Southern California’s expensive housing market is going to get a lot more competitive after deadly firestorms torched more than 12,000 homes and other structures in the Los Angeles area, leaving tens of thousands of people without a place to stay.
Already there are reports of rent-gouging, prompting elected leaders to issue stern warnings against the practice and pleading with the public to report unethical property owners who hike up rents above the allotted 10% cap.
California Attorney General Rob Bonta said in a statement Saturday that it is illegal for landlords to accept rent that exceeds the cap, even if someone is offering to pay a higher amount.
“You cannot jack up prices and take advantage of disaster victims, plain and simple,” he said at a news conference.
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A modern three-bedroom condo in a downtown LA high-rise, for example, that was offered at $5,500 a month in October popped back up on Zillow this week with a new asking rent of $8,500. On Saturday, the listing was removed.
The entire state has struggled with the twin crises of housing and homelessness, only recently starting to make inroads to build more affordable homes.
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