Westside Rental Property Owners Meeting

ATTENTION WESTSIDE GROUP:

Propositions 33 and 34, and Other November Ballot Initiatives
Featuring AAGLA Executive Director, Daniel Yukelson
Join us for an overview of the November ballot initiatives and an in-depth discussion on Propositions 33 and 34.

Here we go again—Proposition 33 should seem very familiar to us all.

That's because nearly 60% of California voters rejected the same flawed scheme in 2018 (Proposition 10) and again in 2020 (Proposition 21). Seniors, veterans, and affordable housing experts all oppose Proposition 33 because it will make the housing crisis far worse. If Proposition 33 passes, the following will occur:

• Local jurisdictions can eliminate your right to increase rent to market following a tenant's vacancy—so-called "vacancy control" like in New York City.
• Costa-Hawkins, the state law exempting new development, single-family homes, condominiums, and ADUs from rent control, will be eliminated—even a bedroom rented inside your home may fall under rent control.
• All residential rental properties may fall under local rent control ordinances. Local governments will have the power to impose low annual rent caps and increase fees.
• Property owners could lose 40% or more of the equity in their rental properties based on the experience in New York City.
• Property values and tax revenues will decline, reducing funding for schools and emergency services—leading to more taxes.

Don't miss this important Westside meeting on Tuesday, October 22nd at Mount Olive Church in Santa Monica.
This is your chance to hear the latest polling on Propositions 33 and 34, and learn about the other ballot measures.

• Time: 6:00 P.M. – 8:00 P.M. on Tuesday, October 22, 2024 (Note: 1-hour earlier start time)

Location:

Mt. Olive Lutheran Church
1343 Ocean Park Boulevard
Santa Monica, CA

How to Attend: This is an in-person meeting only. There will not be a Zoom option. This meeting is FREE to AAGLA members and prospective members. Limited spots available—please register today.
Questions? Contact Events Manager, Diana Alcaraz, via email at diana@aagla.org.

Here's Why We Must VOTE NO on Proposition 33

Proposition 33 is being funded by a slumlord.
It was initiated and is being bankrolled by Michael Weinstein of the AIDS Healthcare Foundation (AHF). The Los Angeles Times describes Weinstein as a "slumlord" with a long record of health and safety violations. Lawsuits and tenant reports have exposed issues ranging from broken elevators to pest infestations. Despite receiving billions in taxpayer dollars meant for healthcare, AHF has diverted funds to build a real estate empire, while tenants live in substandard conditions.

Proposition 33 is a Trojan Horse.
It could overturn more than 100 state housing laws, including those that support affordable housing construction and protect tenant rights. It may even limit the Attorney General’s enforcement abilities. Housing experts warn it will worsen California’s crisis, reduce construction, and push prices higher.

Proposition 33 eliminates homeowner protections.
It allows regulators to tell homeowners how much rent to charge—even for a single room. Millions of homeowners would be treated like corporate landlords under bureaucratic rent control.

Proposition 33 weakens renter protections.
It undermines California’s statewide rent control law (AB 1482) and fails to protect renters.

Proposition 33 reduces property values by 40% or more.
MIT and New York data show that extreme rent control can lead to 25–40% reductions in property value. California can’t afford to take another economic hit.

Proposition 33 offers no protections for seniors, veterans, or the disabled.

It is opposed by a broad, bipartisan coalition, including:

• California Small Business Association
• California Senior Alliance
• California Conference of Carpenters
• California YIMBY
• California Chamber of Commerce
• Senate President Pro Tem Emeritus Toni Atkins
• NAACP
• Assemblymember Buffy Wicks
• Marine Corps Veterans Association

We MUST demand real solutions—not recycled policies that worsen the crisis. VOTE NO ON PROPOSITION 33!

Now Here's the Most Important Part – HERE'S HOW YOU CAN HELP!

Please give your strong support by contributing what you can. The cost of losing at the ballot box could mean hundreds of thousands in lost income and equity. Give generously—funds are needed now.

By Check:

AAGLA Issues PAC - Against Rent Control
c/o Reed & Davidson, LLP
Attn. Cary Davidson, Treasurer
515 S. Figueroa Street, Suite 1110
Los Angeles, California 90071

Via Online Credit Card:

Website: www.AAGLA.org/IssuesPAC

THE INFORMATION PROVIDED DURING THIS PRESENTATION IS FOR GENERAL INFORMATION PURPOSES ONLY. ABSOLUTELY NO LEGAL OR TAX ADVICE IS BEING GIVEN. EVERY SITUATION IS UNIQUE, AND LAWS MAY CHANGE. PLEASE CONSULT A LICENSED PROFESSIONAL BEFORE ACTING.

Moderator/Speaker:

Daniel Yukelson, Executive Director
Daniel Yukelson is the Executive Director of the Apartment Association of Greater Los Angeles (AAGLA). A Certified Public Accountant, he began his career at Ernst & Young and served as CFO for multiple companies including Premiere Radio Networks and Oasis West Realty. He is also a former Planning Commissioner for the City of Beverly Hills.

Seminar Registration Ticket Price: Admission Ticket $0.00
REGISTRATION ENDS: October 22, 2024