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Feb 16 07 09:14a Wayne Carr 714-964-6273 p.1 <br />May 4, 2020 <br />Attn: Santa Ana City Council Members <br />RE: Rent Control Measures <br />Dear City Council Members <br />I'd like to give you a "ground floor" prospective on controlling rentals or reducing rents. <br />As an owner of 5 four unit buildings in Orange County for 30+ years let me give you an <br />idea how a rent control bill currently at the State level would effect me. That particular <br />bill ABS28 in part would reduce rents by 25%. This is not your bill but what it does is a <br />good example. <br />Comparing my 2019 P&L on my rentals, a 25% rent reduction would take my net rental <br />profit from $114,069 to $4,669. Considering that the $114,069 represents 80% of my <br />total annual income, it would be devastating. <br />As a long time landlord, I've always work with any tenant who had a cash flow problem, <br />My job is to keep tenants, not kick them out. Many of my tenants <br />10 years. have been with me for <br />I urge the City Council to "tread lightly" in trying to control a segment of the economy. <br />Sincerely' <br />f� <br />Y eG rGr Ct. <br />18867 San Felipe St., <br />Fountain Valley, Ca., 92706 <br />E: wearr777@msn.com <br />Cell: 714-746-0332 <br />