With statewide rent control on horizon, some LA landlords start hiking rents

Property owners have been responding to recent temporary rent freezes from a flurry of municipalities

TRD LOS ANGELES /
Aug.August 19, 2019 03:00 PM
Assemblyman David Chiu, author of AB 1482 (Credit: iStock)
Assemblyman David Chiu, author of AB 1482 (Credit: iStock)

Landlords have begun pushing back against recent efforts by a flurry of Los Angeles municipalities to adopt stricter rent regulations, and from vows by legislators to enact statewide rent caps.

Some landlords in neighboring cities are responding by hiking rents before any potential regulation hits them, according to the Los Angeles Daily News.

Rents in one Anaheim community, the Casa Grande Apartments, jumped $700 in one month, or 40 percent, on July 1, according to the Daily News report. The owners feared new rent control measures could soon permanently restrict them to below-market rents.

Similar rent hikes have hit places like Newport Beach and Long Beach.

Anaheim, however, had already bucked the rent hike freeze trend that other municipalities have adopted, voting this summer to reject a six-month rent control ordinance that would have limited increases to 5 percent. But cities like Inglewood, Glendale, Long Beach and most recently Culver City, have all passed tighter — though temporary — rent regulation measures.

This week, a state Senate committee will review the proposed statewide bill, which would limit rent increases to 7 percent per year. It would apply to all rental properties older than 10 years. Earlier this summer, Gov. Gavin Newsom said he supports it, and would be in favor of even stronger regulations.

Rent control advocates are also working on a different version of the failed Proposition 10 ballot measure, which would cap rents on more properties and vacant units. [LADN] — Gregory Cornfield


Related Articles

arrow_forward_ios
Art Caption: Clockwise from top left: Assemblyman David Chiu and Gov. Gavin Newsom pushed for a statewide rent control law, L.A. mansions that sold for combined $400+ million, developer Mohamed Hadid battled to save his Bel Air project, Frederik Eklund of Douglas Elliman moved to L.A. and (inset) streaming services gobbled up more space.

LA’s biggest real estate stories of 2019

Tenancy in common arrangementsare growing in gentrifying Eastside neighborhoods like Silver Lake, Echo Park and Glassell Park (Credit: iStock)

LA landlords pitch controversial ownership arrangement as rent law kicks in

Assemblyman David Chiu

Landlords are evicting tenants ahead of rent control law: tenant group

Herb Wesson is proposing drastic measures to regulate market-rate residential development. (Credit: Getty Images)

Inside Herb Wesson’s radical affordable housing plan

Assemblymember David Chiu (Credit: Getty Images, iStock)

Rent law’s “eviction window” created opportunity for LA landlords

Councilmembers Mitch O’Farrell and Curren Price

LA invalidates evictions that landlords sent amid passage of new rent control law

Crown Realty & Development CEO Robert Flaxman (Credit: Getty Images)

Singin’ the Varsity Blues: Developer Robert Flaxman sentenced in admissions scandal

Assemblyman David Chiu and Gov. Gavin Newsom (Credit: Wikipedia and iStock)

California passes landmark rent control law

arrow_forward_ios
Loading...