Don’t laugh. The idea is being floated around in San Francisco.
Chris Daly plans to introduce a series of new laws that’s intended to help renters during these tough economic times — a proposal that is likely to anger landlords.
The proposals include the suspension of any rent increases that would cause a tenant’s rent to exceed one-third of their income; expansion of the rights of tenants who want to add roommates to help pay their rent; and limiting the amount of “banked” rent increases — where annual rent increases allowed under city laws are saved up and then imposed at one time — to 8 percent.
Ted Gullicksen, head of the San Francisco Tenants Union, said the package will help the large number of renters that are being laid off or having their pay cut.
“Almost half the people in America are renters, and two-thirds of San Franciscans. In all the talk about the economy, nobody is paying attention to the plight of renters,” he said. “People who are being evicted for nonpayment of rent are ending up homeless.”
We’re still waiting to hear the reaction from some of the associations that represent landlords in San Francisco. But the mayor’s office, cited by Gullicksen as one of the biggest hurdles, seemed open to the idea.
“Renters deserve relief too, and these are interesting ideas that are worth looking at,” spokesman Nathan Ballard said.
Source: San Francisco Chronicle
Your thoughts should the govt help Boston renters with a bailout?
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
Charles River Park
Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114
- Boston condosBoston downtown real estate interest rates
- Boston condosBoston condos for sale: 15 Selling tips for condos that won’t sell
- Boston condosFor Boston downtown real estate buyers: What is PMI? How can you avoid it.
- Boston condosPurchasing Boston downtown real estate? Learn about Title Insurance