Act By July 1 to Keep Your Rental Property Exempt from the Tenant Protection Act!
On January 1, 2020, Assembly Bill 1482, the Tenant Protection Act of 2019, took effect. The goal of the bill is to help address California’s high cost of living and housing affordability issues. Assembly Bill 1482 caps annual rent increases throughout the state at 5%, plus the increase in the regional CPI. The bill also requires landlords to show a “just cause” to evict tenants who have been in place for 12 months or more. The Tenant Protection Act sunsets on January 1, 2030, and not every rental property in the state is included. To ensure your rental unit is exempt if it meets certain criteria, you’ll need to act soon. Following are the types of rental properties that are not included: – Single family homes built on their own lot and condominiums, if you as the landlord are a “small property owner “ – not a corporation, a…Read More→