Feeling the Increase in Crime?
By Matt Williams, Principal, Williams Real Estate Advisors
With the California prison population being reduced by 18,000 inmates since March 2020 and the reduction in police budgets, crime is on the rise and rental property owners must be prepared. Most of the released inmates have committed non-violent crimes, but non-violent offenses just happen to impact rental property owners and their tenants.
These impacts include property and drug crimes such as theft, burglary, robbery, larceny, vandalism, drug possession, drug trafficking, etc. Even though many are happy to see that inmates get a second chance to be a productive part of our society, not all released inmates are sticking to the “straight and narrow” but rather going back to their old criminal ways. To compound the problem, a reduction in police budgets and staffing are making it tougher for our police to respond to the increased crime. For example, the Los Angeles Police Department’s active duty police force will drop to a 12-year low based on the budget cuts approved by the Los Angeles City Council on July 1, 2020. This in turn is creating a perfect storm for a rise in crime that impacts both owners and tenants. In this article, I address how owners need to be prepared to address this situation.