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Measure H, East Palo Alto rent ordinance, passes

Original post made on Jun 9, 2010

East Palo Alto's rent stabilization and eviction ordinance, Measure H, was approved in Tuesday's election by a wide margin, according to the San Mateo County Registrar.

Read the full story here Web Link posted Wednesday, June 9, 2010, 9:23 AM

Comments (7)

Posted by Chris Lund, a resident of another community
on Jun 9, 2010 at 4:49 pm

Please visit www.epa-tenants.org for more information on the new Rent Stabilization Ordinance and Page Mill Properties.


Posted by Jim, a resident of Midtown
on Jun 9, 2010 at 5:06 pm

"A bank auction of the properties that day attracted no bidders."

"The annual increase can be 75 percent of the Consumer Price Index"

Why would any investor want to own apartments in EPA?


Posted by Sekou Black, a resident of East Palo Alto
on Jun 9, 2010 at 7:57 pm

@ Jim:
Because even though the property values have fluctuated over the last decade, when the crime goes down, property values rise like steam.


Posted by Hmmm, a resident of East Palo Alto
on Jun 10, 2010 at 2:00 pm

@ Jim - it's also an affordable place to be a landlord. If you go into it informed, you can get a decent ROI. The RSO is very fair to landlord of the mom & pop type who want to improve their investments. Landlords can partner w/the Rent Stabilization Board & the City & find good tenants.


Posted by Jim, a resident of Midtown
on Jun 10, 2010 at 9:13 pm

@Sekou and Hmmm

"Experts in the area predict that the likelihood of an individual or company purchasing the entire portfolio is very low (thanks to local rent control standards, among other issues), even considering the accessibility and central location of the Page Mill Properties"

Web Link

Nobody with an investment brain wants to own in EPA. What good is it that property values go up (in theory), if an investor cannot turn it into a profit? If the property is tied up in rent control (confiscation) issues, why own it in the first place?

Has Wells Fargo found a buyer yet? Wells Fargo inherited this turkey from Wachovia, and it wants nothing to do with it...can't even give it away. The bank should just give it all to the rent control board, as a gift (and take a tax write off), and wish them well in their new business venture.

Simply put, there is no ROI in EPA, so why bother investing in the first place?


Posted by Hmmm, a resident of East Palo Alto
on Mar 19, 2014 at 8:41 pm

Hmmm is a registered user.

Hah! Rereading this old thread, looks like Jimbo sure was wrong!


Posted by musical, a resident of Palo Verde
on Mar 20, 2014 at 12:56 am

[Post removed.]


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