{"id":2067017,"date":"2023-10-14T04:39:02","date_gmt":"2023-10-14T08:39:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-california-law-limits-rental-deposits-to-one-months-rent\/"},"modified":"2023-10-14T04:42:31","modified_gmt":"2023-10-14T08:42:31","slug":"new-california-law-limits-rental-deposits-to-one-months-rent","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-california-law-limits-rental-deposits-to-one-months-rent\/","title":{"rendered":"California law now restricts rental deposits to just one month&#8217;s rent."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-california-law-limits-rental-deposits-to-one-months-rent%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2067017&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>A New California Law to Limit Rental Deposits<\/h2>\n<p>A new law \u200din California is set \u200dto bring\u2062 relief to tenants by limiting the amount landlords can charge for rental \u2062deposits. Under the law, landlords will be prohibited from charging more than one month&#8217;s rent as\u200b a deposit.<\/p>\n<p>This change comes as a welcome relief for many in\u2063 California, where the cost \u2064of rental\u2062 housing is notoriously high. Supporters \u200cof the law believe it will help alleviate the financial burden on renters in \u2063the state.<\/p>\n<p>The law, known as Assembly Bill (AB) 12, was signed by Governor \u200dGavin Newsom on\u2063 October 11. It will go into effect on July 1, 2024, and applies to\u2064 both furnished and unfurnished residential properties.<\/p>\n<blockquote>\n<h3>Related Stories<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.theepochtimes.com\/us\/california-bill-would-require-maximum-of-one-months-rent-for-security-deposits-5500733?ea_src=author_manual&#038;ea_med=related_stories\"><strong>California Bill Would Require Maximum of One Month&#8217;s Rent for Security Deposits<\/strong><\/a>  &#8211; Published \u200don 9\/28\/2023<\/li>\n<li><a href=\"http:\/\/www.theepochtimes.com\/opinion\/rent-control-and-small-tenant-security-deposits-still-a-bad-idea-3318893?ea_src=author_manual&#038;ea_med=related_stories\"><strong>Rent Control and Limiting Tenant Security Deposits: Still a Bad\u2064 Idea<\/strong><\/a>  \u200b- Published on 4\/20\/2020<\/li>\n<\/ul>\n<\/blockquote>\n<p>Prior to this law, landlords in California were allowed to request up to two months&#8217; rent for an unfurnished rental and \u200bup to \u200bthree months&#8217; rent for a furnished unit. However, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">military service members<\/a> \u200chad \u2062lower\u200b deposit requirements, with landlords only allowed to charge one month&#8217;s rent for an unfurnished place and two months&#8217; rent for a furnished rental.<\/p>\n<p>Assemblyman Matt Haney, who authored the bill, emphasized the significant impact this legislation will have on renters. Many individuals often find themselves going into debt or borrowing \u2062money to secure a rental, and this law aims to alleviate that burden.<\/p>\n<p>In cities \u200dlike San Francisco, \u2062security deposits for a one-bedroom apartment can reach as high as $10,000, excluding\u200d the first \u2063and last month&#8217;s rent.\u2062 Los Angeles has slightly lower costs, with deposits reaching up to $8,000,\u200b according to a legislative analysis.<\/p>\n<div class=\"my-5\">\n<p>Assemblyman Haney expressed his satisfaction with the governor&#8217;s decision to sign the bill, stating, &#8220;I authored AB 12 to stop \u2064California landlords from charging two or sometimes three months&#8217; rent as a security deposit. \u200cYesterday it was signed into law, making California the 12th state to limit security\u200b deposits to one month&#8217;s rent.&#8221;<\/p>\n<\/div>\n<p>The bill passed through both \u200dchambers of the Legislature, with \u200bmostly party-line \u2063votes. In the Assembly, the final vote was 53-14, with all opposing votes\u200d coming from Republicans and 13 members abstaining. In the\u200b Senate, \u200dthe bill\u2063 passed with a vote of 21-9, with 10 members not voting.<\/p>\n<p>While the law sets a limit on rental deposits, there are exceptions. Landlords who inherited a property or are beneficiaries of a family \u200dtrust and own no more than two residential\u200c rental properties \u2062or four dwelling units can\u200c charge up to two months&#8217; rent as a security deposit. Military service\u2064 members are \u2062also\u2062 exempt \u2063from paying more than one month&#8217;s rent as a deposit.<\/p>\n<p>The bill received support from various labor organizations, including the California Nurses Association and the University of California&#8217;s Student Association.\u200b These organizations highlighted \u2062the high cost of rent and security deposits in California, which contribute \u200cto the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-ben-shapiro-debated-ana-kasparian-here-are-the-highlights\/\" title=\"WATCH: Ben Shapiro Debated Ana Kasparian. Here Are The Highlights\">growing homelessness crisis<\/a> in the state.