Last week the Los Angeles City Council voted NO on a motion of freeze rents for six months on all apartments subject to the Los Angeles Rent Stabilization Ordinance. The vote came in 10-5 against the rent freeze with Council Members Cardenas, Garcetti, Koretz, LaBonge, Parks, Perry, Reyes, Smith, Rosendahl and Zine all voting against the rent freeze.
For property owners saddled with LADWP rate hikes, increasing vacancy rates, and decreased revenue, the freeze could not have come at a more inopportune time. Luckily the Los Angeles City Council realized the drastic negative effects a freeze would have on apartment building owners and voted NO on the motion.
If you own a property in Los Angeles and are curious what it could rent for please contact us today. Pacific Shore Property Management specializes in the management of small to mid-size properties in the greater Los Angeles area. We are your Los Angeles Property Management Company!
Call us toll-free today at (877) 477-7652
or visit us online at www.PSPMLA.com
Posts
No comments:
Post a Comment