In advance of rent cap, tenants receiving move-out notices

In advance of rent cap, tenants receiving move-out notices

AB 1482, a law capping rent increases at 5 percent plus inflation, goes into effect on January 1, 2020. Anticipating this, the opportunity to issue 60-day “notices to vacate” began going out to many California renters on October 31. That day was the last day landlords could issue such notice and take advantage of a loophole in the new law which states that if tenants move out before the end of the year, landlords can raise the rent as much as they want before a new renter moves in.
While data recording precisely how many of these notices have gone out isn’t available, tenant rights group, Tenants Together, reported an increase as much as 30 percent since last summer when the law was still under consideration by the state legislature.
Some California cities are now considering an emergency ban on such pre-emptive evictions.
Today, conforming no-point 30-year fixed mortgage rates are averaging 3.75 percent and 15-year rates are near 3.125 percent.
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