L
os Angeles landlords may face restrictions on raising rents or evicting tenants affected by the recent devastating wildfires. Councilmembers Eunisses Hernandez and Hugo Soto-Martínez introduced a motion to limit rent hikes for a year in response to concerns about price gouging. The measure aims to protect low-income renters, who are already struggling with the city's housing crisis.
The fires destroyed an estimated 12,000 structures, mostly single-family homes, leaving many renters vulnerable to exploitation. Hernandez warned that if action isn't taken, rents and evictions will skyrocket in a market already plagued by unaffordability. The council members' motion is a response to reports of price gouging, with some landlords reportedly increasing rents by as much as 20% since the fires.
The Apartment Association of Greater Los Angeles pushed back against the idea of rent freezes, arguing that it would discourage housing providers from making their units available. However, tenant advocates and city officials are urging strict enforcement of California's price-gouging laws, which cap rent increases at 10% during declared states of emergency.
A list compiled by the Los Angeles Tenant Union reported over 600 instances of suspected price gouging in just two days, highlighting the need for action. The city's Department of Consumer and Business Affairs received around 200 complaints since the fires. If convicted, landlords face up to a year in jail and thousands of dollars in fines.
Landlords have offered some concessions, including rental discounts and waived security deposits, but tenant advocates argue that more needs to be done to protect vulnerable renters. The city's housing crisis has been exacerbated by the pandemic, with investors hesitant to spend money on Los Angeles apartments due to outmigration and Measure ULA, the city's transfer tax.
realestate
Los Angeles to Implement Rent Freeze and Eviction Protections for Wildfire Survivors
Los Angeles landlords may face restrictions on rent hikes and evictions for tenants affected by recent fires.
Read More - realestate
realestate
RE/MAX Agents Reveal the Real Benefits of Partnership
A collaborative community is a key competitive advantage for the brand.
Read More - realestate
realestate
Boise Commercial Property Transactions: Leases, Sales & Renewals
Stay up-to-date on Boise commercial real estate news, including leases, sales, and renewals for office, retail, and industrial properties.
Read More
realestate
Last Chance: Feb. 28 Deadline for Senior Tax Deferral Program
Illinois seniors with household income up to $65,000 may defer real estate taxes through the state's Senior Citizen Real Estate Tax Deferral Program.