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Keep in mind that what you describe does not describe the effect San Francisco's Rent Stabilization ordinances have on the SF housing market. I've written about
by simoncion 11y ago
Keep in mind that what you describe does not describe the effect San Francisco's Rent Stabilization ordinances have on the SF housing market. I've written about this at length, many times, but the summary of the most salient points:
* RS only applies to buildings built before ~1979.
* RS does not apply to buildings built after that date.
* RS only controls rent while one or more of the original tenants on the rent-rate-establishing lease occupy a controlled unit. Once zero of those tenants occupy that unit, rent can be set to any value.
* RS permits all sorts of passthroughs direct to the tenants in the building... city bonds, water bonds, capital improvements, maintenance cost increases, increases in the cost to service the landlord's debt...
The SF rent board's site has more details. [0] So does my comment history.
[0] http://sfrb.org/ http://sfrb.org/
- eru 11y agoInteresting. Thanks! > * RS permits all sorts of passthroughs direct to the tenants in the building... city bonds, water bonds, capital improvements, maintenance cost increases, increases in the cost to service the landlord's debt... Sounds like a good lawyer / accountant should make rent control toothless for the landlord?
- simoncion 11y ago> Sounds like a good lawyer / accountant should make rent control toothless for the landlord? Potentially, kinda, yeah. There are some limits (depending on how many buildings the landlord controls) on how much of an increase can be imposed how frequently [0], but if you're sufficiently nasty and clever, you could squeeze substantially more out of your tenants than a naive understanding of the RS ordinances would lead one to expect. [0] Though, for things like municipal bonds, legally mandated retrofitting, and water cost increases, there are -IIRC- no limits.