Well as you have probably heard, the California government succumbed to the pressure from progressives and renter’s groups and passed statewide rent control laws. In this article I wanted to highlight how the changes are going to affect landlords.
First thing to know is that if your building is in a rent control
Culver City, Glendale, and the unincorporated areas
Properties built after Oct 1978 and not under rent control will now be subject to the Statewide Rent Control.
Rent increases equal 5% plus the annual CPI Consumer Price Index
Currently for LA and OC the CPI is 3.3%. This will change year to year.
If you raise the rent
A Certificate of Occupancy issued in the last 15 years. So a building built in 2019 would be exempt for 15 years and then in 2034 it would be subject to rent control.
SFRs condos townhomes are not under rent control unless the property is owned by a corp, REIT, or an LLC id the managing member is a corporation.
Owner occupied duplexes if it is your primary residence and you were living there when the tenant moved in.