Gov. Gavin Newsom Set To Sign Law Capping Rent Increases
SACRAMENTO (AP) — California Gov. Gavin Newsom says he will sign a law limiting rent increases for some people over the next decade as the nation's most populous state continues to struggle with a housing crisis.
Newsom is scheduled to sign a bill into law on Tuesday that will cap rent increases at 5% each year plus inflation. The bill will also ban landlords from evicting tenants without just cause.
There are many exceptions. The law would not apply to housing built within the last 15 years and would exempt single family homes except those owned by corporations or real estate investment trusts. It would not cover owner-occupied duplexes.
The law authored by Democratic Assemblyman David Chiu would take effect Jan. 1 and expires in 2030.
Copyright 2019 The Associated Press.