Archive for May, 2010

LA Rent Freeze… Dodged that bullet just barely

Friday, May 28th, 2010

Author: Scott Goodman •

If you’re an apartment owner subject to the Los Angeles Housing Department Rent Stabilization Ordinance (LAHD RSO) – commonly referred to as “rent control” – you can stop holding your breath.  Last Friday , May 21, 2010, the LA City Council voted 10 to 5 to send a motion for a 4 month rent freeze back to the Housing Committee, effectually killing it.  An optimist might point out that 4 month moratorium on rent increases is not that big of a deal.  I tend to view this as what started out as a temporary 4 month freeze, would find a way to become permanent.  You may recall that tenant notice requirements for no fault evictions went the same way.  Up until a few years ago in California, landlords were required to give tenants a 30 day notice to vacate, a sort of no fault eviction.  Then a “temporary law” came along requiring a 60 day notice to vacate.  At some point it was supposed to go back to 30 days.  It never did.  The state legislature made the change permanent (see C.C.1946.1(b))  Now you have to give 60 days’ notice to vacate.  So count your blessings.  Los Angeles rent controlled apartment owners can raise rents this year the allotted 3% as prescribe by the LAHD.