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Tenant Relocation Assistance Ordinance

From: domainremoved <Dan>
Date: Tue, 12 Feb 2019 00:28:46 +0000

Honorable Mayor Ray Mueller and Members of the Menlo Park City Council,

As a long-time rental property owner in Menlo Park, I am writing to voice my strong opposition to the "Tenant Relocation Assistance Ordinance" that is going to be discussed on the evening of February 12, 2019. This proposal may be well intended but I feel confident that it will have many negative unintended consequences. Here are a few of the reasons I oppose this proposed Ordinance:

  * This Ordinance will exacerbate the housing shortage because developers will shy away from building rental units in Menlo Park, thus driving up rental housing prices.
  * Rental properties may devolve into disrepair because Landlords will not be able to afford to renovate or rebuild because of the high burden of the requirements in the Ordinance.
  * We historically have not used such an aggressive formula for rent increases, however all landlords would be forced to consider maximizing the annual increases as suggested because of the down-stream costs of this Ordinance. This has the unintended consequence of raising the rental prices above the natural market rates.
Thank you for your consideration. We hope you will oppose this Ordinance as it does not benefit the community.

Best regards,

Dan Beltramo
Beltramo Enterprises, Inc.
E: danb_at_(domainremoved)
Received on Mon Feb 11 2019 - 16:25:04 PST

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