California landlords can only charge one month's rent security deposit starting July 1
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- Опубліковано 3 сер 2024
- Already existing rental agreements won't be impacted by the new law, but tenants rights advocates say this will help increase access to housing in San Diego.
I knew a friend of mind with good credit and made 6500 a month living her car still couldn't get a place bc of all the extra deposit they wanted from her. I let her stay with me for 2 months until someone gave her a fair opportunity.
May God bless you my brother
It's insane
Sounds like she needs to move to another region.
Yea for some reason getting that large sum of cash is hard even when you make good money. It’s rough in these streets.
>Be woman
>Make $80,000/year
>Rack up so much debt that you can't even save up a few grand for a security depoist
>Simp bails you out
>Simp doesn't get laid
a lot of apts want you to make three times the rent. Which disqualifies a lot of people from getting the apt.
It’s a lot to ask for. $2000 unit you need to make $6k a month. Many ppl don’t get paid that much.
The government should not place the burden on landlords. The government should provide housing for low income tenants.
They already do. It's called Section 8.
Yeah, but it has to be done another way. The high rise projects, turned into a hot bed of crime.
Landlords and property managers want to punish everyone for the few that they have problems with...they pull your credit report and rental history...if you have been a good Tennant you shouldn't be drained of cash by a security deposit
If the government made it easier for landlords to get paid by bad renters who cause damage then they would need a high security deposit. But they don’t.
Who does this law help? One needs to make 3X the rent to rent anything. A one bedroom is $2,000 per month which means you need to make at least $6,000 per month just to pay the rent. People need rental assistance and they should qualify even if they lost their job. Too busy helping illegals.
You feel better now that you have that out of your system?
"Welfare for me not for thee!"
@@pearlsswine Exactly! Since I pay taxes. I am entitled to it. Illegals did not pay taxes and shouldn't be entitled to it.
Charging 2 or 3 times the rent is insane...
Not really, say you have some guy with a good career who makes decent money but has horrible credit. You would need something to make taking that person on worth the risk.
Remember California has horrible rental laws if you're a landlord and the time and costs to evict someone are quite high.
@@bsgvlog5640 greed.
If people didn’t trash the place when they left then this wouldn’t be required.
How much auto insurance do you pay for people who drive without insurance??!!!
@@LWRC a lot. It’s all calculated in our premiums depending on where we live. The irresponsible people ruin it for the rest of us.
Gah, another super stupid law that will do the exact opposite of what the housing advocates hope.
Extra rental deposits give landlords additional options to offset rental risks.
Limiting the deposit to one month will DECREASE total access to rentals as landlords must get super selective with tenants to tolerate having only one month deposit to cover risk. The reporting about landlords pulling units off market is totally correct. Some will definitely do that while other landlords hold off on selecting a tenant.
Only the highest quality tenants will benefit as they can get into the best units and only have to pay one month deposit. Any tenants with any credit issues, like missed student loan payments, with credit scores under 640, will get royally screwed.
They will start charging higher rent
Exactly…
A LOT HIGHER
and it'll get to the point they won't have renters. It'll change their minds.
Govt will be forced to subsidize renters when this is a national homeless problem. Govt created this mess by allowing banks to securitize homes as investments with cheap borrowed capital from the Fed and govt pushing fed backed loans.
Good idea
Finally, a law I can agree with Sacramento for once. I hate rent control because you distort prices upward for people who shouldn’t live there to “afford” to live in an expensive area. In my view a security deposit is unreasonable. Price that into rent. Because that is a cost of doing business, it is insurance for the landlord. It is an oxymoron. It is not a secure deposit for consumers. I am all for voluntary exchanges between people, that is why I don’t like government meddling with rent (ask) price controls; which should be enough of a barrier for housing. I do not think it is fair to charge for applications ( to be considered ) or security deposits to be prevented from affording to pay the first month of rent.
Property damage ( bill or take to court )
Unpaid rent (bill or take to court)
Why do I need to subsidize people who don’t pay rent or damage others property? Get insurance.
There is no such thing as a free lunch but don’t price irresponsible people into a price as a business model.
That is unsustainable.
Act responsibly by keeping clean and paying your rent guys.
I agree. Rent control makes the problem worse over the long run. NYC has had rent control for decades and look how expensive it is.
Totally agree !!!
It's not a subsidy. That money is returned at the end of the lease term if all goes well.
You are talking a lot of nonsense as you have no clue ! Yes, rent control and any government intervention is bad but to say bill the tenants or take to court is insane!
@@ucsbgirlie18Complain to your government since they created this mess.
