Los Angeles Mayor Karen Bass signed an updated rent stabilization ordinance Tuesday that caps annual rent increases between 1% and 4%, and removes additional utility charges for apartments built on or before Oct. 1, 1978.
During a morning news conference in South LA, Bass signed the new regulations for RSO buildings, authorizing the first major overhaul to the rent control law in more than four decades. Her action finalizes work completed by the City Council to enact such changes in recent months.
The law is expected to take effect late next month…