-
Thai Hostages Return From Gaza - 13 mins ago
-
Super Bowl LIX MVP Expert Predictions For Eagles vs Chiefs - 33 mins ago
-
NIH cuts put medical research at risk, scientists say, raising concerns at UC and elsewhere - 46 mins ago
-
U.S.A.I.D. Workers Brace for the Worst - 57 mins ago
-
Powerful 7.6 Magnitude Earthquake Strikes Near Cayman Islands - about 1 hour ago
-
Opinion | This Isn’t the Donald Trump America Elected - 2 hours ago
-
‘Connections’ February 9: Hints and Answers for Puzzle #609 - 2 hours ago
-
UFC 312: Dricus Du Plessis Outworks Sean Strickland For Dominant Victory In Title Rematch - 2 hours ago
-
Sam Nujoma of Namibia Dead at 95 - 2 hours ago
-
UFC 312: Zhang Weili Dominates Tatiana Suarez to Retain Women’s Strawweight Title - 3 hours ago
Newsom lifts caps for new home rents in wealthy L.A. neighborhoods
Gov. Gavin Newsom has lifted a price cap on new rental listings for some single-family homes in Los Angeles, responding to concerns that the rules had been restricting the availability of housing in the wake of last month’s wildfires.
Triggered by the Eaton and Palisades fires, California’s price-gouging laws have limited the monthly rental price for Los Angeles County properties that had not been offered for rent in the previous year to, in effect, no higher than $9,554 a month. That amount was below pre-fire prices for larger houses in wealthier neighborhoods. Real estate analysts have told The Times that the price cap could be keeping thousands of potential rentals off the market. More than 11,500 homes were destroyed in last month’s fires.
Under an executive order issued Monday, Newsom waived the price-gouging rules for new rental listings of single-family-homes of four bedrooms or larger in Bel Air, Beverly Hills, Brentwood and 24 other ZIP codes.
“This executive order provides targeted relief from regulations that impact victims and would otherwise slow this community’s quick recovery,” Newsom said in a release.
Other provisions of the price-gouging law remain in effect, including one that prohibits landlords with properties offered for rent within the past year from increasing the price by more than 10%.
Newsom’s order Monday also expanded those protections. As written, the price-gouging laws apply to leases of one year or less. Amid reports that landlords were skirting the rules by having tenants sign 366-day leases, Newsom’s order extends the rules to rental agreements of any length.
The price-gouging restrictions will last until March 8 unless extended.
Source link