http://www.pressdemocrat.com/news/4930093-181/santa-rosa-motel-set-for?ref=TSM&artslide=0
The City of Eureka had this opportunity years ago and turned it down so because they would lose the Transient Occupancy Tax.
Tax used to contribute funding for Chamber of Commerce and Visitors Bureau, among others, who should be self sufficient.
Number one reason for homeless people on the streets. Greedy landlords and property management companies. Fix the gouging of rents and security deposits in Eureka and it will cut the number of homeless on the street.
This does not apply to all private landlords, but most.
If you don't pay big city wages, don't charge big city rent.
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ReplyDeleteAnd if the property management company cannot find you a rental in a timely manner they need to return their fee. Grateful I no longer need their service but I dropped a total of $60 of my hard earned money and every time I inquired about a property, it was spoken for...how unbelievable is that?
ReplyDeleteI have to disagree. Not with the merits of the plan, but on the general observation. I think that the issue by definition has to be beyond the landlords because if they were acting out of line with the market they would be punished financially. Basically they are getting what they are asking for so there is no incentive to lower prices.
ReplyDeleteSo to the point of why we have such high rents:
-a major portion of our economy diverts bedrooms and turns them into commercial units. Just a ten percent drop in available bedrooms strangles a housing market, which needs a careful balance between homeowners, renters, and available units.
It is also fair to say that the rooms which have been turned into grows are displacing renters disproportionately. And the current acceptance of outdoor grows was not in place just 5-10 years ago when indoor commanded the premium price, taking up even more rooms.
Interestingly this is also why I believe we avoided the massive housing bubble bursting: the units had inflated value due to demand out of normal markets. Look at the price trends during the pop, with humboldt contrasted against state and national. We were an anomaly that many property owners enjoyed perhaps with never being aware of it.