know just pay your utilities just pay your utilities I won't give you a rent increase and so and that protects us somewhat because a lot I We have we're under this statewide rent control which can be brutal for some people who got caught with that while they were letting their tenants have very low rent. Mhm. Um I got caught on it on some of the buildings, but it it wasn't didn't affect me as much because we didn't stay that far under the market. We stay under the market as we'd like people to stay a long time. Um…
…that's going to land at some point. Uh some of these deals are like three years deal. I look at it and I just say, you know, as long as it's not in rent control, we I'm under statewide rent control. But if there's a lot of upside in that building, um, I'll take it and take my chances in three years. There's three years left. Some of one of them had four years left. And I'm taking that lower rate knowing that I'm going to get a higher rate. I'm judging I'm I'm basing you have to take you have to predict some things…
it's a free market and they don't under it should be a free market. That's what that's why there would be a lot more people building and that would be you know there would be more supply but they've constrained the supply which puts pressure on the rent. Not only that is the rent control when a you know when a somebody is gets out of college and wants to buy or wants to rent a place it's very high because you can charge whatever you want when it's when it's empty.
…And uh I fixed them up and my neighbors are fixing them up and everything and all of a sudden the county supervisors boom they put this 3% like rent control on and the guy next door to me was halfway through his renovation. He just stopped and I finally I was I I asked him what's going on. He goes I get the same rent anyway whether I renovate it or not because it's not going to change. Yeah. I'm going Oh yeah. And then and and then I you know there were