If you’re a realtor who manages properties for your clients, you know that staying on top of the laws in California is essential because your business depends on it.
In this article, we will provide you with an overview of the laws affecting landlords in California and changes to those laws that you might not be aware of.
The Tenant Protection Act (AB 1482)
Approved by voters in 2019, the Tenant Protection Act (AB 1482) sets limits on annual rent increases.
Landlords can increase the rent to either 10% or 5%, plus the cost-of-living adjustment.
AB1482 only applies to properties that were built within the last 15 and it’s expected to expire on January 1st, 2030.
The Tenant Protection Act also provides tenants with more rights than before including the ability to report issues to their landlord without the fear of rent increases, or other unlawful actions from the landlord.
New Security Deposit Cap
Starting July 1st, 2024, landlords in California will be able to require a higher security deposit than in years past, equivalent to one month’s rent, and landlords who own up to four dwelling units can collect security deposits that amount to approximately two months' rent.
How Evictions In California Have Changed
Landlords in California who are planning on evicting their tenants must know that the State only recognizes two types of evictions. These include:
At Fault Eviction – This is an eviction that’s resulted in a tenant’s actions including non-payment of their rent, lease violations, refusal of lawful entry, or criminal activity.
No-Faut Eviction – These evictions typically occur as the result of the landlord performing a substantial remodel on the property, government orders, or other local laws that require the tenant to vacate the property.
With AB 1482, the landlord is also required to pay relocation assistance to tenants who have lived in a rental property for 12-24 months.
Contact GoldenWest Management
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Our dedicated team ensures seamless transactions, proactive maintenance, and unparalleled customer service. Trust in our expertise to maximize your property's potential and optimize your investment returns.
Take the leap towards hassle-free property ownership or renting today! Contact us at (866) 545-5303 or click here to connect with us online.
