"Assembly Bill 12 goes into effect on July 1, 2024, and under this new law, landlords in San Francisco can no longer charge more than one month's rent as a security deposit, down from two months for unfurnished properties or three months for furnished properties."
"San Francisco Assemblymember Matt Haney sponsored the bill, emphasizing how the high rents in the city result in significant move-in costs, almost equivalent to a home down payment in other states, which hinders families from relocating."
"This legislation aims to ease financial burdens for renters, as highlighted by Haney, who initially learned of the issue from residents struggling to afford high deposits, like a janitor living with his family in a one-bedroom apartment."
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