The Los Angeles City Council is considering changing rent increase regulations for rent-controlled properties to prevent tenant price shocks amid high inflation while allowing landlords fair returns.
Los Angeles has one of the least affordable housing markets in the country, with over half of tenants being rent-burdened. Many tenants spend upwards of 90% of their income on rent.
City leaders are focused on maintaining housing stability for tenants, as rising rents contribute to the homelessness crisis. A balance is needed to support both tenants and landlords.
Following a rent freeze during the pandemic, operating costs for property owners have surged, making it challenging for landlords to maintain their units without sufficient rent increases.
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