Alarcon Proposes Citywide Rent Hike Moratorium

He may have trouble staying in his own home, but City Councilman Richard Alarcon says he wants to make sure struggling renters can afford to stay in theirs. Today, he proposed a one-year moratorium on increases for rent-controlled units. Via the Daily News: "City law allows landlords to raise rents by up to 3 percent a year, regardless of whether their costs have increased. [Alarcon] estimated the one-year freeze could save families $300 to $500." Speaking out against the proposal was "Dan Faller of the Apartment Owners Association of Southern California decried the proposal as 'another example of mistreating landlords.' "They have been beaten on so much for so long, that this isn't a surprise," Faller said. "It also shows that the City Council has no idea on the economics of providing housing in this city."
· Alarcon: Stop increases on rent-controlled units for a year [Daily News]