California Caps Security Deposits

BY  ON OCTOBER 18, 2023

As if it weren’t already hard enough to be a landlord in California; The LA Times is reporting that CA Governor Gavin Newsom recently signed several new laws to supposedly protect tenants against eviction, high rental costs, and one that caps security deposits to no more than one-month’s rent. Click here to read more.

“The opposition, including Republicans and moderate Democrats, claimed that landlords take on risk in renting out their homes, and that security deposits ensure they have enough money to cover any damage incurred. Reducing how much landlords can charge upfront, those opposed to the bill warned, could mean more rental housing being pulled from the market.”

“Further limiting a property owner’s ability to financially cover property damage or unpaid rent is an unfair imposition for rental housing providers,” the California Apartment Assn. wrote in opposition to the bill.

Click here to read the full story at the LA Times.

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  • Hamza Ashfaq
    published this page in Updates 2023-10-26 09:44:40 -0600