Posted on 09/23/2024
BY THE NUMBERS: RENTING IN LA
Nearly a year ago, we introduced a motion with Councilmember Bob Blumenfield to initiate an independent study of our rent control policies in LA so we can make changes to help working Angelenos.
Recently, the Economic Roundtable released their independent report, highlighting how, for decades, LA's rent control policies have favored landlords at the expense of working families.
By the Numbers
• 250,000 Angelenos spend over 90% of their income on rent, leaving them extremely vulnerable to homelessness.
• More than 1.5 million renters in LA are rent-burdened, meaning they spend more than 30% of their income on rent. That’s 59% of all renters!
• While overall inflation increased by 21% between 2010 and 2020, rents in rent-stabilized apartments were allowed to increase up to 36% during the same period.
• On average, about one-third of your rent goes to operating expenses for apartment buildings, including insurance and utilities. The rest goes toward profit and mortgage payments.
Building A Fairer System
We support a policy proposal from tenants aimed at creating a more balanced policy for renters while still allowing landlords to turn a profit:
- Cap rent increases at 60% of inflation, or 3%, whichever is lower – with no minimum rent hikes. This prevents extreme rent increases while ensuring that if the cost of living remains stable, so should your rent.
- Close the loophole that imposes higher rent increases on tenants whose utilities are included in rent – a key recommendation from the independent report.
What's Next?
In the coming weeks, the Housing Department will present their report to City Council, where the Housing & Homelessness Committee will recommend exact policies for the full City Council to vote on.
If you don’t want to wait to make your voice heard, submit a public comment by clicking the pen and paper that says “new” on this website.
Two More Quick Hits!
1. Councilmember Marqueece Harris-Dawson succeeds Councilmember Paul Krekorian as Council President
The Council President is often regarded as the second most powerful role in city government, overseeing committee assignments, scheduling legislation, managing debates, and more.
One of Council President Harris-Dawson’s key goals is to make LA the first city where people can quickly dial a professional unarmed responder for help – offering a compassionate alternative to traditional police and fire services.
Thank you Councilmember Paul Krekorian for your service, and best of luck to Council President Harris-Dawson in the new role!
2. Hollywood Boulevard Street Design Feedback
Now that phase 1 of Access to Hollywood is complete, the Department of Transportation is looking to make improvements to the nightmare intersection of Hollywood Blvd, Sunset Blvd, Hillhurst Ave, and Virgil Ave.
You can see the proposed changes below, and click here to submit feedback about this intersection or any part of the Access to Hollywood plan!
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