4-15-17: Rent Control Matters with Jeff Zell.

Jeff went through the different laws and ordinances governing rent control matters. Not a tenant favored law scenario. It takes the interest of landlords and developers into account. Rent control is here to stay  which makes it critical to stay abreast of changes and ways to manage it. It causes eviction and voluntary vacancy. Average rent increase was about 4% over the past twenty years. Lease strategies include lease to lease, cost recovering, and amenities. In addition, use the extent of law to add to the value of the property when it is under market. Lock in with tenant with renewed lease , upgrades and credits when it is a down market. The outlook of the rental market is that rental rates will have a jump when minimum wage are subject to increases of 50% over next 5 years. Demand will continue to be high and supply to be short. Therefore, rent control will remain a part of the rental market. It is important to understand the rent control legislature and manage it, rather than unknowingly violate it.

For those interested in reaching out to Mr Jeff Zell, please email jeff@zell.com.  To get a copy of the presentation, please email us at info@justglobal.net