City Officials Are Weighing Proposals to Limit Annual Rent Hikes to 5% or Less
After four decades with little change, Los Angeles is moving to rewrite the formula that dictates how much most landlords can raise rents, a shift that could narrow annual increases for hundreds of thousands of tenants.
This week, the City Council’s Housing and Homelessness Committee opened deliberations on updating the rent-adjustment formula that has been largely untouched since 1985. Under current rules, landlords may raise rents by as much as 10% in a given year, depending on inflation and whether the owner pays for a tenant’s gas and electricity. Rents can climb higher in certain situations, including when additional occupants join a household…