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Opposition to Proposed Relocation Assistance Measure

From: domainremoved <jesshilllove_at_>
Date: Mon, 11 Feb 2019 16:46:43 -0800

Dear Mayor Mueller and Members of the City Council,

 

The following is respectfully submitted in opposition to the proposed "rent
control" measure, proposed as housing relocation assistance. To be clear,
any form of proposed limitation or restriction falls under the ambit of
"rent control"- it derails the free market economy. They all have the same
impact in the end, increased rents for your constituents.

 

I am sure that you have received countless emails and calls at this point in
opposition to this proposed program. I would like to respectfully submit
the following with a few links to economists that have opined upon rental
control measures and their impact upon the community. In summary (and then
I will let the economists speak for themselves), rental restriction programs
like these simply do not work. In fact, they just cause rents to increase
and in many circumstances soar! To be honest, many landlords simply smile
and remain silent when these types of programs are discussed and imposed
because they know that in the end, their rent rolls will increase. Simply
take a look at rental control markets such as New York and San Francisco to
name two of the oldest and largest-these rental markets are out of control
due to rental control measures.

 

As a landlord for over twenty years and a practicing real estate attorney, I
do not agree with this. I believe that what we should be doing is looking
to do what is best on behalf of all involved, landlords, tenants, and the
community alike. If you have not taken the time to fully study the issue,
it may surprise you that rent control actually hurts tenants terribly in the
long run. Simple supply and demand economics drive this market. More
supply, lower price, less supply, higher price. To solve this problem,
density levels and accelerated approvals for building applications will be
critical. Imposition of rental control measures will only make it worse.
Any form of rent control measures, price ceilings, relocation programs, ect.
will impact future building efforts by builders to build more housing. In
short, they will simply go elsewhere.

 

But don't take my word for it, let's listen to the experts, here are a few
links to Youtube videos with economists and experts and data to support that
rent control measures always fail:

 

https://www.youtube.com/watch?v=hMkvmZK3AJ4

 

https://www.youtube.com/watch?v=oJvTTGOHFkU
<https://www.youtube.com/watch?v=oJvTTGOHFkU&t=22s> &t=22s

 

https://www.youtube.com/watch?v=ZrNKHCCVfB8

 


In the end, I hope that you will do what is right for our community. I have
lived in Menlo Park all my life as have my parents and family. We all want
what is best for all-a well informed and socially/economically viable
solution. Not simply a knee jerk reaction in response to those who happen
to make the most noise.

 

Sincerely and respectfully submitted,

 

Jesshill Love, III Esq.
Received on Mon Feb 11 2019 - 16:42:59 PST

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