And so this is their own damned greedy fault…
Such big regular yearly increases of or close to 8.5 percent were unheard of until the state legislature passed CPI + 5 rent control a few years ago. Maybe once in a generation you’d see it happen.
Now it’s business as usual? Screw that.
Burbank City Council could direct city staff to draft a much-discussed and controversial rent stabilization measure next week, as the body is scheduled Tuesday to discuss a potential cap on rent increases and other topics related to landlord-tenant relations…
“It is time for Council to move swiftly with a strong tenant protection ordinance. I hope that on Tuesday our union can show other Burbank tenants that if we organize, we can achieve real wins,” Burbank Tenants Union member, Alissandra Valdez, told the Leader.
Valdez called existing rent control measures “weak” and said that a city with a renter majority deserves better protections. She said BTU’s outreach efforts have exposed a harsh reality for Burbank Tenants.
The state’s new annual “rent control” cap of 5 percent + CPI has deputized landlords and their management companies to assess this amount every damn year.
And now — in the face of Burbank possibly cracking down on the practice, like some other local cities have done — these local landlords are whining about how 8.5 percent a year isn’t enough (!)
The Burbank Association of Realtors President Harry Timuryan told the Leader that any lower cap would overburden property owners, who he says are already experiencing difficulties on the heels of the COVID-19 pandemic.
“It’s been a difficult and weird six years. Inflation has gone up tremendously, materials costs have gone up and the pandemic was disastrous for housing providers. At that time, [property owners] were left out of conversation,” Timuryan said.
See how spoiled these Burbank landlords have gotten?
This guy’s also lying about how property owners were “left out” of the state cap legislation in 2020. Hell, the apartment associations all supported it in Sacramento!
Of course they did — because it gave them an automatic 10 percent rent raise every year! It was instant-advantage time. They’ve all been taking it.
And so these huge annual rent increases have now become a given in Burbank — which is what we predicted would automatically happen when the governor first signed that lax bill four years ago. Use it or lose it their advisers have said — that CPI + 5 — and so the landlords are all using it to the max.
How many Burbank landlords are not taking advantage of this current close-to-10 percent local rent “cap”??
Burbank, California 