Landlords in Los Angeles will soon face stricter rent increase regulations. In early February, new rent control laws will go into effect that limit most multifamily property landlords to hiking rent by 1 to 4 percent, down from the 3 to 8 percent limit that was in place for four decades, the Wall Street Journal reported. The new restrictions don’t apply to apartments built after 1979 when an earlier version of rent control laws first took effect. Landlords are still allowed to raise rents to market rates when new tenants move in. About 651,000 apartments, or approximately three quarters of […]
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