Oct 09
California rent control does a forced roll back of rents increased after the bill’s introduction.
This penalizes landlords who left long term tenants at below market rent and then raised to market at turn over, a common practice in our industry as well as a benefit to long term tenants.
From the National Law Review:
[California] AB1482 will apply to all rent increases occurring on or after March 15, 2019. In the event that an owner increased the rent by more than five percent (5%) plus the percentage change in the cost of living, between March 15, 2019, and January 1, 2020, the applicable rent on January 1, 2020, will be the rent as of March 15, 2019, plus the maximum permissible increase.
It is worth reading the full article
