At almost 30 years of age, L.A.'s rent control ordinance is a double-edged sword -- reviled by some and relied upon by others.
"Nearly half of L.A. renters spend more than 40 percent of their income on housing and 29 percent spend more than half. Of the city's 780,000 rental units, the Rent Stabilization Ordinance covers 550,000 that had a certificate of occupancy issued on or before October 1, 1978."
"'These units,' said Malcolm Bennett, president of the Apartment Assn., California Southern Cities, 'are more a pain in the neck than they're worth,' yet '...the original idea of preserving inner-city housing and keeping costs down was admirable.'"
"Aside from Los Angeles, Santa Monica, West Hollywood and Beverly Hills, no other areas in Los Angeles County mandate rent control. There are no rent stabilization ordinances in Orange, San Bernardino or Riverside counties. In Ventura County, the Thousand Oaks ordinance covers a small number of tenants who moved into their apartments in 1987 or before."
"Without rent control, the average market-rate rent for apartment ranges from $1,485 in central Los Angeles, to $2,079 in the West LA area, which includes Santa Monica, Beverly Hills and the Westside."
"But say tenant advocates, 'Los Angeles is a city of renters, and without rent control, the workers who keep the city running couldn't afford to live here. Eventually senior citizens, teachers, social workers, won't have a place to go and Los Angeles will become an elitist city.'"
Thanks to D.A. Varnado, AICP
FULL STORY: Two Sides of A Coin
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