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|October 16, 2019|
Rent control coming to California
OAKLAND – (INT) - A renter protection bill signed by Governor Newsom Tuesday will cap annual rent increases in California and give renters added eviction protections.
AB 1482 is being touted as the strongest set of tenant protections in the history of California. It will be welcomed by as many as 8 million California renters.
It will cap annual rent increases to the Consumer Price Index (CPI) plus five percent. CPI varies by metro area, but it averages roughly to 2.5 percent in California. Thus, under the cap of CPI plus five percent listed in AB 1482, annual rent increases will be capped to approximately 7.5 percent throughout the state. Rent increases cannot exceed 10 percent under the law.
It comes in the midst of an unprecedented housing crisis.
“Hardworking families should not be forced to suffer while we work towards the ultimate goal of increasing our housing supply and building our way out of this crisis,” said Assemblymember Timothy Grayson.
Authors of the rent control bill says that many California renters are just one rent increase or eviction away from experiencing homelessness.
Story Date: October 13, 2019