In the wake of devastating wildfires in Los Angeles County, landlords have been accused of price gouging, raising rents significantly above market value. In response, the L.A. County Board of Supervisors convened to address this illegal practice, raising civil penalties for offenders from $10,000 to $50,000. They are also proposing regulations against corporate landlords using algorithmic pricing tools that drive rents up. Reports indicated over 915 complaints received regarding price gouging, highlighting the urgent need for intervention to protect victims of the wildfires from exploitation.
Some landlords in Los Angeles County are reportedly raising rental prices three to four times fair market value, exploiting those displaced by wildfires.
The L.A. County Board of Supervisors has increased penalties for price gouging during emergencies from $10,000 to $50,000 for violations.
The county's Department of Consumer and Business Affairs is taking steps to prevent corporate landlords from using algorithms to fix prices and push rents higher.
The Rent Brigade found more than 2,800 instances of rent gouging in L.A. County, mostly affecting individuals displaced by the recent wildfires.
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