Is that about 50% of the monies people receive for rent has to go into maintaining those rental units (apartments, houses, offices, businesses). And this is in addition to any mortgages on those properties.
So, what happens when rent control happens is the only way the owners of these units can stay afloat financially is that they have to start reducing their maintenance costs (plumbing, roofing, new refrigerators, new stoves, painting, and other things units need.
So, this is the problem of rent control in California is it reduces the functionality of those units statewide.
So, it isn't just about renters it is about owners trying to stay in business without going bankrupt or being forced to sell their units to stay financially afloat.
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