This will create higher rent rates to make up for a deposit that is essentially meant for repairs that the renter is going to make
The deposit is meant for repairs that the renter is going to make? Sounds like you are having a brain aneurysm.
These are the same people that voted for higher minimum wage then was surprised when all those people got fired.
@HeyUncleA definitely a lose lose situation
NYC did something a bit similar and all the landlords are doing is offering 3 months free rent but jacking the shit out of the rent.
What the ell they would repair every 3 mouths 😊
Good move! We are to crowded so move away ! Immigrate to another Country!
Then go ahead, move to a different country.
@@violetenergy4392 no, im A NATIVE BORN!
THE ILLEGALS GET DEPORTED AFTER WORK CAMPS TO PAY BACK AMERICAN CITIZENS
DEMOCRATS GET GITMO WITH A DEATHPENALTY!😊
That’s what renters insurance is for. To cover damage more than the deposit or accidental damage that the renter did. Landlords can always make that a requirement.
Renter's insurance typically only covers personal property of the tenant. If it is nailed, glued, or bolted down (part of the house), it is a hazard/homeowner's insurance thing.
@@user-dw1ls3rp1lnot true. It covers the renter. If the damage is done by the renter it will cover the damage. If the damage is done by no fault of the renter then it would be claimed by homeowner insurance. Example, natural disasters, or damage to the building from a robbery. Renters insurance will cover the renters belongings but home owner will be responsible for the building because it was at no fault to the renter.
Who the hell wants to send money to Ukraine and isreal
C'mon man...no joke....Joe farts cure cancer 😂
A consortium of Jewish men
So now people are gonna get evicted more and more.
Homeowners imsurance is outrageously expensive because Alot of imsurance companies left californis driving the price of homeowners insurance sky high. 😮
Landlords are crying about nothing.. charging 3X the rent is crazy.. it’s disgusting.. not hearing non of it. Cry me a river..
greed.
And more will be after this law
And now to compensate for their loss they'll raise the rents. I love that.
Lol I bet you voted to increase min wage in California to $20/hr and act surprised when layoffs happen on top of cost of living hikes again.
These are the same people that voted for higher minimum wage then was surprised when all those people got fired.
Rent in San Bernardino county for a 4 bed is 3,800....
They can charge one month rent for deposit so they will just jack up the rent to cover potential damage. The difference is the deposit is a one time pay while that higher rent will be each and every month for a long time.
Either leave the market alone or make it, completely, a command economy! All of these half measures, only makes things worse.
If they make evicting easier and quicker for “non-payment” of rent in California, you may have more landlords willing lower deposit or take chances with tenants. Seriously, who would want to take a chance knowing that State, you can have a tenant squat at your property for months and you as the landlord may still have to pay them to move out? 3-6 months to evict means 3-6 months of free rent.
Smart money says rent goes up.
Thank God 🙏
Don’t rent out your house. If you lucky enough some renter don’t payment and that’s go another years for court for eviction. And you will the house due to no income for mortgage.
It will be much harder for marginal applicants to find a landlord who will take a chance on them now. With the covid eviction moratorium one bad tenant could cost them $50,000-$100,000. Lawmaker in some jurisdictions are limiting access to information about an applicant's past that would help them separate the bad risks out of the pool.
Yep, this law will hurt the most vulnerable tenants.
Indeed. Now you're going to have to be rich to rent non governmental housing!
@@EarlPilleras it should be!
Good. The upfront deposit to rent a place should be capped. Home owner here.
Now we are gonna see monthly rents sky rocket and they will offer you 3 months free so they can get a higher Security deposit and make the same amount.
Why wasn’t this always the law
Due to Americans beginning to screw over the landlord after economic downturn(s).
Correct if im wrong but "small landlords" are exempt from this law.
Leach renters.. one month rent can’t even fix your toilet. If you can’t afford, move to Fontana.
Ok bot
Excellent.
Good law..
Here is the question.
why are yall still paying these high as rents when you can go buy a house..??
Really if you got 3 months rents in this area as a security deposit , let say average rent is $3000 a month, security deposit of 3 months would be $9000.
You can take that buy some land desert
But a tiny 1 bedroom house
and still have money left over with no mortgage , debt and now more land to build up..
I just do not get why so many people are fighting to stay renter in So Cal.. I bough my home in the mountains and I only been here 10 years..
Just do not understand the logic..
Agree with you. People are spoiled by all the convenience in the city: restaurants, job opportunities, schools for their kids to name a few.
Lolololol "just go out to the middle of the desert and build a shack, bro!".
