Statewide Rent Control Update
On Wednesday, May 29 the California Assembly passed AB 1482 which establishes a cap on rent increases equal to the Consumer Price Index plus 7 percent. The bill has a number of exemptions including property owners who own 10 or fewer single-family homes and homes less than 10 years old. The legislation, and all of its requirements, will expire in 2023. While the Assembly passed the bill, it still needs to be heard by the California Senate and signed by the Governor. More information about the AB 1482 and other rental housing legislation is here: https://na02.mypinpointe.com/l/3SEChnjV_aEO8GQMhI_obDM1cYxWttCgrT5uPEv4eJA.