Friend --
For years, speculators and corporate landlords have taken advantage of the Ellis Act to evict California tenants and put them on the streets.
We have the opportunity to stop this now and hold speculators and corporate landlords accountable. AB 854 will reform the Ellis Act to prevent speculators from taking advantage of it and AB 1199 will work to hold corporate landlords accountable. Both bills are hitting major milestones TOMORROW.
Click here to email key elected leaders to urge them to support AB 854 and AB 1199! <[link removed]>
The Ellis Act was originally passed to protect small “mom and pop” landlords who could no longer tend to their rental property. A series of court decisions vastly expanded the Act’s reach. Instead of requiring units to sit vacant, courts held that owners could convert the rental units to ownership. This led to speculators buying buildings and then “going out of the rental housing business” soon after. Eviction notices to long-term tenants and the permanent removal of affordable rental units followed.
We must stop this revolving door of speculator evictions! Take 1 minute to email key legislators and urge them to pass AB 854 out of the Housing and Community Development Committee! <[link removed]>
In addition to Ellis Act reform, AB 1199, the Homes for Families Act, would prevent the same kind of speculator buy out of housing that happened after the 2008 financial crisis by bringing transparency and oversight to LLCs - requiring them to report on the beneficial owners of these properties. It will also tax the largest corporate landlords for the privilege of engaging in this business, and the funds generated will provide homeowners education, rent relief for at-risk tenants, legal services for renters facing eviction, support for affordable housing, initiatives to address the state’s growing homelessness problem, and financial support for struggling mom-and-pop landlords.
We need to place stronger regulations on corporate landlords and speculation in our state to protect Californians. Click here to urge key legislators in support of AB 854 and AB 1199! <[link removed]>
In solidarity,
Ra'Jhon
ACCE Action
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