How Runaway Inflation Kills Rent Control

Does inflation spell the beginning of the end for rent control?

REAL ESTATE NEWS (Los Angeles, CA) — Many renters have no idea of what happens to rent control during inflation. Severe inflation obstructs or ends rent stabilization one way or another, because landlords must raise rents enough to account for inflation. In general, 7% inflation means that rents can go up about 7% per year. When inflation rises to 10%, 20% or more, that’s how much rents must eventually go up. If the city does not allow landlords to promptly raise the rent to cover inflation, then maintenance and enjoyment of the property suffers, as landlords must find other ways to make up for the shortfall. Whenever cities attempt to prevent landlords from recouping rising costs, property values drop, then neighborhoods suffer from increasing crime, budget deficits, deterioration and blight.

Rents can be increased up all the way to the market rate when a tenant: voluntarily moves out; does not pay rent and is evicted; violated the lease agreement and is evicted; is evicted for failure to comply with a Tenant Habitability Plan; is evicted per a City Attorney order or if the tenant accepts a Tenant Buyout Agreement.

Landlords may also raise rents when they hear that an additional tenant is moving in. Tenants may be charged by the landlord an expanding number of surcharges and fees to help pay for the growing rent control bureaucracy. Landlords may also charge the tenant for some improvements made to the unit, renovations to the building, hazardous material removal and seismic retrofit. Landlords may charge for unexpected increases in expenses that results from many costs, including inflation.

Landlords may also raise the rent to full market price by evicting the tenant if one of the following occur: Failure to pay rent; Failure to fix or address a violation of the rental agreement; Creating a nuisance or causing damage to the rental unit; Using the rental unit for an illegal purpose; Failure to renew a similar rental agreement; Failure to provide the landlord reasonable access to the rental unit; or if the person at the end of the lease term is a subtenant not approved by the landlord.

Additional reasons to evict the tenant and fully raise the rent include: The owner, or immediate family member will move into the rental unit; A resident manager will move into the rental unit; Demolition and permanent removal from the rental market; Government order; or Conversion to affordable housing. If the eviction is of no fault by the tenant, then the property owners may be required to provide some relocation assistance compensation.

Many property owners benefits from a plethora of exemptions from rent control, especially in Downtown Los Angeles. These include: luxury properties; properties that are privately owned by individuals; properties that are very old, very new etc. Most DTLA lofts have plenty of exemptions.

Big cities in California, such as Los Angeles, have a sprawling, growing bureaucracy that tries to help renters to keep rents somewhat stable. 64% of Los Angeles residents are renters, and many don’t understand that rent control and rent stabilization can only do so much to help temporarily. Eventually, the economic laws of supply and demand overrule any temporary government measures. Additionally, bureaucratic laws create additional costs, more administration fees and more legal costs, which eventually get passed on to renters. In the mean time, the supply of housing gets more constricted and limited if property owners are not allowed to charge market rates. That bureaucracy increases rents in the long run, as it causes artificial housing shortages. When the economy stagnates, homes are eventually vacated, run down and torn down, like we’ve seen in many neighborhoods of the rust belt over the last 30 years.

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Los Angeles, CA rent stabilization meets inflation: Which buildings have the most exemptions?

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449. This is not to be taken as legal advice. Consult with an attorney regarding legal questions, and consult with the City of Los Angeles regarding local ordinances. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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Here’s a list of some of the buildings with units for lease that have been seen on the L.A. Loft Blog:

