01/19/2025
In addition to the price gouging on existing listings, I'm seeing bidding wars on rentals increase the prices by significant amounts.
California Atty. Gen. Rob Bonta on Saturday warned landlords that price-gouging rules in effect because of the Los Angeles County fires apply even in cases where bidding wars break out over their property.
"The bottom line is this: landlords cannot charge, or accept, rent that exceeds the 10 percent cap set by California’s price gouging statute, even if they find someone who is willing to pay it,” Bonta said in a statement. “Our legislature has enacted robust protections for renters during times of crisis, and I’m committed to ensuring that those protections are followed and respected.”
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