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San Diego Freeway running through the west side of Los Angeles. Photo by Shutterstock.

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SACRAMENTO—California is among the growing number of states and cites that are taking legal steps to limit apartment rent increases. On Friday afternoon, Gov. Gavin Newsom, Senate President pro Tempore Toni Atkins, Assembly Speaker Anthony Rendon and Assemblymember David Chiu announced that they had come to an agreement on a series of amendments to Assembly Bill 1482 that would create strong renter protections. “The bill will protect millions of renters from rent-gouging and evictions and build on the Legislature’s work this year to address our broader housing crisis,” they said in a prepared statement.

Few other details were included in the announcement but local media did dig up additional information. The Mercury News reported that the deal caps annual rent increases at 5%, plus inflation, with a maximum of 10% per year.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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