Community, Diversity, Sustainability and other Overused Words
Tenants celebrate, landlords bemoan loss of rents as State of California struggles to figure out how to distribute $5 billion in Federal Funds
Hours before California's eviction moratorium was set to expire, the State Legislature extended renter protections through the end of June. The extension only applies to tenants impacted by COVID who applied for rental assistance by Thursday, March 31.
This three-month extension is intended to give the state enough time to distribute $5 billion in federal funds intended for landlords, while tenants remain in their homes. California received the funds last May.
Landlords and property owners across California have come out in staunch opposition to extending the moratorium through June.
The California Rental Housing Association said in a statement:
"This is now the fourth proposed extension of the eviction moratorium. Enough is enough. Some of our members have not received rental income for more than two years and can no longer make ends meet."
Many tenants say they would not be able to make ends meet if they had to move. Cities including Los Angeles and Santa Monica have rent control laws. Tenants who move would almost certainly face high rents.
The inflation that has affected everything from food prices to gasoline will also result in higher rent prices, most experts say. In Santa Monica, developers and the City itself have constructed over 5000 rental units in the last year, mostly along Lincoln Blvd. Most of these however, remain empty.
"There is a disconnect between what people can pay for the units and what land owners demand," said one tenants rights advocate, attorney James Darling. "Only when the economics come back into line through a combination of construction and emigration from LA County, will rent prices stabilize and reflect the true rental value of an apartment unit."
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