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From:J.D. Anagnostou <br />To:GRP-City Council <br />Subject:Rental Measure- November 2026 <br />Date:Monday, July 27, 2026 12:26:25 PM <br />Attachments:image.png <br />image.png <br />You don't often get email from jd@realsmartgroup.com. Learn why this is important <br />To the Honorable Redwood City Council Members, <br />I just wanted to state that this measure was created by manipulation to influence <br />people, especially the vulnerable who are struggling to find affordable housing in the City <br />of Redwood City. They will sign anything to help their living situation without the details <br />explained to them. This method of approval, in my opinion, is not democracy. It's been <br />forced upon us. This affordability problem is a Bay Area wide problem, not just Redwood <br />City. But the creators of this measure targeted Redwood City purposely and we all know <br />the reasons why. That in itself is a crime. This measure will not only hurt Tenants, but <br />those that supply housing especially for the properties that are older than 1995 which I <br />know from my 41 years of real estate experience is about 80% of our rental stock. These <br />properties for the most part are owned by the "Mom and Pop" types- the ones that truly <br />care for their Tenants and take care of their properties the best they can. <br />The City has already implemented Tenant protection policies that haven't been in place <br />long enough. They will help. It will just take more time to work its way through the <br />system. We as owners of a couple of apartment buildings in Redwood City for over 45 <br />years, know the concept very well of taking care of our vulnerable Tenants. Even during <br />COVID, which for us was December 2019 to December 2023, did not increase the rent <br />for all of our Tenants. Some of them didn't see an increase for over 5 years especially our <br />most vulnerable. But there was no relief to us in terms of Water, Sewer, PG&E, <br />maintenance in both supplies and labor. In fact, most of these items increased by 10% <br />per year in the last 5 to 6 years. That's at least a 50% increase. Increase in property <br />Insurance, over the last 5 years is frankly a crime, well over 100%. Twelve years ago, we <br />painted the exterior of one building. It cost $10,000 then. We just finished painting that <br />same building, by our same local small business owner who lives in Redwood City, costs <br />$28,000. That is a 9% annual increase over these 12 years. <br />Everything is expensive! <br />So, now to have this absolutely terrible measure put before us can crush the reasons <br />why we purchased the properties in the first place. To provide decent housing, to <br />maintain the property, to allow for a reasonable increase in rent to help pay for the <br />improvements, to create an income source for retirement using the economic concepts