LA landlords who keep units empty could get taxed

A city councilman wants to crack down on apartment owners who would rather keep units vacant than have to charge lower rent

Los Angeles /
Jun.June 12, 2019 10:00 AM
Los Angeles City Councilmember Mike Bonin
Los Angeles City Councilmember Mike Bonin

Los Angeles is in the middle of an affordable housing crisis, and one city officials says landlords have only made matters worse by keeping units vacant instead of charging lower rents.

City Councilman Mike Bonin is calling for a report on potential options for an “empty homes penalty” ballot measure that would tax offending landlords, according to Curbed.

Bonin called it a means to “confront one of the root causes of the homelessness crisis in Los Angeles,” Curbed reported. The councilman’s request will seek to find out precisely how many property owners are intentionally keeping their units vacant.

U.S. Census estimates put the number of vacant units in Los Angeles — including second homes and vacation homes — at around 93,500, according to Curbed.

If a tax makes it onto the 2020 ballot, the real estate industry would in all likelihood mount a vigorous campaign against it, as owners and landlord advocacy groups have done over recent ballot measures.

Those include opposition to last November’s Proposition 10 statewide referendum that would have allowed for new rent control laws and this month’s citywide parcel tax that would have funded L.A.’s school district. Both ballot measures failed to secure enough votes for passage, and both were strongly opposed by the real estate industry. [Curbed]Dennis Lynch 


Related Articles

arrow_forward_ios
Assemblymember Cristina Garcia (Wikipedia, iStock)
Golf course housing bill dies on the green
Golf course housing bill dies on the green
Harry Sidhu, Mayor of Anaheim (Getty Images)
Feds probe Anaheim mayor over Angel Stadium sale
Feds probe Anaheim mayor over Angel Stadium sale
Anaheim Angels owner Arte Moreno and rendering of new stadium site (SRB Management, Getty Images)
City cuts new affordable housing deal with Moreno on Angel Stadium sale
City cuts new affordable housing deal with Moreno on Angel Stadium sale
Mayor Eric Garcetti and LA County General Hospital at 1200 State Street (Getty)
LA County looks at redeveloping historic General Hospital
LA County looks at redeveloping historic General Hospital
Anaheim mayor Harry Sidhu and theTampico Motel at 120 South State College Street (Getty, LoopNet)
Anaheim buys blighted motel to create affordable housing
Anaheim buys blighted motel to create affordable housing
Molina Wu Network's John Molina and Community Hospital Long Beach at 1720 Termino Avenue (Facebook, City of Longbeach)
State demands closed Long Beach hospital be offered to affordable housing builders
State demands closed Long Beach hospital be offered to affordable housing builders
From left: Harry Sidhu, mayor of Anaheim; Art Moreno, owner, Los Angeles Angels; Rob Bonta, state attorney general (Getty Images, City of Anaheim, iStock)
Anaheim clears way for stadium sale with $123M for affordable housing
Anaheim clears way for stadium sale with $123M for affordable housing
3377 West Olympic Blvd (Google Maps)
K-Town developer proposes 7-story apartment complex
K-Town developer proposes 7-story apartment complex
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...