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Orozco, Norma From:Nathaniel Greensides <mynci90@gmail.com> Sent:Thursday, November 11, 2021 3:07 PM To:eComment; Ridge, Kristine Subject:Fwd: Tenant Issues - 1013 S Standard Ave This is a non-agenda item for the upcoming City Council meeting on November 16th. At the November 2nd meeting, Councilmember Mendoza had asked for a presentation regarding the impacts of Rent Stabilization. I wish to offer this communication we had before the November 2nd meeting. Sincerely, Nathaniel Greensides Ward 5 resident ---------- Forwarded message --------- From: Nathaniel Greensides <mynci90@gmail.com> Date: Wed, Oct 13, 2021 at 12:56 PM Subject: Re: Tenant Issues - 1013 S Standard Ave To: Mendoza, Nelida <nmendoza@santa-ana.org> Thank you for providing those clips to me. I have actually watched one of them in the past. I don't personally have the capacity to translate the contents of the videos into Spanish. I would like to make some clarifications and counter arguments to those posed in the videos you sent me. My points below are pretty long, so feel free to read at your leisure. I am open to a meeting with you. It would be on a personal level and not on behalf of the coalition. Best regards, Nathaniel "the problem with rent control is that it ultimately manipulates supply and demand and ends up creating a self destructing chain reaction in the rental market. Whenever the government caps rental prices, demand skyrockets." Supply and demand may be affected by any government policies. However, the demand will remain largely unaffected - especially in highly desirable cities such as ours. With rent increases stabilized, a huge swath of current residents will cease their search for a new place to live. Thus the local rental market may largely remain unaffected. Currently, long term residents have to compete against non-Santa Ana residents just to ensure they can remain a part of our City. "Artificially low prices attract more renters so the newly rent controlled units get snatched up quickly." Newly vacant units can be rented at market rates under California state law existing since 1995 called Costa Hawkins. Any artificially low price is the choice of the individual landlord or property owner upon new vacancy. Additionally, the two ordinances proposed here in our City allow for individual petitions should the stabilized max of three percent be insufficient for maintenance and upgrades. Newly rent controlled units - again, upon vacancy, the LL can rent at local market rates, not previous rate as paid by former tenants - will get "snatched up" as quickly as non-rent controlled units in the city due to the sheer fact that the supply of housing in our highly desirable City is so low. "Where the problem begins is that by restricting rental prices, LLs inevitably decide it isn't financially feasible to rent units under rent control." Neither the ordinances nor any rent control laws in the USA restrict rental 1