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Crisis for Landlords? California's AB12 Bans Security Deposits As We Know Them
Manage episode 408013586 series 3019135
Peter McKenzie द्वारा प्रदान की गई सामग्री. एपिसोड, ग्राफिक्स और पॉडकास्ट विवरण सहित सभी पॉडकास्ट सामग्री Peter McKenzie या उनके पॉडकास्ट प्लेटफ़ॉर्म पार्टनर द्वारा सीधे अपलोड और प्रदान की जाती है। यदि आपको लगता है कि कोई आपकी अनुमति के बिना आपके कॉपीराइट किए गए कार्य का उपयोग कर रहा है, तो आप यहां बताई गई प्रक्रिया का पालन कर सकते हैं https://hi.player.fm/legal।
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Summary
In this episode, Peter talks about a new law affecting every landlord in California. From January 1st, 2024, Assembly Bill 12 changes how much can be charged for security deposits. Before, landlords could ask for up to two months' rent for unfurnished properties and three for furnished ones. Now, they're limited to just one month. Peter is worried this might make it tough to rent to tenants who don't have the best background and could mean stricter rental application rules. Finally, he highlights the need for landlords to keep up with changes in the law to avoid problems and protect their businesses.
Takeaways
- Assembly Bill 12 limits security deposits to one month's rent starting January 1st, 2024.
- Staying updated on rental laws is crucial for landlords to avoid legal issues and safeguard their interests.
- Despite the new limit, landlords can still seek payment for damages that exceed one month's rent.
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