Rents in Los Angeles have been sky-high for years, but it will soon be more difficult to increase them in the City of Angels.
Beginning in February, landlords of most multifamily apartments in the area will be limited to annual rent increases of 1% to 4%, based on local inflation—down from the long-standing 3% to 8% cap in place for the last 40 years.
“The measure may provide some relief to renters who want to stay in place without their rent being hiked up,” says Joel Berner, senior economist at Realtor.com®…