Funny

A 3% rent increase on a $2600/month one bed one bath is $78/month, which over a 12 month lease is still an additional $936 for doing literally nothing. But all of this is irrelevant because $2600/month for an apartment was already way overpriced to begin with. L.A. county could force them to lower rents 3% and they’d still be making an obscene profit. And if these landlords sell, what are they going to do after that? Get real jobs? Not likely. It’s a total bluff. People choose to become landlords because they don’t want to work. Capping rent hikes at 3% would still allow them to not work, so they’re not going to suddenly sell of their assets and do something else. Also landlords (especially the big ones - companies such as Greystar/Cortland/Lincoln) invest with the ultimate goal of selling the buildings. That’s where the real money comes in. So they’re going to sell no matter what lukewarm rent regulations are put in place.