1100 Wilshire – 1100 Wilshire Blvd, 90017     1100Lofts.com
1133 S Hope St – 1133 S Hope St, 90015     1133Hope.com
630 N Grand – 630 N Grand Ave, 90012
655 Hope  – 655 Hope St, 90017     655HopeLofts.com
939 Lofts  – 939 S Broadway, 9001     939Lofts.com
Alta Lofts –  200 N San Fernando Rd, 90031     AltaLoft.com
Barker Block – 510 & 530 S Hewitt St, 90013    BarkerBlockLA.com
Bartlett Building – 215 W 7th St, 90014     BarlettLoft.com  M
Barn Lofts – 940 E 2nd St, 90012     BarnLoftsLA.com
Beacon Lofts – 825 E 4th St, 90013     BeaconLoft.com
Biscuit Company – 1850 Industrial St, 90021    BiscuitLoftLA.com  M
Bunker Hill Tower – 800 W 1st St, 90012    BunkerHillCondos.com
Concerto Lofts – 901 Flower St, 90015    ConcertoLoft.com
Cornell Building – 746 S Los Angeles St, 90014    CornellBuilding.com  M
Douglas Building – 257 S Spring St, 90012    DouglasLoft.com  M
Eastern Columbia – 849 S Broadway, 90014    EasternColumbiaLoft.com  M
Eckardt Building – 738 S Los Angeles St, 90014    EckardtLoft.com  M
El Dorado Lofts – 416 S Spring St, 90015     ElDoradoLoft.com  M
Elleven Lofts – 1111 S Grand Ave, 90015     EllevenLoft.com
Evo – 1155 S Grand Ave, 90015     EvoLoftsLA.com
Fig and Fifty Walk – Highland Park, Los Angeles     FigFifty.com
Flower Street Lofts – 1130 S Flower St, 90015     FlowerStreetLoft.com
Glen Donald Building – 2121 James M Wood Bl, 90006    GlenDonaldCondo.com
Gallery Lofts – 120 S Hewitt St & 130 S Hewitt St, 90013    GalleryLoftLA.com
Grand Avenue Lofts – 1100 S Grand Ave & 330 W 11th St,  90015     GrandAvenueLoft.com
Higgins Building – 108 E 2nd St, 90012     HigginsLA.com  M
Library Court – 630 W 6th St, 90017    LibraryCourtLoft.com
Little Tokyo Lofts – 420 S San Pedro St, 90013     LittleTokyoLoftsLosAngeles.com  M
Luma – 1100 S Hope St, 90015     Luma lofts
Market Lofts – 645 W 9th St, 90015     MarketLoftLA.com
Metropolis Los Angeles – 8th Street and Francisco    LosAngelesMetropolis.com
Molino Lofts – 500 Molino & 530 Molino St,  90013    MolinoLoft.com
Mura Condominiums – 629 Traction Ave, 90013     MuraLosAngeles.com
Oceanwide Plaza – 1100 S Figueroa St, 90015     OceanwideDTLA.com
Ostrich Farm Lofts – 1010 Sycamore Ave, 91030     OstrichFarmLoft.com
Pan American Building – 253 S Broadway, 90012     PanAmericanLoft.com  M
Perla on Broadway – 400 S Broadway, 90013  PerlaDTLA.com
Promenade Condominiums – 121 S Hope St, 90012    CondoPromenade.com
Promenade West – 880 W 1st St, 90012     PromenadeW.com
Puerta Del Sol – 360 W Avenue 26, 90031    PuertaDelSolLA.com
Ritz Carlton Residences – 710 W Olympic Blvd, 90015   RitzyLofts.com
Rowan Lofts – 460 S Spring St, 90013       RowanLoft.com  M
Santee Village – (See EckardtCornell and Textile)
Savoy Condominiums – 100 S Alameda, 90012    SavoyLosAngeles.com
SB Grand (Shybary or Shy Barry Grand) – 312 W 5th St, 90013   Website
Skyline Condominiums – 600 W 9th St, 90015    SkylineCondoLA.com
Sky Lofts – 801 S Grand Ave, 90017    SkyLoftsLosAngeles.com
SL70 – 2220 Duane Street, 90039    SL70.info
TEN50 – 1050 South Grand Ave, 90015    LATen50.com
Teramachi Senior Condos – 267 S San Pedro St, 90012   TeramachiHome.com
Textile Building – 315 E 8th St, 90014 M    TextileLoftLA.com  M
Tokyo Villa Condominiums – 222 S Central Ave, 90012  LittleTokyoVilla.com
Tomahawk Lofts 814 S Spring St, 90014    TomahawkLoft.com  M
Toy Factory – 1855 Industrial St, 90015    ToyFactoryLoft.net
Toy Warehouse – 215 S Santa Fe Ave, 90012   ToyWarehouseLoft.com
Vero – 1234 Wilshire, Los Angeles CA    VeroLoft.com


