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2 <br /> <br />After 10 years of 4% rent increases the owner's income for all 58 spaces is $1,030,250 which is $306,410 more than <br />year 1 which is a 42% increase in income <br /> <br />After 18 years of 4% rent increases, at which time the tenant is now paying double the rent as in year 1, the owner's <br />income for all 58 spaces is $1,409,968 which is $686,128 more than year 1 which is a 95% increase in income <br /> <br />In the 18 years, the owner has made $18.5 MILLION in rents and gotten over $320,000 from that one tenant with a 4% <br />rent annual increase <br /> <br />This is still about $1 Million a year in rental income for 18 years. Even with operating costs this is NOT a small return. <br /> <br /> <br /> <br /> <br /> <br />From: <br />To: PBallew@sanleandro.org <br />Cc: tliao@sanleandro.org <br />Subject: Re: Mobile Home Space Rent Stabilization Ordinance - spreadsheet <br />Date: Mon, 4 Mar 2019 18:37:14 GMT <br />Pete - <br />Per your request attached is the little spreadsheet I mentioned in my email. <br /> <br />I have very old technology but you should be able to read my .xls file attached. And there are no fancy bells and <br />whistles because I didn't need them, just an easier way to do calculations. <br /> <br />This file started because I was trying to figure out the trajectory of my annual 7% increase (at the bottom of the <br />spreadsheet). My rent has gone up on schedule since 2015. Property management company just did a minor repair - <br />recaulked the bathroom tub which I said I was going to do again this summer - so the next one is imminent. <br /> <br />Lest you have forgotten why I am still speaking up ... <br />Virginia <br /> <br />---------- Original Message ---------- <br />From: "Ballew, Pete" <PBallew@sanleandro.org> <br />To: <br />Subject: Re: Mobile Home Space Rent Stabilization Ordinance - comments <br />Date: Mon, 4 Mar 2019 06:36:02 +0000 <br />Thank you, Virginia. This ordinance is comprehensive, maybe even too comprehensive. I had to read it three times to <br />get it all! I don’t know where we will end up. We’re trying to balance many competing interests on this one. I am <br />interested in the simple spreadsheet you have if you can share it. Thank you. <br /> <br />Pete Ballew <br />City Council Member <br />510-680-0981 <br />