Rent Control to be Imposed in Culver City
With Assembly Bill 1482 threatening to impose statewide rent control in California, cities throughout the state have been considering establishing rent caps independent from the statewide bill. Culver City is the latest city to evaluate the plausibility of introducing rent control.
On Monday, June 24th, the Culver City City Council had a public meeting to discuss a temporary “Rent Freeze.” The rent freeze is thought to be the first step towards adopting more permanent rent control measures throughout Culver City.
According to LAist.com, over 100 Culver City residents signed up to speak on the item Monday night. The meeting resulted in a 4 to 1 vote to assign city staffers to construct the plans for implementing a rent freeze. The rent freeze is to be finalized by the city council at a later date.
Potential terms of the rent freeze include:
Invalidating rent increases after April 23rd, 2019
Limits on just cause eviction protections
Implementing relocation assistance equivalent to three times the monthly rent and an additional $1,000
Enforcing rent control in Culver City is a direct strike against property rights and will negatively affect property owners in the area. Many mom-and-pop investors have chosen to specifically invest in property in Culver City for the simple fact that it does not have rent control on the books.
Culver City is expected to experience a boom in job opportunities, with Apple planning to hire 1,000 employees and Amazon planning to move its studio production branch into the city within the next three years. With a population of just over 39,000 people and about 17,500 housing units, Culver City is experiencing a large imbalance of jobs and housing.
Implementing rent control is a flawed solution to the imbalance of housing. Culver City has proven great economic opportunity and provides high-quality jobs. The city is in desperate need of new development to keep up with the inflow of employment. Imposing rent restrictions will likely cause investors to stray away from new development in the area because they will not be able to receive an adequate return on investment. This will only worsen the housing to employment gap and will cause more pressures on the city to implement future plans to mitigate the problems rent control will cause.
What can you do?
Let your voice be heard! Email the Culver City Council members today and let them know how rent control will negatively affect you!
Mayor: Meghan Sahli-Wells: firstname.lastname@example.org
Vice Mayor: Goran Eriksson: email@example.com
Council Member: Alex Fisch: firstname.lastname@example.org
Council Member: Daniel Lee: email@example.com
Council Member: Thomas Aujero Small: firstname.lastname@example.org