April 14, 2024

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The Tenant’s Guide to Rent Increases in California for 2023

3 min read

Are you a tenant in California looking for a rental increase in 2023? Plenty of renters across the state are concerned about higher living costs due to the economic recession and pandemic that is still affecting many people.

You may wonder how much your landlord will increase your rent in 2023. While the amount depends on several aspects, recent developments in the market suggest it could be higher than usual. As tenants, it’s vital to be aware of your rights and take steps to protect yourself from unjust rent increases.

All About Rent Increases in California for 2023

It is vital to be informed in the case of renting a property. This article will give an overview of California’s anticipated rental growth for 2023.

Market Developments?

The California rental properties market has seen dramatic changes in the past few years because of the COVID-19 pandemic. Many renters prefer renting instead of buying homes, resulting in a higher demand for rental properties.

Also, there are fewer locations to rent since landlords have to sell their homes or make short-term rentals. Because there aren’t as many rentals and many people want to rent them, the rental market is becoming more competitive, giving landlords more control over how they can charge. You can go here to learn more about property management and the services the firm has to offer.

Notice for Rent

Before a landlord can increase rent, they must provide their tenants with written notice of the increase they plan to make. The notice must state the increasing amount and when it will begin to take effect. The notice must be given within 30 days in advance for monthly tenants or 60 days prior for tenants with the more extended rental agreement.

If a tenant objects to an increase in rent, they have the right to talk to their landlord about the issue or complain to the local agency for rent control. If you want to have your real property rented, a highly-ranked property management service in Pacifica is always preferred to handle your relations. You can search the web for a reputable firm and inquire about their services.

Law on Rent Control

California adopted legislation in 2019 that restricts the amount of rent the government can assess. This rule says a top property management company in San Mateo can’t raise the rent by more than 5 percent plus the inflation rate (up to 10%) each year. As per this rule, landlords can only raise the rent once per year. This law only applies to homes 15 to older. It doesn’t apply to single-family homes, duplexes, condos, or condominiums.

2019 Tenant Protection Act

Tenants must be told in writing what their rights are and when they will be removed. If a tenant gets an order to leave and cannot, they may go to court and hire a lawyer to fight it. In addition, the law states that landlords cannot evict tenants without having a reason if they fail to pay rent, break the lease’s rules, or cause damage to the rental property.

Conclusion

Landlords must still abide by the laws and regulations of their state. They may only increase rent once yearly and must give you in writing at least 30 days in advance. If the increase appears unjustified and unreasonable, you may negotiate with the landlord or complain to the neighborhood rent management agency. Furthermore, The Tenant Protection Act of 2019 gives tenants additional protection, such as being able to contest an eviction notice in court.

As an owner, you should understand your rights as a tenant and remain current on the latest developments for rental properties. Doing this will protect you financially and assure you that you will pay the right price for the rental property you own.