return2ozma@lemmy.world to News@lemmy.world · 2 months agoL.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sellwww.latimes.comexternal-linkmessage-square309fedilinkarrow-up1811arrow-down111file-text
arrow-up1800arrow-down1external-linkL.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sellwww.latimes.comreturn2ozma@lemmy.world to News@lemmy.world · 2 months agomessage-square309fedilinkfile-text
minus-squarejordanlund@lemmy.worldlinkfedilinkarrow-up4·2 months agoYup, it incentivizes the landlords to maximize increases. I bought a house in October of '21, I had been renting an apartment for $1,800 a month. My mortgage is just over $2,000 and is locked in for 30 years. I looked up my old apartment for funsies recently… $2,300 a month. Which tracks… $1,800 in 2021. 2022 - 9.9% increase +$178.2 = $1,978.2 2023 - 14.6% increase +$288.82 = 2,267.02 2024 - 10% increase +$226.70 = $2,493.72
Yup, it incentivizes the landlords to maximize increases.
I bought a house in October of '21, I had been renting an apartment for $1,800 a month. My mortgage is just over $2,000 and is locked in for 30 years.
I looked up my old apartment for funsies recently… $2,300 a month.
Which tracks…
$1,800 in 2021. 2022 - 9.9% increase +$178.2 = $1,978.2
2023 - 14.6% increase +$288.82 = 2,267.02
2024 - 10% increase +$226.70 = $2,493.72