California rent control bill advances in Senate this week

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AB 1482 could expand rent control in Los Angeles and now includes a “just cause” provision
AB 1482 will have to be vetted next by the senate appropriations committee. If it ultimately approved in the full Senate (it already passed the Assembly) and signed into law by Gov. Gavin Newsom, it would make it illegal for property owners to raise rents more than 7 percent, plus the Consumer Price Index, in one year. The CPI averages about 2.5 percent in California. Homes constructed in the past 10 years would be exempt, and the law would expire in 2023.

The bill was heard by the committee Tuesday afternoon during a marathon session, but because several committee members were absent, it didn’t get the votes it needed until shortly before midnight. Several Los Angeles advocates, including a rep for Mayor Eric Garcetti and organizers with ACT-LA, were at the Capitol in Sacramento to register their support.
California is one step closer toward having statewide rent control.

I believe landlords should have room to operate at a reasonable profit. This bill as amended… gives landlords plenty of room to raise rents, some might argue too much room.

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