Posted on 08/10/2021 6:41:25 PM PDT by nickcarraway
One of the region’s most prolific apartment builders has sued the city of Los Angeles over its COVID-19 eviction moratorium, saying his companies have experienced “astronomical” financial losses and are legally entitled to compensation from the city.
GHP Management Corp., which is owned by real estate developer Geoffrey Palmer, said in its lawsuit that 12 buildings that it manages have experienced more than $20 million in lost rental income as a result of the measure. GHP, which filed the lawsuit along with several other Palmer companies, expects that number to triple by the time the provisions of the moratorium have expired.
The city enacted its temporary eviction limits in March 2020, just as COVID-19 was triggering the shutdown of businesses and throwing people out of work, barring building owners from forcing out tenants who could show their inability to pay was caused by the pandemic.
Palmer’s companies allege that the moratorium — first put in place by Mayor Eric Garcetti as an emergency order, then approved as an ordinance by the City Council — violated the “takings clause” established in the 5th Amendment, which says private property shall not be taken for public use without “just compensation.”
Read the full story on LATimes.com.
Awesome!
Every landlord deserves to be compensated for their losses due to these moratorium’s. Federal, state, and local governments should be forced to pay. Whoever put the freezes into effect.
More comments can be found here:
https://freerepublic.com/focus/f-news/3983706/posts
Landlord sues L.A. for $100M, alleging eviction moratorium caused ‘astronomical’ losses
LA Times | AUG. 9, 2021 | BY DAVID ZAHNISER
Posted on 8/10/2021, 8:15:34 AM by BenLurkin
I’m glad one of the ‘big guys’ is doing this.
So many small landlords have lost so much, and don’t have the resources to fight it.
How many of his 15000 units are already vacated?
How many PPP loans and what amount did this company receive?
Answer: Between 5-10 million-the highest bracket.
This guy is most likely carrying so much debt he needs newspaper stories to bail his “deadbeat ass out.”
Good Luck with Traitor Roberts standing athrought The Constitution.
Unfortunately, you have mischaracterized GHP. He/they have build much needed properties in the LA area and alleviated a lot of pressure. He/they were pioneers in the LA Housing market and the “lovely” unions decided to torch one of his projects. His “dead-beat ass” is a far better person than you sound like.
Yes, but tax payers are on the hook.
We’re always on the hook....
At taxpayer expense and never at the expense of the wrong-doers.
Amen. some small landlords only have one or two rentals and have been ruined. Some are now homeless themselves.
What do find here. Several shameful posters defending whats going on because this is a big landlord. Of course they have financial obligations as well.
There are some people here that I would clap if they ended up homeless because they could not find a place to rent.
Dem: If he didn’t like Socialism then why did he set up shop as a landlord in America? What did he think would happen?
If I could be king for a day then I would declare that all the assets of the lefties that did this be sold and distributed to the affected landlords. All of their cash too.
Like the judges who are not sued for letting vicious thugs out to brutalize again. Or the mayors and governors who allow the no parole or no bond system to please minorities and endanger everyone.
And like the people in office who can’t be blamed for something during the performance of their normal duties, albeit poorly.
Prediction: It won’t stand up.
It would require a system of justice which treats people fairly under the law. We do not have that in America. Ask Gen. Flynn and President Trump.
RE: small landlords losing everything....
True. I have pointed that out before. Not all landlords are giant companies. Many depend on getting the rents in order to meet their own obligations on one or two houses or small buildings.
They have no slush fund during the “no rent” lockdown months.
I wouldn’t clap over anyone becoming homeless.
But some people here seem to think that it’s a bad thing to be wealthy because - (regardless that you’ve earned it by providing an important service) - some others aren’t; and the wealthy should just suck it up when they lose money (?)
There have been many instances where wealthy people with the resources have challenged government, and in the process aided much ‘smaller’ interests by doing so.
There are some people here who are not aware or informed about what is going on in the residential real estate market. They are going to wake up some morning next year and realize that Blackrock owns most of the rental property.
These same people seem to not know much about contract law or our constitution.
Doesn’t matter how big a landlord is - we either have private property with rights in this country or we have nothing. This is arguably the biggest unconstitutional and most anti western thing that has ever happened in the last 200 years
Indeed, although Blackstone will arguably own more than blackrock but either way
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