Real Estate/Development,
Government
Jun. 1, 2020
Proposed help for renters would be devastating, landlords say
If a landlord owns 10 or more units, he or she is automatically assumed to have suffered no hardship under AB828, the California Apartment Association says.
As the Legislature tries to keep renters and lessees afloat during the economic shutdown, property owners say proposed measures are skewed against landlords, both commercial and residential.
If enacted, the bills would shift the economic burden in one direction, leading to unpaid mortgages, foreclosures and ultimately lower stock prices for banks, whose shareholders are regular folks, they argue.
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