The legal landscape for property owners is ever-changing, and 2024 brings several updates that landlords in California need to know. Staying informed is key to protecting your investments and maintaining compliance.
New Laws and Their Impact
1. AB 12: Rent Cap Adjustments
Rent increases are now limited to 5% annually or CPI (whichever is lower). This impacts how owners manage profitability, especially in high-demand areas.
2. Eviction Protections
Stricter regulations around evictions continue to evolve. Owners must ensure they follow just-cause requirements and provide proper documentation.
3. Increased Tenant Rights
Legislation now requires landlords to disclose additional information during lease agreements, such as pest reports or past property damage.
Why Compliance Matters
Failing to comply with new laws can result in hefty fines and lawsuits. Ignorance is not an excuse, and legal battles can damage your reputation and profits.
36 North’s Expertise in Navigating Legal Changes
We keep up with every change in the legal environment, ensuring our clients remain compliant. From lease updates to tenant notices, we handle the details, so you don’t have to.