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Anonymous
Tony closed beacause the landlord increased rent by 150%. The greed in this town is astounding. Do the Jedlicka’s still own the building?
Landlords are easy to blame. But checking the tax collectors website shows this property sold back in 2020 and the property tax bill went up 10x (that’s 1000%). The prior owners paid 1/10th what the current owners are now paying (took a few years to get that reassessment issued), a savings they passed on to TJ’s apparently. Add into that the cost of a new roof, plumbing repairs, new AC unit now vs. 10+ years ago…. and you start to appreciate that buildings are expensive to maintain (properly) and eventually rents have to be increased to cover the expenses as no business will operate for long selling their goods for less than the cost to provide them.
Don’t be foolish, 3:30. Commercial landlords are turning a fat profit on the backs of their tenants.
The reason the taxes went up is because the owners had the property a long time. Under CA law it cannot be reassessed more than 2% higher a year until it sells, then it is assessed at full value based on that sale. This is what the Jarvis people wanted. because of this new buyers always carry a heavier burden than those who can hold the property for a long time. Whether fair or not, it is a pretty well known system and does not justify a huge rent increase well beyond the cost of the new taxes. That justification is just greed.
If the property tax assessment was reassessed every few years like other states, the owners would have had to sell or raise rents a long time ago, leading to something like this happening sooner, and more out of town landlords coming in.
As a small time landlord with just a few properties I inherited (meaning I did zero “bootstrapping work” and didn’t earn this, simply the beneficiary of privilege and generational wealth), I would much rather have solid long-term tenants that take of the place than gouge people every year or so and deal with constant turnover. I understand the need to make payments and market rate and all that but come on, a lot of these landlords are development or investment companies that gobble up properties left and right.
*take care of the place
When my parents pass, I will also inherit properties and be a landlord. I cannot wait to continue to charge just enough to cover the costs of home ownership and maintenance, just like my parents do now. They, and I, refuse to be evil, profiteering landlords.
Capitalism is gross. Things need to change. If you’re not part of the solution, you’re part of the problem.
If your parents pass along properties that they own free and clear, there is zero chance that you will be charging only what it costs to maintain the properties. That would be 10x lower than market rate on a property with inherited Prop 13 rates.
Prop 19 put an end to inheriting your parent’s prop 13 tax basis. When you inherit the rental properties they will be re-assessed at market value. If your parents owned properties in this area for decades, that could easily increase your tax bill by 10-20x. If you keep the properties, you’ll have to raise the rent to cover the property tax. However, you may only be allowed to raise it by 10% per year per state rent control law. That could result in operating at a loss if the rents are way below market. Alternatively, you could sell the property which would almost certainly require you to evict everyone so the new owner can update it and rent at fair market value.
What is TJ Paws?
Pet grooming business.
It closed a while ago. Space has had some work done on it and a new pet washing place is going in. I just saw the sign on the door the other day. Hopefully the owner doesn’t sit outside daily and smoke like the prior tenant
SBMH2015: You said exactly what I was thinking when I came across this news. Every single time (or so it seemed) I went past TJ Paws, some dude was outside smoking. Such a terrible addiction.
Yes and he was very very very rude when you reminded him of the new ordinance in town. There is a parking lot a few steps from where he habitually smoked so it would have been no inconvenience to go there. But blocking the sidewalk and smoking in the public right of way was extremely rude. Karma I guess
Tony is a strange dude but he cared about his customers’(both human and four legged kinds); he gave discounts to those who served in military.
Sorry to see it go. Tony is a good man, and a vet. He always treated us well there.
Wow SBMH, that’s awfully harsh. I tell ya, nobody’s perfect and local businesses run by people who care and try hard are becoming scarce here. I hate smoke too, but hold your breath? You don’t have to go there. I appreciate vets.