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Orozco, Norma <br />From: <br />Phil Schaefer <philschaeferl@gmail.com> <br />Sent: <br />Tuesday, October 05, 2021 3:45 PM <br />To: <br />eComment <br />Subject: <br />Rent control is a bad idea <br />Rent control has proven to work against the very people you are trying to help. <br />Rents are higher in every rent control city vs Santa Ana. SF, LA and Santa Monica all have much higher rents than we do. <br />Why rush this? Shouldn't a prudent leader at least study this and gather facts? <br />Better to be judged on a well debated new law vs one rushed through. <br />Economists agree this approach reduces available rental stock creating even less supply. <br />Rentals are a supply and demand business. We have built 1,000's of new apartments and that is already having a <br />downward pressure on rents. <br />Why now? Tenants have not availed themselves to the massive assistance offered by the influx of Covid funds. If the <br />situation was urgent or dire these funds would have been exhausted but we have an abundance of help for those who <br />need it. <br />Rent control disincentives landlords to maintain, repair or improve their units. <br />Please do not rush this decision. <br />Respectfully, <br />PHIL SCHAEFER <br />Realtor <br />714-514-1121 <br />PhilSchaeferl@gmail.com <br />PhilSchaefer.com <br />Lic #01039787 1 Lic #00745605 <br />2019 RPAC Hall of Fame inductee <br />Past President of Pacific West Association of Realtors NAR Director CAR Director <br />