<\/p>\n<p>Despite the\u2064 positive reception from renters, the legislation faced opposition from real \u2062estate associations such as the California\u200b Association of Realtors\u200c and the Apartment Association of Greater \u2062Los Angeles. They argue that the law limits the flexibility of housing providers and may worsen the housing \u200dshortage in the state.<\/p>\n<p>While rental prices in California have slightly decreased, the state still faces significant challenges in providing\u2064 affordable housing. The new law aims to address one aspect of this issue by reducing the\u200d financial burden on tenants when securing a rental property.<\/p>\n<p> <\/p>\n<h2> How will the implementation of\u200b this law affect the housing affordability crisis in \u2064California?<\/h2>\n<p><span>  \u200b S=&#8221;ad&#8221;\/><\/p>\n<p>With the \u2063new law in place, tenants in California can \u2063now breathe a\u200d sigh of relief knowing that their rental deposit will be significantly reduced. The limitation of only one month&#8217;s rent \u2063as a\u200b deposit will provide much-needed \u200bfinancial relief and ensure that renters\u2063 are not\u200b burdened with excessive upfront costs.<\/p>\n<p>The high cost of\u200b rental \u200bhousing in California has been a long-standing issue, with many individuals struggling to find affordable options. The implementation \u200dof this law is seen as \u200ca positive step towards addressing the housing affordability \u2064crisis in the state.<\/p>\n<p>AB 12 will \u2064come into effect\u200c on July\u200c 1, 2024, giving both tenants and landlords ample time \u2062to adjust to the new regulation. It applies to\u200c all types of residential properties, including both\u200c furnished\u200d and unfurnished units, ensuring\u200b that all renters \u200dbenefit \u2062from this change.<\/p>\n<p>It is worth noting that prior to this law, \u2064landlords had the authority to demand\u2063 up to two or \u200bthree months&#8217; rent as a deposit. However, military service members were\u200b subject to lower deposit requirements. This new legislation establishes a uniform standard, ensuring\u200b fairness and equality for all renters.<\/p>\n<p>Assemblyman Matt Haney, the author of AB 12, is confident that this\u200d law \u200bwill have a significant impact on renters&#8217; financial well-being. With many individuals resorting to \u200dborrowing money or going into \u200bdebt to secure a rental, this law will help alleviate their financial\u2062 burden and provide them with\u200d greater stability.<\/p>\n<p>The exorbitant cost of security deposits \u2062in cities \u2062like San\u2063 Francisco and \u200dLos Angeles has been a major concern. With deposits \u200dreaching up to $10,000 and \u2063$8,000 respectively, many individuals \u200dhave been hindered from accessing rental housing. The implementation of AB \u200d12 will ensure that such exorbitant deposit requirements \u2062are no longer allowed, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-california-law-limits-rental-deposits-to-one-months-rent\/\" title=\"California law now restricts rental deposits to just one month's rent.\">giving low-income individuals<\/a> \u2062and families a fair chance at finding suitable \u2064housing.<\/p>\n<p>Overall, the \u200cnew law to limit rental\u2064 deposits in California \u2063is a welcomed and \u200dcrucial step\u2064 towards\u2063 addressing the affordability crisis in the state. By reducing upfront costs for renters, it\u200b not only eases the\u200c financial burden \u200bon individuals\u2063 but \u2063also promotes greater access to affordable \u2062housing. As July \u20621, 2024\u200d approaches, both \u2063tenants and landlords can prepare \u200dfor this positive change that will benefit \u2063the rental\u200c market as a whole.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new California law, signed by Gov. Gavin Newsom, restricts landlords from charging new tenants a deposit exceeding one-month&#8217;s rent. This change aims to alleviate the burden on residents in a state known for its exorbitant rental costs, which are among the highest in the country. The law, Assembly Bill (AB) 12, took effect in October.<\/p>\n","protected":false},"author":242,"featured_media":2067018,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2067017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2067017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/242"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2067017"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2067017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2067018"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2067017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2067017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2067017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}