What Does The New “Tenant Protection Act” Mean To You?
Do you rent your home? Do you own rental properties? Well, the new year is just around and the corner as are new laws. AB 1482, the new California rent control law, will take effect on January 1st and will impact landlords and tenants.
Many landlords still have questions about how they’ll be impacted.
Here’s a few FAQs for property owners.
How much can I raise the rent each year? You may raise the rent up to 5% plus the applicable Consumer Price Index (CPI) or 10%, whichever is lower.
How many times can I increase the rent each year? For renters that have lived in the unit for more than 12 months, you can raise the rent up to two times within the period, as long as the total increases do not exceed the state’s rent cap.
If the renter moves out, can I raise the rent to more than 5% plus CPI? Yes, the new law does not affect your right to raise the rent to market once the tenant vacates the unit.
What if my unit is currently vacant? You may choose the initial rent for the new tenant. But once the new renter is in the unit, any future rent increases will be subject to rent cap.
How do evictions work under AB 1482? All applicable evictions must be based on “just cause” meaning the owner must have a permissible reason for the eviction. “Just cause” is divided into two categories - at fault evictions and no-fault evictions. (For a complete list of acceptable “just cause” evictions, visit www.cal-rha.org/legislative/ab-1482.)
These are just a few questions you might have, and we are here to help answer your questions. We have created a downloadable one-page explaining what the CA Rent Contol Means to You, visit shannonjonesteam.com/california-rent-control-bill-1482.
the original content as previously seen on ShowMeHome.com