Rent strikes, protests pay off: Oakland tenants convince landlord to sell buildingīay Area tiny homes lead to big disappointments for some homeless residentsĬhicago-based Hometown America, a privately held company with mobile home parks in a dozen states, bought Plaza Del Rey in 2019. Opinion: San Jose housing proposal is expensive, expands bureaucratic process Should renters get first dibs in Bay Area real estate deals? Letters: SB 9 projects | Homeless plan | Dam drawbacks | Fed’s delay | Biden bill | Mask mandates Ro Khanna (D-Santa Clara) in an effort to preserve their communities. Residents began to protest the increases, and drew the attention of U.S. Residents say prices shot up quickly, with new owners seeing increases that nearly doubled previous rents.
Plaza Del Rey, a 95-acre park with 812 homes, was sold to private equity investor Carlyle Group in 2015. Plaza Del Rey resident Fred Kameda said the agreement will make a “huge financial difference” for park residents. Three parks are not included - Aloha, Ranchero and Thunderbird – because they are strictly rental. The city has provided a website with additional information, including examples and different scenarios. “I’m glad we finally got to this point,” he said after he voted for the agreement. Mayor Larry Klein noted the years-long process. For example, the CPI rose 3.8% in October from the previous year so renewal hikes would be capped at three-quarters of that percentage, or 2.85%. The agreement, technically an amendment to existing leases, caps increases on yearly renewals at either 3% or 75% of the Bay Area’s consumer price index - whichever is larger.
Sunnyvale leaders rejected a rent stabilization proposal, and instead negotiated a 20-year agreement with the owners of 10 of the city’s 13 parks. Sunnyvale mobile home owners began petitioning the city for rent stabilization about five years ago as parks changed hands and rates for incoming residents began to rise. Many Bay Area counties and cities already have rent stabilization ordinances limiting increases on space rents: Alameda, Contra Costa and Sonoma counties are covered, as well as Concord, Daly City, East Palo Alto, Fremont, Hayward, Milpitas, San Jose and others, according to the Mobile Home Park Home Owners Allegiance. For every $100 per month increase in rent, mobile home values decrease about $10,000, according to industry estimates.
But in recent years, mobile home parks have been snapped up by large, national investors, often driving up rents and decreasing the value of homes. Relief for mobile owners in this Silicon Valley city Close Menuīay Area mobile home parks are a haven of affordable housing in one of the country’s most expensive markets for homes and apartments.
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