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(y) Landlords have greater incentives to induce tenants in rent -stabilized units to vacate. In jurisdictions with rent stabilization ordinances, many landlords offer cash buyouts in exchange for tenants vacating rental units. Many of these buyout negotiations are not conducted fairly and landlords sometimes employ high-pressure tactics or intimidation to induce tenants to sign agreements. Legislation is needed to promote fairness in buyout negotiations and agreements by requiring landlords to provide tenants with a statement of rights and allowing tenants a 30-day period during which they may rescind the buyout agreement in order to give tenants sufficient time to seek advice. This Legislation will help ensure that the City of Santa Ana meets its goals to increase opportunities for extremely -low, very -low, low-, and moderate -income individuals and families to find diverse and quality housing in the City of Santa Ana. (z) Furthermore, tenants who are displaced by landlord actions are subject to serious adverse impacts. Such actions can include evictions, which impose unfair burdens on tenants when they are evicted through no fault of their own. The financial impacts of displacement include, but are not limited to, packing, moving, temporary housing, application for new housing, and storage costs, as well as lost wages and time due to taking time off work. Additionally, landlords often require that prospective tenants pay the equivalent of three months' rent up front to secure a lease —generally representing the first and last month's rent, and a security deposit. The total accumulated cost imposed on a displaced household generally exceeds $10,000 and can frequently reach $20,000 or greater. Tenants who are seniors, persons with disabilities, or have children incur even higher costs due to their particular circumstances. School -aged children who are evicted from their homes often miss school; transitioning to new schools also interrupts their education. Low- and moderate -income tenants cannot afford such sudden and costly expenses, and they often experience homelessness as a direct consequence of eviction, which itself imposes further financial, social, health, and emotional costs. The severe financial impacts of displacement on tenants pose a threat to the public health, safety, and welfare of the residents in the City of Santa Ana. (aa) The City of Santa Ana does not currently restrict rental increases or grounds for eviction. In a recent poll of 1,000 Santa Ana residents conducted by Tenants United Santa Ana, 45% said that they either have been recently evicted or know someone who has recently been evicted. Residents have been unfairly evicted so that landlords can take advantage of the current housing shortage in Santa Ana and raise rents. Many tenants do not understand what their rights are in an eviction case and how they may get help if they believe their landlords are violating their rights. Gentrification is rapidly rising in Santa Ana, with an estimated dozens of new luxury buildings developed in the last five years, and landlords can currently evict tenants to make way for newer buildings without any compensation to the renter. According to data from Eviction Lab, in 2016, Santa Ana was ranked number 16 of 57 in the most evictions by any city in the state of California. 10