Please be sure to vote and vote YES on G!
Proposition G is the anti-speculation surtax, an attempt to halt evictions by taking away some of the financial incentive to buy long-term tenant occupied buildings at a lower price, proceed to then evict those tenants, do cosmetic renovations and then re-sell for windfall profits. We want above all to keep our tight-knit communities intact, the caring multi-generations, multi-cultural make up, and neighbors knowing their neighbors. Speculators have been rapidly dismantling our neighborhood-and neighborhoods throughout The City as their bottom line is greed.
One developer/investor, from Lafayette, has bought 3 North Beach buildings within a 6 month period of time and within the first week of “ownership” told the tenants that they either accept a “buy-out” or they will be Ellis Act evicted. He informed tenants that he intends to convert the units and sell individually for a $3 million dollar profit. Thus, three more buildings will be removed from our precious rental stock, selling to the highest bidder, while the original tenants search for homes nowhere near the City of San Francisco. Most often, it is the deceased owner’s family that sells at the lower price, due to the fact that it is fully occupied with longterm tenants-those whom the family would never dream of evicting -and so in the end, the original family seller loses. And we lose yet more neighbors. The speculator is the only one who gains. Let’s try to stop the speculation with our lives, our communities.
As renters, we want and need landlords real landlords, and want to preserve our communities. Help stop the speculators, the serial evictors, and vote YES ON G!