Of the existing tenants have to buy in. Right now, none of the existing tenants have to buy in, for it to become a condo. It can go to a t. I. C. First and flip that process. Were not talking about tenants and buildings being able to buy their units. Renters being able to buy their units. Youre asking people who are a Higher Income Group being able to kick out people, often with a middle man, a speculator, doing it. If folks here wanted to live in a unit they would be asking you to pass this with a 10 year ban on renting or selling the unit. Before it could be sold. But many people are going to condo convert and then flip it. My friend actually owns a t. I. C. He bought it for 260,000. His t. I. C. Owner upstairs just sold their unit for 450. That was five years ago. So clearly you can sell your t. I. C. Unit for some money. They knew what they were getting into when they bought the unit. Theres a lottery. The lottery didnt start last week. My dad pays twothirds of his income in rent.
Eventually turn over, no one loses. Id ask the committee make decisions based on the facts and support homeowners support those protected and put money in the coffers which will help everyone. Thank you, supervisors wiener and farrell for your proposal of balanced legislation. Thanks for letting me speak too. Chair wiener thank you very much and thank you for being honest. Next speaker. High there. Im a San Francisco resident for 13 years. Im a t. I. C. Owner and previous renter for many years. All of my coowners in my six unit t. I. C. Were once renters also. We are not opposed to rent control. I just wanted to make that clear. The lottery system is so outdated and overburdened and with the current backlog it may be over 10 years before being eligible for conversions. Were not trying to make a quick buck because our units have lost a significant amount of value since we purchased. Were previous renters who are looking to purchase a home to have stable housing in San Francisco. We cont
Not be able to condo convert. Also, after being evicted from my home, i want a bmr condo which i had to sell because i can no longer afford it and we could not refinance when my roommate retired. So i believe in real affordable Home Ownership through bmrs. T. I. C. S dont pass my moral compass. But it never occurred to me that i would say my finances are hard and i need you to remove those affordability restrictions from bmrs. I knew what the risks are and took the consequences. Also chair wiener i will ask people to let everyone speak, without positive or negative statements from the audience. Thank you. Were you done . Thank you. I am aware of that. My name is tommy, im with the Housing Rights Committee of San Francisco. Id like to talk about the of protections that tenants have in the law right now. The reality is there are no real protections for tenants right now in the law that will stop a tenant from being evicted for a t. I. C. There is no real protection. Lets talk about the p
Buildings for Student Housing and the thousands of units that have been converted to shortterm rentals which continue to occur despite current legislation to curb it. And i keep hearing tenants will get lifetime leases. Today is the first time i heard that those lifetime leases would be rent controlled. But supervisor farrell did not explain why they would have extra protection, more protection than they have today. What protection does it given them against an other than movein eviction and what about those who have been evicted when they were converted to t. I. C. In the first place. Ive protested many times in front of those places where people were evicted just to form a t. I. C. There. No one is against families living in San Francisco has been intimated but not at expense of elderly disabled and longterm tenants and not at the expense of rent control. People should organize and fight the banks and we should build more housing in San Francisco which is truly affordable, not 8 Mill
Also, after being evicted from my home, i want a bmr condo which i had to sell because i can no longer afford it and we could not refinance when my roommate retired. So i believe in real affordable Home Ownership through bmrs. T. I. C. S dont pass my moral compass. But it never occurred to me that i would say my finances are hard and i need you to remove those affordability restrictions from bmrs. I knew what the risks are and took the consequences. Also chair wiener i will ask people to let everyone speak, without positive or negative statements from the audience. Thank you. Were you done . Thank you. I am aware of that. My name is tommy, im with the Housing Rights Committee of San Francisco. Id like to talk about the of protections that tenants have in the law right now. The reality is there are no real protections for tenants right now in the law that will stop a tenant from being evicted for a t. I. C. There is no real protection. Lets talk about the peskin legislation which i help