Meet Local Housing Providers – Ann

“The original purpose of the rent control program was to enable renters to feel secure so that they would not be subject to large and unreasonable rent increases. But, it goes too far when it makes rent-controlled rental property owners the scapegoats for problems caused by a shortage of housing.”

Name: Ann

How long have you owned rental property? 6 Years

How many units do you own? 24 units

What neighborhood? Laurel District in Oakland

Owner/occupied? No

What do you like most about owning property in Oakland?  It’s near my personal residence.

How would you describe your relationship with your renters? Professional

What concerns you most about the renter-proposed initiatives being considered in Oakland? They’re all outrageous. They do not address the core problem, which is a shortage of units in the Bay Area. I have no interest, as an individual, in being perceived as the person responsible for subsidizing a renter’s housing needs because of the housing shortage, and that is exactly what renters are expecting of me personally.

What is the most difficult part about being a property owner in the city?  The Rent Adjustment Program in its entirety.

Any other comments? I think that the public needs to be educated to the fact that rent-controlled rental property owners are being unjustly singled out.  They own approximately 56% of the rental housing stock, and the renter-proposed initiatives being considered by Oakland do nothing to control rent for the other 44% of the city’s housing stock. Rent-controlled property owners own rental buildings built before 1983, and they are forced to defer maintenance because of low rents. The non-rent-controlled buildings are newer and can afford to keep up with maintenance. The original purpose of the rent control program was to enable renters to feel secure so that they would not be subject to large and unreasonable rent increases. But, it goes too far when it makes rent-controlled rental property owners the scapegoats for problems caused by a shortage of housing. The CPI rent increase allowed by rent control is not a true rent increase, it merely attempts to keep up with cost of living increases and inflation, and doesn’t account for repairs and maintenance.  The mom-and-pop rental operations are being squeezed out of business because of low rent-controlled rents, and are being forced to sell to larger property owners and corporations.  In order to be a successful property owner in Oakland you need to own multiple buildings, with a mix of rent-controlled and non-rent-controlled buildings so that costs can be spread out, and a reasonable return can be brought in by the non-rent controlled-units.