Week after week, there’s a new study about the life-altering consequences of sky-high rents or a new investigation about the destructive greed of corporate landlords. It may seem like a hopeless situation, but it’s not, especially in California. Voters can stabilize the housing affordability crisis and rein in predatory landlords by voting “yes” for the Justice for Renters Act in November.
A broad coalition of housing justice groups, social justice organizations, labor unions, and civic leaders have banded together to pass the Justice for Renters Act in California. In addition, activists and tenants have successfully passed rent regulations in such California cities as Concord, Pasadena, and Pomona – although they’ve been handcuffed because of statewide rent control restrictions.
The Justice for Renters Act, sponsored by Housing Is A Human Right and AIDS Healthcare Foundation, is a simple, 23-word initiative that ends restrictions and allows cities to expand rent control. When passed, local elected leaders can swiftly stabilize the housing affordability crisis through new rent control policies, prevent people from falling into homelessness, and quickly rein in predatory landlords, who only care about charging higher and higher rents to make outsized profits on the backs of middle- and working-class Californians.
The Justice for Renters Act, in other words, allows Californians to fight back – and to take charge of their futures. We won’t be victims of the greedy whims of corporate landlords anymore.
It’s an exciting opportunity for California voters. We can protect our grandparents and elderly parents on fixed incomes who can’t afford sky-rocketing rents; allow middle- and working-class families to save more money for their children’s futures, including paying for their college tuition; and help recent college graduates to gain their economic footing as they enter the workforce. Many others will be helped, too.
Instead, Californians can grab a golden opportunity to empower themselves and defeat corporate landlords by voting “yes” for the Justice for Renters Act. For once and for all, we can rein in Big Real Estate and no longer allow them to dictate our futures. In November, vote “yes” for the Justice for Renters Act, and tell your family and friends to do the same.
Instead, Californians can grab a golden opportunity to empower themselves and defeat corporate landlords by voting “yes” for the Justice for Renters Act. For once and for all, we can rein in Big Real Estate and no longer allow them to dictate our futures.
“As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed and demand a rent even for its natural produce.”
Report Bad Landlords to Local Authorities. Mind that in some bad neighborhoods, many slumlords rent illegal apartments without registration and health inspections. To deal with a slumlord who doesn't make major repairs, just get local building and health inspection authorities involved.
One common tactic landlords may use to exploit commercial tenants is imposing unreasonable rent increases. While some rent adjustments are natural over time due to inflation or changes in the market, landlords might exploit their position by raising rents excessively.
The economists' pro-rent control findings are backed up by key studies published by the University of Southern California, UCLA, and UC Berkeley, which found that rent control is a valuable tool to stabilize the housing affordability crisis and to prevent people from falling into homelessness.
He receives rent simply because he is the monopoly owner of the land and grants his permission for someone else to use it. Marx concludes that the payment the landlord receives cannot come from anywhere else but out of the product of unpaid labour, namely surplus-value.
Is rent seeking illegal? In general, competition for rents is legal, regardless of any harm it may do to an economy. However, various rent-seeking behaviors are illegal, such as the forming of cartels or the bribing of politicians.
A slumlord (or slum landlord) is a slang term for a landlord, generally an absentee landlord with more than one property, who attempts to maximize profit by minimizing spending on property maintenance, and to tenants that they can intimidate.
Financial concerns: New landlords may worry about the financial aspects of property ownership. Create a comprehensive budget, including mortgage payments, taxes, insurance, and maintenance costs. Set realistic rental rates that cover expenses and allow for profit.
Sources of income: For most landlords, this income mainly comes from net rental income, after expenses like property management fees, maintenance, mortgage payments, and taxes are deducted. Property management: Individual property investors own approximately 41% of the 48.2 million rental housing units in the US.
If tenants want to avoid landlord fraud, they should meet the alleged landlord at the property, ensure they have keys to the property, check the photo identification of the landlord, and make sure that name can be found on Google concerning the property.
Although rent control does decrease housing costs for some low income households, the savings from living in these units tends to accrue disproportionately to: 1) households who happen to be in the right place at the right time; and 2) households in higher income brackets with greater ability to secure and remain in ...
The California rent control law has been controversial since it was passed, with some arguing that it is necessary to protect renters from excessive rent increases and others arguing that it will discourage new investment in rental properties and lead to a decrease in the quality of rental housing.
Economic Contribution- Landlords that invest in properties often contribute to the local economy. After all, property ownership and management create jobs in maintenance, repairs, and property management services. Additionally, they pay property taxes, supporting local government services and development.
He argued that land is unique because it is fixed in supply and cannot be increased. As a result, the rent paid for the use of land is determined by its scarcity and fertility. Smith believed that landowners were entitled to the rent because they had invested in the land's fertility and made it more productive.
Smith argued that by giving everyone the freedom to produce and exchange goods as they pleased (free trade) and opening the markets up to domestic and foreign competition, people's natural self-interest would promote greater prosperity than could stringent government regulations.
Adam Smith's writings influence economics today as he believed wealth is created via labor, and self-interest spurs people to use their resources to earn money. Smith's theories that economies thrive with competition, capitalism, and a free market are alive and well in the 21st century.
Adam Smith's 3 laws of economics are Law of demand and Supply, Law of Self Interest and Law of Competition. As per these laws, to meet the demand in a market economy, sufficient goods would be produced at the lowest price, and better products would be produced at lower prices due to competition.
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