We’re pawns in a rich investor’s game. Dolls on display living in a condo that’s for sale.
This is my first home in Cali. I’ve been here for 5-years. It started out at a reasonable price but the rents went up 30% in roughly the last 2 of the 5 years I’ve been here. There’s no justification for it other than gentrification fueled by rich speculators from China and Orange County. I can’t believe property speculation is legal. It’s disgusting.
So my rent has gone up to the breaking point and then my first scum landlord sold the unit, with us in it - mid 2 year lease. It was was a weird sale. Someone owed him money because the unit sold on the day it went online. No negotiation. And it was way overpriced. The unit easily has 50k in water damage, broken window seals, poor plumbing, messed up locks, and renovations that the first landlord never addressed. But the investor bought it. Site unseen.
The plan of the new investor was to keep it for a few years to let it “appreciate…” - yea right. They told us at the beginning of October it’s for sale again - a year after they bought it - and it’s been on show, since. A month and a half later.
The unit is 30% higher than what it’s worth which means our privacy, our lives, our home possessions are on constant display to smug aholes who just want to see what a DTLA loft/condo looks like. No one can afford the place, and if they can - it’s not worth the cost - we’re just here to amuse them. And that’s it. No one’s going to buy it at this price and the loser “Agency” and investor aren’t budging on the ridiculous price. At this point it’s harassment.
I am not OK with not being here for strangers to mill around my life like I don’t matter. So the showings are disruptive to my work schedule, my equipment, my pet, and my partner. My small business insurance wouldn’t cover my equipment if I just left my home to strangers - btw. Do the judges care about home business owners? Nah. Let them show whenever - tenant or no tenant!
The last problem in this equation is if and when they sell the unit, the buyer will probably try and raise our rent, again. We’re screwed if they want to keep us as tenants and we’re screwed of they do sell it and the new owners kick us out.
First and foremost, there needs to be laws against foreign owners of US property. There needs to be better laws against opening a private home up without the tenant. There needs to be better regulations on the rise of rent rates. There needs to be laws against residential property speculation.
The American dream of ownership has become such a pie in the sky day dream - we have nothing left but to rent and we’re all treated with malice and contempt for it. We’re living in a den of hungry wolves with can of bug spray for protection. Renters rights need to be much better. There’s no excuse.