Prior to the increase, my rent was 50% of my take home pay (for the first time after I got a raise; before it was 60%, for about 7 years). With the 20% increase, it is again 60% of my take home pay. On Oct 1, it will be 67% of my take home pay. For rent.
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I have a full time job. My book deal paid off my student loans. I am fortunate in that. If this had hit me just a few years ago, I would have been forced to move. Which is what they want. Joke is on them: My mom just died and I was her sole heir. I have cushion cash. Gross.
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My apartment building has now converted 30 apartments, or 25% of the building, into full time AirBnB units. More coming. Is this legal? I don't know. It's LA. It probably is. Screw tenants. Every other apt on my hallway is now an AirBnB unit. I'm the last resident standing.
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I will be moving once probate for my mother's estate is completed. Most residents in my building are not so lucky. They don't have full time jobs or book deals or YouTube or an unfortunate inheritance. Most people in Los Angeles barely get by. That was me a few years ago.
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Predatory landlords are ruining Los Angeles. And it's completely legal. This city has a huge problem. And you wonder why so many people are homeless?
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How...do they expect people to live on that?
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They don't. They want to clear my building of all tenants so they can renovate, convert to AirBnB and/or raise the rents even higher for new tenants.
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May I retweet this? I can’t believe this is happening
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Sure! I'm so mad! Like, I can deal with it--it's just WRONG. But this is actively harming other residents of my building. It's gross. A lot of low income people lived/live there.
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It's so ridiculous! I got "lucky" too when my father died, left me enough so I could buy a house in the Valley, but if you don't have rent control in LA, you are screwed. AirB&B is a menace, and the city needs to get real about regulations.
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YES. It just makes me so mad. And, same, I'm just reeling that it will be "cheaper" to spend half a million on a condo than to continue to rent!
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