El Dorado Owner Applies for Condo Conversion

In response to the filing of the Rent Control Initiative, the owner of El Dorado has applied with the city to do a condo conversion. The lots we live on will be up for sale to us. I believe that most of us will NOT be able to afford to buy our lot. Often, a condo conversion of a mobile home park is to defeat rent control. If one lot sells, there can be no rent control in the park. They could sell a lot for $1 just to defeat rent control. If the rent control initiative becomes law first the conversion will be prevented by the law, in my opinion. If they win, there will be no stopping their greed. They will have no obsticles to raising our rents beyond what we can afford (they have already done that to some here). Our home values are at least $100,00 less than at Rancho Santa Paula, where they have rent control. Rancho's average rent is about $370 per month while ours is about $700, almost double. There are ladies in El Dorado whose Social Security is their only income and it barely covers the rent and utilities. They have stolen our home equity, which is the life savings of many of the seniors in El Dorado. The owner and management company owner should be ashamed to go out in public.