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Jesus Malverde

(10,274 posts)
Sun Apr 13, 2014, 06:56 PM Apr 2014

S.F. landlords offer tenants tempting offers to move out

There's $50,000 on the table if the Reyes family is willing to leave the Mission District apartment that has been home for 24 years.

"It seems like a lot of money, it does, but when you think about it, when you think about your future, it doesn't go as far as you think it does," said Jacqueline Reyes, 19, who has lived in the studio with her parents all of her life.

The rent-controlled space costs the family $549 a month - a nearly impossible price to match in today's scorching real estate market.

As an influx of wealth reshapes the city, housing advocates allege that the main way for landlords to replace longtime tenants with those willing to pay more has become rather simple: offer a pile of cash.

Read More: http://www.sfgate.com/politics/joegarofoli/article/S-F-landlords-offer-tenants-tempting-offers-to-5398027.php

11 replies = new reply since forum marked as read
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S.F. landlords offer tenants tempting offers to move out (Original Post) Jesus Malverde Apr 2014 OP
I'm not surprised. Warren DeMontague Apr 2014 #1
And sometimes they just kick them out and tear down the buildings starroute Apr 2014 #2
I would laugh in the landlord's face. longship Apr 2014 #3
How would you know what your kids or grand kids would do? jberryhill Apr 2014 #4
What dafuq is YOUR problem? nt ChisolmTrailDem Apr 2014 #6
My problem? jberryhill Apr 2014 #11
in a few generations you would have hundreds of people living in the apartment!!! yawnmaster Apr 2014 #7
K & R !!! WillyT Apr 2014 #5
Sad what's happening there. ForgoTheConsequence Apr 2014 #8
Very torn: I've seen gentrification drive out long time residents, some with a family history in the Jake Stern Apr 2014 #9
I was offered $25,000 for my roomie & I to leave.... hadrons Apr 2014 #10

starroute

(12,977 posts)
2. And sometimes they just kick them out and tear down the buildings
Sun Apr 13, 2014, 07:02 PM
Apr 2014
http://www.latimes.com/business/la-fi-no-fault-evictions-20140413,0,2351345.story

"It was a happy time," Shashou, 77, recalled on a recent Sunday afternoon. "I was hoping to die here."

That was before Shashou received an eviction notice in March. Shashou's $825-a-month rent-controlled apartment, and 17 other units, will be demolished to make way for a pricey new apartment complex.

Such evictions have surged in Los Angeles as property owners cash in on the recovery. Rent-controlled units are being converted or simply flattened. In their place, developers are putting up new condominium or apartment buildings, modern mansions or clusters of compact, single-family homes.

The evictions — allowed by the state's Ellis Act — have exploded in San Francisco as well, accelerating a backlash against the city's tech-driven gentrification. Two legislators there have moved to limit the practice; under current law, property owners are allowed to evict if they get out of the rental business or demolish their buildings.

longship

(40,416 posts)
3. I would laugh in the landlord's face.
Sun Apr 13, 2014, 07:04 PM
Apr 2014

And then I would never, ever move out of the apartment. Nor would my kids. Nor would their kids. Nor would their kids. Etc.

 

jberryhill

(62,444 posts)
4. How would you know what your kids or grand kids would do?
Sun Apr 13, 2014, 07:24 PM
Apr 2014

Do you reproduce by cloning, or are there mortal consequences among your descendants for defying your eternal transgenerational will?

 

jberryhill

(62,444 posts)
11. My problem?
Sun Apr 13, 2014, 11:07 PM
Apr 2014

I have a problem with parents who believe their children are extensions of their own personality, instead of individuals with their own identities and minds.

yawnmaster

(2,812 posts)
7. in a few generations you would have hundreds of people living in the apartment!!!
Sun Apr 13, 2014, 07:27 PM
Apr 2014

I think there might be some code violation.

Jake Stern

(3,145 posts)
9. Very torn: I've seen gentrification drive out long time residents, some with a family history in the
Sun Apr 13, 2014, 08:02 PM
Apr 2014

area spanning generations BUT it's also transformed crime and drug infested areas into safe places to work, visit and live.

hadrons

(4,170 posts)
10. I was offered $25,000 for my roomie & I to leave....
Sun Apr 13, 2014, 10:20 PM
Apr 2014

our one-bedroom rent-controlled apt. in Upper Manhattan in NYC a few years ago. We weren't the only ones ... that same year a neighbor ended taking $41,000 to leave his two-bedroom, but he was leaving anyway, so it was free money. My neighbor has a three-bedroom and he was offered $50,000.

That year, a one-room condo was on the market for over $350,000 ... and it went quickly. Someone printed out the listing and hung it on the front door to the building; I guess someone wasn't too pleased with the low-ball offer.

We didn't take the offer (neither did my neighbor) and someone this year was offered $50,000 to leave their rent-controlled three-room ... No adjustment for inflation ... such a cheap landlord, I don't get it because he can flip it fast for big bucks.

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