no-bailout-for-you2

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?

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