Patt Morrison for May 7, 2010

City Council votes: should rent hikes be stalled in tough times?

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Spencer Platt/Getty Images for Fortune Magazine

The L.A. city council wants to stop rate hikes.

The City Council voted eight to six today to instruct the city attorney to draft an ordinance to ban rent increases on 630,000 rent-controlled units in Los Angeles. If the ordinance is adopted, landlords will be permitted to raise rents by 3% beginning in July, but additional debate is expected when the draft comes to the city council in two weeks. Are increases fair in this tough economic climate?

Guests:

Eric Garcetti, LA City Council President

Elizabeth Blaney, representative from the Los Angeles Right to Housing Collective, a coalition of tenants’ organizations

Ryan Minniear, Executive Director of the California Apartment Association (CAA) of Los Angeles


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