SMRPH TO THE RESCUE

SMRPH is a Santa Monica charter amendment initiative on the November ballot that gives owners the right to convert their apartments to condos. SMRPH is similar to the old TORCA condo conversion program except that owners do not need to pay the onerous tax.

At a time when high-end rents are dropping and condo prices soaring, SMRPH is a welcome exit strategy. Additionally, even if you do not want to convert your building your property value will go up substantially. The mere fact that a future owner will have the opportunity to convert the building creates more demand for Santa Monica properties.

Another benefit of SMRPH is that it allows single family homes, condominiums, and apartment buildings to be reconstructed to the same size and number of units that existed before any natural disaster or fire.

Tenants like SMRPH because they may have the opportunity to buy their apartment that they already live in. If the tenants choose not to buy their units they will be given a 99-year lease. Tenants are also protected against Ellis and owner occupancy evictions.

Remember a SMRPH condo conversion is completely voluntary. Thus, neither tenant nor owner can be forced to convert. SMRPH allows freedom of choice.

We are planning a multi-pronged campaign. Our goal is to educate tenants, homeowners, condo owners and apartment owners. We're confident that once people get informed about the benefits of SMRPH, it will pass. Please visit our excellent website at www.smrph.org.

Our goal is to place at least a thousand yard signs around Santa Monica directing owners and tenants to look up our website. We will also send out several mailers extolling the benefits of SMRPH.

We need everyone's help. We need permission to put yard signs in front of apartment buildings and homes. Currently our biggest need is money. Every owner needs to help pull their share by giving a donation based on the number of units owned. Please give at least ten to one hundred dollars per unit. Checks can be made payable to "YES on SMRPH" and mailed either to the ACTION office or to:

YES on SMRPH
PO Box 2096
Santa Monica, CA 90406.

If you have any specific questions about SMRPH, please do not hesitate to give me a call at 310-453-9656. Thanks for your support.