Dear Council members, as an owner of a number of apartment buildings and as a resident in Menlo Park, I would urge the council to
OPPOSE ALTERNATIVE B, which would :
- Impose strict and ever tightening rental prices on our rental units : "rent caps"
- Regulate who can and cannot reside in our units and under what terms : "just cause"
- Require payment of large relocation penalties for any rent increase or any termination of tenancy : "relocation".
This will impact our ability to provide for our tenants, our family's source of income and our retirement. I’m opposed to any form
of rent control that you may be considering. This proposal may also cause us to rethink our ownership of these units and instead
of having rental units change the use to condo’s and sell them individually thereby creating a smaller supply of housing in the
rental market. Unfortunately, I’ll not be able to attend the council meeting, but I wanted to express my concerns to council.
Regards,
-Jeff
Jeffrey A. Rodgers
Executive Managing Director
CA RE License #00942763
Newmark Knight Frank
3055 Olin Avenue, Suite 2200 San Jose, CA 95128
D 408.987.4143
F 408.988.6340
jrodgers@ngkf.com [jrodgers@ngkf.com] Profile [http://www.ccareynkf.com/offices-agents/AgentDetail.aspx?id=40:LRODGR]
