October 1, 2023 Dear Property Owners, The attorney general has certified a ballot initiative for the 2024 election to reinstate rent control in Massachusetts. In the proponents’ own words, this ballot initiative looks to “regulate residential rents and associated fees and deposits, including brokers fees” and “regulate residential evictions,” as well as “regulate removal of housing units from the rental market, such as by demolition or condominium conversion.” Further, the initiative looks to “provide for or designate an officer, administrator, board or committee to administer and enforce the ordinance or by-law.” Rent control is a failed policy that was banned at the ballot box in 1994. It stunted the construction of new housing, made it more difficult for property owners to collect their hard- earned rental income, and led to the disrepair of existing housing stock. It also made it more difficult for owners to remove noncompliant tenants from their properties for nonpayment, vandalism, and other contract breaches. This harmed not only the owners and their properties, but all the cooperative tenants who depended on their housing providers for safe, maintained living places. Beyond Massachusetts, rent control has failed wherever it has been implemented — distorting housing markets, discouraging property investments, reducing the availability of rental units, and ultimately failing to address the root causes of housing affordability. Shortly after it was implemented in St. Paul, Minnesota, as just one example, the migration of people and businesses to neighboring Minneapolis saw lower rents and more housing options in free market Minneapolis, contrasting the rising rents and reduced housing availability in rent-controlled St. Paul — in what has truly been a tale of two cities. Only within a matter of months, the Mayor of St. Paul sought to walk back rent control after witnessing its damaging effects on the city. As concerned property owners, we cannot afford to sit idly by while our investments and the communities we serve are put at risk. We must take a stand against rent control, advocating for better solutions that promote sustainable growth and affordable housing without stifling our rights as property owners. We play a vital role in sustaining our communities and the growth of other industries that depend upon us — from the tradespeople and materials suppliers to the banking, brokerage, and insurance industries, among others. The real answer is that our local, state, and federal government must step up to build low-income housing, legislate incentives for private entities to build affordable housing, and grow rental aid for those in need. Our mission at the Small Property Owners Association has always been to advocate for fair and equitable housing policies that support both property owners and tenants. We firmly believe that the best way to foster thriving communities is through collaboration and balanced regulations that encourage investment and growth. To effectively combat rent control, we are launching a fundraising campaign to bolster our efforts in raising awareness about the negative impacts of rent control and lobbying for alternative housing policies that work for both property owners and tenants. Your support is invaluable to our cause. Your contributions will be used for: 1. Public Awareness Campaigns : We will spread the message about the adverse effects of rent control through media campaigns, community events, and educational materials, informing the public and policymakers about the importance of preserving a fair and balanced housing market. 2. Advocacy and Lobbying : We will work tirelessly to represent our interests at the legislative level, engaging with policymakers to promote alternative housing policies that genuinely address housing affordability issues, while safeguarding our rights as property owners. 3. Legal Resources : In case rent control legislation is proposed, we will ensure that we have the necessary legal resources to challenge it in court if it violates our constitutional rights as property owners. Together, we can make a real difference to save Boston and protect our investments, our communities, and the future of housing in Massachusetts. Please consider contributing to our fundraising campaign. To contribute, you can visit our website, www.spoa.com/join, or send your donations to 840 Summer Street Boston, MA 02127 We are asking for your support. Please make a contribution at one of the following levels: $250 $500 $1,000 $2,500 $5,000 $10,000 We must also assemble a group of volunteers to help our campaign by leading efforts in each city and town, and eventually in every precinct. Please contact SPOA Vice President, Amir Shahsavari, by phone at 617-354-5533, or email at askspoa@gmail.com Our businesses and livelihoods are at stake, along with the health and prosperity of our communities. We can’t afford to sit this battle out. Please join us today! Sincerely, Small Property Owners Association (SPOA) P.S. We are asking for your support. Please make a contribution at one of the following levels: $250 $500 $1,000 $2,500 $5,000 $10,000. And please contact us following the instructions above to volunteer today! Our businesses, our livelihoods, and our communities depend on it!