Landlords and property owners who had a difficult time navigating the pandemic and the rent moratoriums imposed upon them for the past two years may finally be getting some relief as rent increases are now allowed to proceed once again under multiple state and local laws of California.
For some areas, that increase may be as high as 10% beginning this fall, which is the maximum allowed by law. That number can vary from one city to the next as the cap is set at 5% plus an additional percentage based on the current rate of inflation.
As alluded to, these increases don’t apply equally across the state. Some cities have certain provisions, requirements and even some restrictions still in place that may make it difficult to take full advantage of the increases permitted by law.
To illustrate the various challenges that exist for landlords in California, I want to examine the average prices and rent increases that are allowed in the cities of Santa Monica, Beverly Hills and Los Angeles.
To continue reading the rest of the article, please click on the source link below:
https://www.forbes.com/sites/forbesbusinesscouncil/2022/09/23/the-status-of-rent-increase-in-california/?sh=55dd91aa1d4b
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
