This IS a major issue in Urban Cities…..
This move by the City Council out there WILL also have influence on the Mamdani admin rent policy …..
Something Mamdani campaigned on for New York City’s younger voters who live in apartments ….
For the first time in decades, the Los Angeles city council overhauled its rent control rules on Wednesday, sharply lowering the annual rent increases facing tenants in one of the country’s most expensive cities.
The decision follows years of debate over how heavy a hand the city should have in regulating its sprawling rental market as living costs have soared and the gap between rich and poor has widened. It comes amid a national focus on affordability punctuated by New York City Mayor-elect Zohran Mamdani, who won a decisive victory last week after running an outsider campaign centered on a promise to “freeze the rent” for that city’s tenants.
“What we have before us right now is an opportunity to make L.A. more affordable,” said City Councilmember Nithya Raman, who championed the measure, at a rousing press conference with tenant activists before the vote. “Because when people can afford to stay in Los Angeles this entire city thrives.”
The action marks another significant victory for tenant organizers and their allies on the city council who in recent years have substantially boosted protections for renters, including greater restrictions against evictions, taxpayer-funded legal support and additional leeway to repay overdue rent. Under the new rules, Los Angeles landlords whose buildings are covered by the city’s rent stabilization laws — about three-quarters of the market — will be allowed to increase rents by between just 1% and 4% each year, depending on inflation. Currently, landlords are allowed to increase rent between 3% and 8% annually.
Los Angeles Mayor Karen Bass applauded the council’s action, saying that it’s part of her broader focus on making it easier to live in the city.
“We will help Angelenos afford their housing, prevent people from falling into homelessness and restrict skyrocketing rents,” Bass said in a statement…..
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