The Inglewood City Council today will hold a public hearing at 2:00 p.m. to discuss extending its temporary rent control moratorium, despite its own evidence suggesting negative long-term impacts on the housing economy.
If you can attend the Inglewood City Council today at 2:00 p.m., this will be Agenda Item No. PH-1 at the Council Chambers located at One Manchester Blvd. in Inglewood. If you cannot attend then call the Council members today and ask them to vote NO for rent control:
|Dotson, George||City Councilman – District 1||310-412-8602|
|Franklin, Ralph||City Councilman – District 4||310-412-8605|
|Morales, Jr., Eloy||City Councilman – District 3||310-412-8603|
|Padilla, Alex||City Councilman – District 2||310-412-8601|
On March 5 of this year, the City Council passed the “Housing Protection Initiative” which among other things limits rent increases to 5% per year on certain eligible properties. On April 16, the Council may vote to extend that rent limit an additional 60 days.
In the staff report is a buried study from UC Berkeley researchers on the purported benefits and risks of rent control. The study finds that:
- Existing tenants may be 10-20% more like to stay in their units
- At the same time, housing providers would reduce the supply by 15%
- There would be a 25% decline in renters due to reduction in supply
This not the strongest argument in favor of rent control. The Inglewood City Council should not rely on such poor results to enact a flawed policy that will not work.