Rent Control's Ludicrous Fallout: Why Landlords Are Pushing Back

Los Angeles County has created a new Rent Relief Program, which is intended to provide over $46 million in direct financial assistance to qualified landlords to help mitigate the economic impacts caused by the COVID-19 pandemic that have resulted in tenants falling behind on rent. The new Rent Relief Program is being administered by The Center by Lendistry, which will provide grants up to $30,000 per unit to eligible landlords for expenses dating from April 1, 2022, to the present. The program will prioritize small, mom-and-pop landlords who own up to four rental units, the Program aims to reduce tenant evictions due to rent arrears, maintain the viability of small-scale rental businesses, and ensure continuity of housing in the community.

Starting mid-December, rental housing providers can apply for the Los Angeles County Rent Relief Program by visiting the portal at www.lacountyrentrelief.com. Applicants will receive free multilingual technical support from community partners to guide them through the application process and assist with gathering necessary documentation. Landlords are invited to visit the portal now and register to receive updates and a link to apply when the online application is opened.

Are You Ready For SB326 and SB721?

SB 721 (2018) (Opens in a new tab) and SB 326 (2019) (Opens in a new tab) require inspections of Exterior Elevated Elements (EEE) by 2025. Buildings that are proposed for conversion to condominiums to be sold to the public after January 1, 2019, must be inspected prior to the first close of escrow. EEE inspections, as well as any required maintenance or repair which is identified as a result of the inspection, are the responsibility of the private property owner. While some local governments already impose a local inspection program, this California law requires inspection of specific balconies throughout California.

What Buildings Must be Inspected?

Buildings with 3 or more units that have:

• Balconies, decks, porches, stairways, walkways, and entry structures that extend beyond exterior walls of the building and that rely in whole or in substantial part on wood or wood-based products for structural support or stability; and
• A walking surface that is elevated more than 6 feet above the ground level; and
• Balconies designed for human occupancy or use.

If you are unsure if your building fits the criteria, feel free to give us a call. We work collaboratively with qualified inspectors and are happy to provide referrals.

LA City Council Votes To Allow Rent Increases Of Up To 6% Next Year

The Los Angeles city council voted to let landlords increase rents in the city’s rent-controlled apartments up to 6% for the first time since March 2020.

The proposal will allow rent hikes of 4% beginning on Feb. 1 with additional 2% increases permitted for landlords who cover their tenants’ gas and electricity costs.

The 10-2 decision came after fierce debate among council members, caught between pleas from tenants to keep low-income residents housed by continuing the pandemic-era ban on rent hikes and demands from landlords to end a nearly four-year rent freeze that blocked increased maintenance costs from being passed on to renters.

*Source: LAist by David Wagner. Read the entire article HERE (Opens in a new tab)

New Properties Under Management

Power Property Management is thrilled to announce our latest additions to our growing family of properties. From Los Angeles to Westchester to Koreatown, our portfolio has expanded by nearly 60 units this past month. Included in these assets are fully renovated units with modern amenities in locations that place residents in the epicenter of the neighborhood.

If you are an owner of a property and are looking to make a switch in your property management services, give us a call.

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