"These small landlords can cry all they want about how unfair it is, but they are a huge part of the problem." - SarahC
As a mom-and-pop landlord, I'm not crying that it's unfair, just stupid for reasons I submitted in my post above and echoed by others. The pool of affordable rentals will be reduced if the city is determined to micromanage landlords and their rentals. One has to look no further than Seattle to see that effect.
And Sarah, please don't recklessly include me as part of the problem. In the past 6 years, my wife and I have raised the rent on our one 3-bedroom/2 bath, 1600+ sq foot single family house only $250/month ($1900 to $2150). Over that same period, the property tax has increased by $1200 as well as the cost of lawn care (which I pay for) and insurance. Should I mention the AC we installed at the tenants' request or the wood flooring we put in to replace carpet beginning to wear? I don't even know what the large property management companies charge for rent and I don't care.
My current tenants are in their fifth year of occupancy. They love us and we love them (because they care for the home as if it was their own and pay the rent on time). At the inevitable point we have to sell the place, I hope they're still tenants and will wish to buy it. But that will remove the place from the affordable rental pool.
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