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From:Tye Tyson <br />To:GRP-City Council <br />Subject:Item 9.B Public Comment <br />Date:Monday, July 27, 2026 1:28:53 PM <br />Some people who received this message don't often get email from tyetyson@hotmail.com. Learn why this isimportant <br />To the Honorable Mayor and Members of the Redwood City Council: <br /> <br />I am writing to express my concerns regarding the proposed expansion of rent control for <br />multifamily residential properties, specifically the proposal to limit annual rent increases to <br />5% or 60% of the Consumer Price Index (CPI) for apartment buildings constructed before <br />1995. <br />While I appreciate the City's desire to address housing affordability and protect residents from <br />excessive rent increases, I respectfully believe that this proposal creates an unfair distinction <br />between property owners based solely on the age of their buildings. Exempting newer <br />developments while imposing restrictions on older properties rewards large institutional <br />developers with recently constructed projects while placing a disproportionate financial <br />burden on small, independent property owners who have invested in Redwood City for <br />decades. <br />Many of these smaller landlords are not large corporations. They are local families and small <br />business owners who depend on rental income to maintain their properties, pay mortgages, <br />insurance, property taxes, utilities, and comply with continually increasing government <br />regulations. Unlike large real estate investment firms, they often lack the financial resources <br />to absorb significant increases in operating expenses. <br />There are several concerns the Council should carefully consider before adopting additional <br />rent control measures: <br />Reduced Incentive to Build Housing <br />Housing shortages are fundamentally a supply problem. Policies that limit the financial return <br />on rental housing reduce the incentive for developers and investors to build additional <br />apartments. Over time, this can worsen the very housing shortage these policies are intended <br />to address. <br />Discourages Investment in Existing Properties <br />When future rental income is restricted, the value of rental housing declines and investment <br />becomes less attractive. Investors often choose to place their capital in communities with <br />more predictable regulatory environments, reducing investment in Redwood City's housing <br />stock. <br />Pressure on Property Tax Revenue <br />Property values are directly tied to the income they generate. Limiting rental income can