Match with Us: Partner to Oppose the Rent Control Ballot Initiative
We’re Looking to Meet Our Match to Oppose the Rent Control Ballot Initiative
This November, the “Justice for Renters Act” will be on the ballot. If passed, rental housing providers and residential property owners will face the worse kind of local rent control not seen here in California since 1995. We know we can defeat the “Justice for Renters Act” because we know our opposition arguments are strong, but it takes money to communicate these arguments to voters. Across the state, we need to raise $80-$90 million in order to defeat the ballot initiative.
Matching Opportunity
Will you be our “match”?
A generous donor has agreed to match up to $100,000 in contributions made to our Issues PAC to support the opposition campaign. PLEASE…help us to achieve our fundraising goals by contributing generously to our opposition campaign. Help us to obtain each and every dollar of available matching funds…let’s not let even one dollar go to waste.
What Is At Stake?
Here’s what is at stake if the Justice for Renters Act is passed this November:
- Local jurisdictions could eliminate the right to charge market rate rent following a tenant’s vacancy, or in other words, we will have “vacancy control” in place like the City of New York.
- Several jurisdictions like West Hollywood, Berkeley, Santa Monica, and others have already passed ordinances that will eliminate vacancy de-control if the Justice for Renters Act is passed.
- Costa-Hawkins, a state law that exempts from rent control new residential development, single-family homes, condominiums, and accessory dwelling units will be eliminated.
- All residential rental properties of any type may fall under local rent control ordinances.
- Local jurisdictions will have the right to impose low annual rent “caps” on properties that today are exempt or covered under state rent control (Tenant Protection Act, or Assembly Bill 1482).
- Assuming the experience in California is the same as New York City, property owners can expect to lose 30% or more of the equity in their rental properties according to Wall Street Journal reports.
Vacancy "De-Control"
Here’s an illustration of how bad things may look if “vacancy de-control” is eliminated, or in other words, we lose our right to raise rent to market after a vacancy
Who is Michael Weinstein? Weinstein grew up relatively poor in New York City in a rent-controlled
apartment. He believes in rent control and feels everyone should live in socialized housing. He once
taught Socialism at the college level before founding AHF, which is one of the largest pharmaceutical
distributors in the U.S. today, run as a non-profit organization, and most funded through tax dollars for
AIDS healthcare and research.
Weinstein also owns rental property that he makes available to low-income renters. However, the Los Angeles Times recently declared that Weinstein is a “slumlord” after the newspaper’s investigation exposed deplorable conditions in the apartments AHF operates. In addition, the California Legislature significantly cut AHF’s funding because of what had been characterized as despicable, political tactics. Over the past 10-years, Weinstein has filed 100’s of lawsuits against drug companies, property owners, and others, and he once attempted to pass a moratorium on any type of commercial construction within the City of Los Angeles.
Enough is Enough! We need to put a stop to the endless cycle of multi-million-dollar attacks on property owners by Weinstein, who is someone that has been dubbed a REAL slumlord. PLEASE HELP US!... Can we count on you to contribute today to help defeat Michael Weinstein and his "Justice for Renters Act” ballot initiative?
To defeat this latest attack by Weinstein, we need to once again raise approximately $80-$90 million. We did this twice before, and our arguments against the initiative are solid, but we cannot make these arguments known to voters without a expansive online and broadcast media campaign along with grass roots efforts.
Now Here’s the Most Important Part…
YOU CAN HELP US! Please give us your strong support by contributing $50-$100 per unit. If this is too much, please help us by giving what you can. The cost of losing at the ballot box is far more than a few hundred or a few thousand dollars today…the outcome could cost each of us hundreds of thousands of dollars in lost rental income and equity value of our investment properties.
Please give generously…funds are needed as soon as possible.
We’ve Been Successful Before!
With the past two very similar ballot initiative attempts, with the generous support of our members and property owners throughout California, we were able to resoundingly defeat these attacks by approximately two-thirds margins. Your financial support can help us to do this once again and successfully preserve vacancy de-control once again.
Contributions to Issues PAC of Apartment Association of Greater Los Angeles are not tax deductible.
Ad paid for by Issues PAC of Apartment Association of Greater Los Angeles
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