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JACQUELINE(at)SCOTT-PROPERTIES(dotted)COMWhen Assembly Bill 12 goes into effect on July 1, 2024, most landlords can no longer charge more than one month’s rent as a security deposit. Before, landlords could charge up to two months’ rent for unfurnished properties, or three months’ rent for furnished properties.
In the face of high costs and various economic headwinds, rental housing providers continue to experience incredibly narrow margins that cannot sustainably withstand additional strain. In fact, according to the National Apartment Association's (NAA) Dollar of Rent research, 93 cents of every rent dollar pay for things necessary for the operation of rental homes.
Will the third time be the charm for rent control in California? The battle lines are forming over a ballot measure, designated last week as Proposition 33 and labeled by its supporters as the Justice for Renters Act, that aims to repeal statewide rent control restrictions. Two other ballot initiatives to lift statewide rent control restrictions were defeated by large margins in 2018 and 2020.
Rental Board recommendations for minor amendments pass unanimously; proposals from landlord groups deferred for future consideration On Monday, the Pasadena City Council voted to prepare a series of targeted amendments to the city’s rent control law for inclusion on the November ballot but stopped short of enacting more substantive changes sought by some property owner groups. In the unanimous June 17 vote, the Council supported the preparation of all six recommendations from the Pasadena Rental Housing Board to revise Article XVIII of the City Charter.
The Los Angeles County Board of Supervisors has advanced a proposal to cap rent increases for rent-stabilized units in unincorporated parts of the county. The supervisors by a 3-2 margin approved a resolution to prohibit landlords of rent-stabilized apartments in unincorporated L.A. County from raising rent by more than 3% a year. The proposal, which requires a second vote by the county board to become law, also caps annual rent increases for small property owners at 4% and sets the bar at 5% for owners of luxury units, the Los Angeles Times reported.
Fair & Easy: Debunking Common Myths About RUBS In the rental industry, utility billing is full of misconceptions, especially among Residents. Master-billed utility costs are often simply divided equally among units, or included with rent, regardless of each Resident’s consumption.
The Los Angeles Bureau of Sanitation plans to increase sewer fees by almost 20%, adding yet another price hike for the cost of water in L.A. According to the Bureau, the first increase is expected to be one of seven, contingent on support from the Los Angeles City Council. By 2028, Angelenos could see their bill nearly double, affecting both single-family dwellers and apartment renters alike. The spike could cost upward of $150 by 2028 if approved, according to the Los Angeles Times.
The California Supreme Court will hear arguments May 8 about the constitutionality of a measure planned for November’s ballot that would reverse Los Angeles’ real estate transfer tax and dozens of other recently enacted special taxes.
LOS ANGELES, Calif. — The Los Angeles City Council voted Tuesday to consider prohibiting landlords from inquiring about prospective tenants' criminal history.
What’s new: The proposed changes address tenant complaints about landlords failing to address long-standing problems. County leaders are now considering a plan that would require inspectors to visit every apartment in unincorporated L.A. County at least once every four years. Under the proposal, landlords who persistently fail to fix code violations discovered by inspectors could have their properties put into a county-run program that would withhold rent payments until repairs are made.