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Rent hikes could be smaller for L.A. tenants under new plan at City Hall

02/13/2020 8:14 AM | Margaret Fulton (Administrator)

Los Angeles City Councilman Mike Bonin wants to clamp down on rent increases for hundreds of thousands of tenants, tightening the rules under a longstanding city ordinance. Under a new proposal, Bonin wants to adjust those rules so that landlords can no longer boost rents by 3% even when inflation is much lower, eliminating that "floor." His plan would cap annual increases at 60% of the consumer price index.

Read More: https://www.msn.com/en-us/money/realestate/rent-hikes-could-be-smaller-for-l-a-tenants-under-new-plan-at-city-hall/ar-BBZWqhp?ocid=hplocalnews

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