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Opinion: Property owners support eviction moratorium but ask City Council to consider economic effect on companies
People Post is a space for opinion pieces, letters to the editor and guest submissions from members of the Long Beach community. The following is an op-ed submitted by residential property owners who own or manage over 10,000 residential rental units, and does not necessarily reflect the views of the Long Beach Post.
Collectively, the residential property owners listed below own or manage over 10,000 residential rental units and indirectly and directly employ thousands of employees and vendors in the City of Long Beach.
We know first-hand the importance of maintaining a stable housing population in the City and that the outbreak of the COVID-19 virus has had an unprecedented effect on the local economy and will cause economic damage to our tenants.
As such, we strongly support the emergency ordinance on tonight’s city council agenda that enacts a temporary moratorium on financially motivated evictions and protects the most susceptible to economic hardships such as the payment of late fees.
As large employers in the city and leaders in the housing industry we do ask however that the city remember that there will be an economic “trickle down” effect on owners of residential real estate and management companies. During this time of financial hardship we will have to continue to pay mortgages, employees, property taxes and all other relevant operating expenses to maintain the public safety of our assets. In your discussion of Item No. 27 we ask that the City Council discuss ways to truly ensure that we protect the most financially vulnerable segment of the renter population without putting property owners in the face of economic peril.
We appreciate your leadership on this issue and firmly believe that with the stress, health risk and economic suffering going on now, no one should have to worry about losing their home in a time of crisis. We are ready to help in any way we can with the further drafting and implementation of the ordinance envisioned by this Agenda item and are additionally open to further consultation.
Regards,
Waterford Property Company
Beachfront Property Management
Pabst and Kinney Property Management