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C RIAIF.STAiIR 15020 OQrrgnCq Pkwy, Suite 100 Irvine, CA 92618 CA BRE Ucense # 00881503 February 6, 2018 Dear Mayor Pulido and members of the Council, Thank you for the opportunity to discuss the topic of rent control. Since we own nearly 1,400 apartment units in the City of Santa Ana, I feel that we might be able to share an applicable view of the apartment challenges in your City. This information might help you to understand that a rent control initiative could result in grave results that will undermine the positive progress made by your Council to date. The properties in Santa Ana that Advanced partnerships own are: Villa Del Sol (562 units), Park Plaza (242 units), Artists Village (204 units), California Palms (190 units), Villa Del Sur (112 units) and Washington Place (60 units). We have operated many of these properties for over 20 years. I am proud to say that our properties maintain a terrific record relative to maintenance, appearance, safety and resident satisfaction. We are consistently receiving the Gold Seal awards and have also been the recipients of special recognition for our management by different departments of the City including your Council. I welcome you to visit any time to see for yourself how we work hard to supply a quality of living for your citizens who live in our communities. Currently, you are being presented with information from groups who claim that rents are increasing at an unfair rate. You will hear about hardship cases and claims of unscrupulous landlords. I will not argue that there are some unscrupulous landlords just as there are some unscrupulous renters. Some of these renters abuse properties or fail to pay their rent and take advantage of the court system that will often allow them to remain living in an apartment without paying rent for several months. Unfortunately, the costs incurred by this small element negatively effects the costs of operations that are for the benefit (or detriment) of the majority of the people in this equation. Even so, the costs of these exceptions still exist and need to be accounted for by the Landlords. Those who are on the outside looking in, only see the big and obvious numbers and never account for the other expenses that need to considered through reasonable reserves. Fortunately, the majority of owners and renters are fair people who simply wish for an equitable arrangement between the two sides of the property relationship. That is the current case for most of the properties in your City. The system is working reasonably