ONE BIG THING: CAPPING THE RENT AT 3%
What Happened?
The Housing & Homelessness Committee met this week to start considering a proposal to cap rent increases at 3% for every rent-stabilized tenant in the city.
Why it Matters
This could determine the rent next year for you and 1.1 million of your neighbors who live in rent-stabilized units in LA.
The Context
Our current system was designed over 40 years ago and allows rent increases up to 10% depending on the year and type of unit.
Even when inflation is ZERO, landlords can still increase rents by 3%! Because of that, rent hikes have outpaced inflation in 23 of the past 30 years.
The Impact
This has a disproportionate impact on the same people that represent the fast group of unhoused residents in the city: seniors.
Take a senior in 1986 who might pay $500 of their $600 Social Security check on rent. With inflation and our current system - their Social Security in 2020 would be $1,430, but their rent would be $1,610.
Instead of having 20% of their Social Security check to spend on other essentials, now it’s not even enough to cover rent. It's more than just unfair - it’s unsustainable.
What’s Next?
The Housing & Homelessness Committee will meet again as soon as October 15 at 2pm to consider this issue, and we encourage you to come in-person to provide public comment and make your voice heard.
In the meantime, follow @keeplahoused on Instagram for updates and actions.
Three More Quick Hits
- Coming Soon: A Bike-Powered Street Sweeper
Our Access to Hollywood bike lanes are making it safer and easier to get around Hollywood, but trash and leaves can often build up along the gutters creating a safety hazard, and traditional street sweepers are too big to fit in the bike lanes.
To fix this, we’re teaming up with Streets Are For Everyone (SAFE) to welcome a first-of-its kind bike lane street sweeper that will be powered by an e-bike.
This icon will be cleaning the bike lanes of Hollywood Blvd twice a month, but we need your help in naming our newest representative of clean and safe streets! Click here to help name Hollywood Boulevard’s new electric bike lane sweeper – you can submit your name before Wednesday, Oct. 8th!
Then, join us on Saturday, October 11 for the unveiling and naming ceremony for our new friend!