- Time to Take Action -

 

The Veritas Tenants Association (VTA) — your citywide tenant union for renters living in Veritas/GreenTree buildings — is bringing rent increases to the negotiating table! This means a coordinated set of actions over time to win a citywide contract, or agreement, for all the VTA-represented buildings on the specific issue of banked rent increases and pass-throughs.

 

Veritas — SF’s biggest landlord with $4.5 billion in assets — wants to impose rent increases and pass-throughs that have accumulated over the last three years (2020, 2021, 2022). The total rent increase, whether it’s imposed all at once or over time, is more than 13%. During those three years, Veritas took advantage of Covid-19 pandemic relief, got $90 million to buy buildings in Los Angeles, and received about $5.7 million from the federal government’s small-business program — which was then forgiven.

 

As rent-controlled tenants, we should expect reasonable and fair increases. We should also expect that a landlord avoids excessive increases, especially when those increases are not needed to cover operating costs. It is not our responsibility to help Veritas increase profit for their investors, while our neighbors and neighborhoods work to stay afloat from the impacts of the pandemic.