LA County Extends Tenant Protections
Last month, the Los Angeles County Board of Supervisors voted by 4 to 1 to extend rent control and eviction protections in the unincorporated areas of the county. The temporary rent stabilization policy was initially passed in September 2018 for six months, while the county considered a permanent alternative.
The supervisors continued the temporary cap on rent increases to three percent annually until the end of the year and expanded protections requiring landlords to show “just cause” before evictions. The extension provides county officials more time to craft a permanent ordinance regulating rents in the unincorporated jurisdictions in the county, which includes neighborhoods that are home to one million residents—hundreds of thousands of whom are renters. In additions, the Board of Supervisors requested that county agencies establish a rent review board to oversee current and future measures related to rent stabilization, mobile home regulation, and tenant protections.
Supervisor Sheila Kuehl backed the creation of the ordinance and was supported by housing advocates. Proponents of the ordinance believe that the rent stabilization policy will prevent displacement and homelessness, while critics said that the housing instability can be attributed to housing scarcity, and not predatory landlords or owners. The County hopes to enact a permanent ordinance this fall.
The 3rd Annual Middle-Market Multifamily Forum (West) will take place on May 14–15, 2019, in Santa Monica, CA. Industry experts will present and lead discussions on the latest financing options, acquisitions strategies, and debt and equity structures to an anticipated crowd of more than 500 attendees.
What We’re Reading: ROAR–Building Resilient Organizations. ROAR showcases how the world-famous San Diego Zoo created a high-performance culture and details how to integrate those strategies into one’s organization for high impact. LDC will incorporate some of the best practices both on our teams and with our clients.