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2121 Lofts – 2121 E 7th Pl, 2135 7th Pl, 712 S Santa Fe Av, 90021
717 Olympic – 717 W Olympic Blvd, 90015
8th and Hope – 801 S Hope St, 90017
American Cement Building Lofts – 2404 Wilshire Blvd, 90057
Apex – 900 S Figueroa St, 90015
Art House – 1200 S Santa Fe Avenue, CA 90021
Atelier DTLA – 801 Olive St, Los Angeles 90014
Ava Little Tokyo – 236 S Los Angeles St, 90012
Aven – 1120 S Grand Ave, Los Angeles, CA 90015
Avant South Park – 1360 S Figueroa St, 90015  AVANTdowntown.com
Artisan on 2nd – 601 E 2nd St, 90012
Binford Lofts – 837 Traction Ave, 90013
Blackstone – 901 S Broadway, 90015
Brewery Lofts – 1920 N Main St, 90031
Brick Lofts – 652 Mateo St, 90021
Broadway Lofts – 430 S Broadway, 90013
Brockman Lofts – 530 W 7th St, 90014
Canvas L.A. – 138 N Beaudry Ave, 90012
Chester Williams – 215 W 5th Street, 90013
City Lights on Fig – 1300 S Figueroa St, 90015
Chapman Flats – 756 S Broadway, 90014
Continental Lofts – 408 S Spring St, 90013
Eighth and Grand – Grand Ave, 90017
Elysian – 1115 Sunset Blvd,  90012
Emerson – 225 S Grand Ave, 90012
Emil Brown Building – 308 East 9th St, 90015
Factory Place Lofts – 1308 Factory Place, 90013
G12 – 1200 S Grand Ave, 90015
Garey Building – 905 E 2nd St, 90012     GareyBuilding.com
Grand Central Square – 306 W 3rd St, 90013
Gas Company Lofts – 810 S Flower St, 90017
Great Republic Lofts – 756 S Spring St, 90014
Grether & Grether – 730 S Los Angeles St, 90014    GretherLofts.com
Hellman – 411 S Main St, 90013
Hope+Flower – 1201 S Hope St, 90015
Jeffries Lofts – 117 Winston St, 90013
L.A. Loft Tour – (213) 478-0499  http://www.LAloftTour.com
Lacy Studio Lofts – 2664 Lacy St, 90031
LEVEL DTLA – 888 Olive St, 90015  http://www.LEVELDTLA.com
Long Beach Avenue Lofts – 1250 Long Beach Ave, 90021
Mandel Lofts – 711 S Olive St, 90014
Medallion – 334 S Main St, 90013
Medici – 725 S Bixel St, 90017
MegaToys Lofts – 905 E 2nd St, 90012
Mercantile Lofts – 620 S Main St, 90013
Met Lofts – 1050 S Flower St, 90015
Metro 417 – 417 South Hill Street, 90013
Metropolitan – 315 West 5th Street, 90013
Milano Lofts – 609 S Grand Ave, 90017
Mozaic at Union Station – 888 N Alameda St, 90012
Museum Tower – 225 S Olive St, 90012
NCT Lofts National City Tower Building – 810 S Spring St, 90014
Newberry Lofts – 900 E 1st St, 90012
Oakwood Olympic and Olive – 1001 S Olive St, 90012
Olive DTLA – 1243 S Olive St, 90015
One Santa Fe – 1 Santa Fe, CA 90012
Orpheum Lofts – 842-846 S Broadway, 90014
Orsini Apartments – 550 N Figueroa St, 90012
Pacific Electric Lofts – 610 S Main St, 90014
Packard Lofts – 1000 S Hope St, 90015
Pegasus – 612 S Flower St, 90017
Peterson and Tansey Lofts – 1250 Long Beach Ave, 90021
Piano Lofts – 932 S Hill St, 90015
Piero – 312 E 12th St, 90015
Promenade Tower – 123 S Figueroa St, 90012
RiverFront Lofts – 201 S Santa Fe Ave, 90012
Roosevelt Lofts – 727 W 7th St, 90017
San Fernando – 400 S Main St, 90013
Santa Fe Lofts – 121 E 6th St, 90014
Santee Court – 716 S Los Angeles St, 90014
SB Grand – 312 W 5th St, 90013
South Park Lofts – 818 South Grand Ave, 90017
Spring Arcade – 541 S Spring St, 90013
Tailor Lofts – 443 S San Pedro Street, 90013
Title Guarantee – 411 5th St #1200, 90013
Union Lofts – 325 W 8th St, 90014
Visconti – 1221 W 3rd St, 90017
Walnut Building – 691 Mill St, Los Angeles, CA 90021
Watermarke Tower – 705 W 9th St, 90015
Wren Apartments – 1230 S. Olive St, 90015
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker. | ADVERTISE