental unit registry. That year-old ledger of landlords, properties and tenancies is a must-have tool for the city to hold landlords accountable. That’s why landlords fought tooth and nail against it. Last fall their Apartment Association of Greater Los Angeles brought a lawsuit in Superior Court to tank it. Having failed, the AAGLA is back with a literal federal case and a local landlord as plaintiff. Let’s take a look!
Last year Beverly Hills landlords saw their allowed annual rent increase drop from 10% to 3% and the city imposed a relocation fee for any involuntarily-terminated tenancy. They lost the battle for the rental unit registry and the approximately one-in-ten who had long avoided paying business taxes finally had to obtain the required business license. If 2017 was a tough year then 2018 looks only worse if the Affordable Housing Act ballot initiative wins the approval of voters in November.
Resident ‘landlord crusader’ Dan Yukelson recently shared his thoughts about rent stabilization with the Weekly and he’s not happy! This former Planning commissioner (and current executive director of the Apartment Association of Greater Los Angeles) capped his career in corporate finance with the purchase of a fourplex in Beverly Hills. That looked like a good investment until City Council amended the rent stabilization law. He says it crimps his cash flow and now he’s got buyer’s remorse. But Mr. Yukelson is no naïve investor: rental housing in Beverly Hills will always be the best place to park his investment dollar!