Informed guidance in a new era of statewide rent caps & just cause eviction rules
The Governor is expected to sign AB 1482, groundbreaking legislation that imposes rent caps on a substantial number of rental units previously exempted from rent control because of Costa-Hawkins. Moreover, the bill will impose "just cause" eviction requirements once a tenant has resided in the unit for 12 months, or 24 months if a roommate moves in. With a fixed-term lease, there must be an allowed reason for terminating the tenancy.
The statewide protections will not apply to housing built within the past 15 years, though it will apply to property previously exempt as “new construction” under Costa-Hawkins. The law will not apply to most single-family homes and condominiums, unless owned by a corporation, real estate trust, or an LLC when at least one member is a corporation.
We weigh in.
There is much to discuss and Bornstein Law has started a thread.