Los Angeles Rental Market
It’s aimed at helping renters in a one-mile radius around new residential buildings.
The program is temporary and open to qualifying renters.
That will drive up the average annual cost of rent to $2,369, according to a new report.
"We simply can’t allow massive rent increases and unjust evictions to happen anymore," councilmember says.
Residents who earn between $56,760 and $85,140 don’t have a lot of options, says City Councilmember David Ryu.
Tenancy in common is a new path to homeownership in LA.
But permit data shows a development slump may be on the way.
Assembly Bill 1482 would cap rent hikes at buildings that are not already covered by LA rent control.
The penthouses are emblematic of Hollywood’s "renaissance"—and they highlight the extremes in LA’s housing market.
Other big cities are pricier, but LA residents earn less.
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Apartment List finds nearly 17 percent of outbound searches are in Phoenix, where a one-bedroom rents for $870.
Residents have pushed for renter protections amid a development boom: "We can’t resurrect as a city if everyone is relocated."
Landlords, he says, are keeping "housing units empty while tens of thousands of Angelenos are forced to live on the streets because of the high cost of housing."
Tenants who move out to avoid big rent hikes will get as much as $4,500.
Expert advice on how to deal with slow repairs, bad landlords, and weird move-out notices.
The amount that lower-income residents spend on housing is climbing, but it’s dipping for upper income earners.
"Some people have called this tenant welfare... I would call this relief and improvement of quality of life," councilmember says.
A new report looks at how pricy rents are compared to typical incomes.
"I’m not going to be able to pay," says one Chinatown tenant, whose rent is about to triple.
That’s the highest level in a decade.
The number of renters with salaries that top $100,000 has swelled 33 percent.
Most affordable apartments are only guaranteed to stay that way for a few decades.
It’s not rent control, but it’s similar.
Prices are still higher than they were a year ago, but not by much.
"What we find is depressing," the report’s authors say.
"Only rent control will provide a near-term solution" to the state’s affordable housing crisis, the authors say.