A bill that limits how much landlords can charge for security deposits was signed into law by Gov. Gavin Newsom.
Assembly Bill 12 by Assemblymember Matt Haney, D-San Francisco, limits the amount of security deposits to the equivalent of one month’s rent.
“This new law is a simple common sense change that will have an enormous impact on housing affordability for families in California, while also balancing a landlord’s need to protect themselves against potential liability,” Haney said in a news release.
The law goes into effect July 1, 2024, and exempts landlords with only two properties with a total of no more than four units.
Landlords will still be able to seek damages from tenants who are responsible for harm to the property that exceeds the amount of the security deposit. Understanding how to protect yourself as a landlord in such situations is crucial, as it involves navigating the legal aspects of property damage and ensuring your rights are upheld. For more information on tenant responsibilities and landlord rights, visit https://www.housereal.net/. Further, if you’re a property owner in Florida and your house’s or current space’s fire alarm system and/or water-based fire protection system such as a sprinkler system is inoperational, you are required by the National Fire Protection Association (NFPA) and Florida Statute to implement a fire watch should that system become impaired. You may seek expert help from professional Fire Watch Services in Cape Coral.
“Enormous impact?” Most landlords also charge first and last month’s rent along with the security deposit when moving in. Then factor in pet rent, charging for a parking spot, etc. Not blaming them at all, it’s just the cost of doing business. On the flipside, my last landlord hit me with a cleaning charge that ate half the security deposit after sending potential renters to the place for me to show around after I gave my 30 day notice.
…anything to avoid dealing with major issues of the state… Newscum wants the exposure to say – see what I did! …. while avoiding the big problems…. he needs to go – and I don’t mean to the White House
Housing is a pretty major issue for the state.
Another triumph for Governor hair-doo and the dems
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Landlords and property managers will simply do what liberals do and that is change the definition.
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Ill change the language in my contracts to state a required “cleaning deposit”.. lo and behold!!! It’ll be equal to or more than the monthly rent.
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Suck it, Haney.
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Or “Non-refundable Cleaning Fee”.
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See, it’s not a deposit. It’s a fee to be paid.
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Suck it, Haney.
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Why anyone wants to be a landlord in California is beyond comprehension.
$3200/month for a junky 2-bdr place built in the 1960s, like almost everything is around here? License to print money…
If you are already holding properties in CA you can print money. If you are looking to buy a new rental property, probably better to look elsewhere, lol.
Everything comes down to incumbent advantages in California.
I thought laws were something that the populace voted on? Not some scum bag passing without populace opinion? He can pass a mandate but not create laws. If people keep letting him do stuff like this, we will not have any rights. While I am not into landlords charging the amounts they do for rent and deposits, I am for sure not into some commie scum bag telling them what they can and cannot do without the vote!
We live in a representative democracy. With the exception of ballot propositions, we do not vote on laws. Rather, we vote for representatives who write and vote on laws.
I can’t imagine why anybody would be a landlord here. Might as well let them stay for free with no money down. While you’re at it, don’t charge a security deposit and let them destroy the property. If you complain about it, the liberals will say you’re racist.
The house two doors down tried renting. 12 Hispanics in one house, they had to replace an entire wall and all the flooring and they exploded the pipes under the house (cherry bomb?). Plumbers were there for weeks. Driveway is covered in oil drippings.
I saw an appraiser there today. I guess they Gave up on renting. Bad judge of character shouldn’t be a landlord I guess.
as soon as a California legislator claims something is a “common sense” change, my hackles raise up.
You couldn’t pay me to be a landlord.
Who will renters rent from when California drives out investment property owners?
Naturally, clean and efficient government sponsored housing. Don’t fool yourself, it will be very expensive. Further, they’ll be quick to garnish wages for unpaid rent and evict with impunity.
Consider this: Investment property owners have a certain degree of accountability and a certain ability to manage property. The California Government has zero accountability, and can’t manage itself, let alone property.
It’s a shame what tenants are allowed to do. Thank you Governor Newsome! My tenant has been living rent free since May. One would think since it’s my house and living there rent free for four months I should be able to go in there and throw them. They shouldn’t have any rights at all if they can’t pay their rent for that long
Insanity. I just spent 10000 to evict Someone. They had free rent since July. I spent 4000 to attorneys to get them outLost 4 months rent and 2000 to clean up up house. Still have to fix all the things they broke. They just drove up up rental price. Great call Gavin.Now let’s see what it cost to rent in ca. selling this place and buying one in Texas. Owner has rights there
Fix all the big problems dingbat. People living in the creeks and roaming the streets stealing from hard worker people. Get the illegal peoples outta here. They are ruining the neighborhoods and schools. Sacramento is spending more money then they have. I can’t do that without going to jail. California is the laughingstock of the nation