Jesus Christ.
sell all of your california properties and LEAVE!!!
I have yet to have a landlord give me all of my security deposit when I move out. The things they makeup to keep it is outright criminal.
That's insane!
Rents are so high nationwide, that’s why there’s so many homeless people in the streets, we need more pallets tiny houses for homeless nationwide, rents for houses and for apartments need to lower the price down or homeless crisis will continue in our streets nationwide
America has an addiction problem not an affordability problem!
But also fix the squatters issue
Yup, squatters are thieves period.
Squatting is illegal in San Diego.
Then don't rent in high cost properties with large sqft and maintenance requirements.
Those properties have immense property tax values on top of the HOA fees. Are most renters stupid?
Just pick section 8 properties if you are complaining about it. This is about as bad as people voting for a min wage increase to $20/hr in California and not expect cost of living to increase proportionally ffs. You people don't know basic supply and demand.
Yup, again, most people have a literal lack of ability to understand cause and effect.
I was always against the increase of minimum wage.
I remember back when I was 17 years old, I was paid $9.50 an hour.
Now at 29 years old, I'm paid $22.08 an hour.
I have not seen an increase in the quality of my life and if I take the time to analyze my finances, there hasn't been a difference other than the fact I'm making $5 more than the standard of $17.50
Quality of living should matter, not how much you make an hour...
This is a good start
Zillow is garbage
This is absolutely insane!! Homeowners should be able to charge first, last and security deposit. And if they have excess people in the rental you should charge more. And I hope landlords make it so 750 credit score minimum. And nobody, absolutely nobody should sign more than 6 months or year max. I have personally observed how people game the system, they stop paying and stay in the property, know all the ins and outs of legal system..If someone is a day late, have to immediately start eviction process, not being able to charge, first, last and security, pet deposits takes away majority of flexibility for owners.
You just admitted good tennants are paying for a landlord's poor judgement. You admitting that people who game the system is the reasom why a deposit is restricted. There are other ways to go about bad tennants and blame CA for not doing a better job with evictions. That has nothing to do with why the rest of us who aren't a problem are paying to get anal probbed, disqualified, and pay a "deposit" that doesn't deter aholes.
Good luck finding renters
beyt u cra.
Ok so if its too expensive to live there then move!
What’s wrong with that? It’s a reasonable amount, especially because rent is waaay more than the actual worth if these sht box apartments.
What’s wrong with protecting renters from losing half a year salary when we all know renters NEVER return the deposit?
All this does is raise the rents yet again to compensate, and also it lowers the quality of home finishes the landlords are willing to provide, since they might need to be replaced.
You are right
So now the government is deciding what happens in the free market. Of course it's in California. You want rights to that house? BUY IT!
Yeah I don’t feel bad for these landlords
That’s not very fair towards landlords though. Come on. What if they damage property worth more than the deposit
Smh
Finally, a law I can agree with Sacramento for once. I hate rent control because you distort prices upward for people who shouldn’t live there to “afford” to live in an expensive area. In my view a security deposit is unreasonable. Price that into rent. Because that is a cost of doing business, it is insurance for the landlord. It is an oxymoron. It is not a secure deposit for consumers. I am all for voluntary exchanges between people, that is why I don’t like government meddling with rent (ask) price controls; which should be enough of a barrier for housing. I do not think it is fair to charge for applications ( to be considered ) or security deposits to be prevented from affording to pay the first month of rent.
Then take the offending renter to court for damages. Even Small Claims Court allows awards of up to $12.5k.
The landlords are punishing good renters by overcharging them on the security deposit...besides its discrimating against people who can afford the rent but don't have alot of cash to put down. They already pull credit reports and rental history on people
I’m sure they’ll survive.
@@kenc2257 that’s the problem , if they can’t afford a down payment how is a landlord going to squeeze anything out of them?
It’s not just; own a house, collect money & ride off into the sunset, there’s other expenses too besides the possibility of a tenant damaging a property.
Ok then i can throw you out after not paying 1 months rent
Amos 5:11
11) You trample the poor, stealing their grain through taxes and unfair rent. Therefore, though you build beautiful stone houses, you will never live in them. Though you plant lush vineyards, you will never drink wine from them.
man if you think property taxes are bad anywhere in cali wait until you try cook county lmfao. Their property taxes quite literally quadrupled in a few years forcing many to leave and fun fact they can't even sell because no buyer would look at those property taxes (which is more expensive than rent in that county) and say "o wow thats a good investment"
Who the hell wants to tie up 5-8plus k for years? Unless they are making interest, this is a decent law. The same apartments and condos would go for 1200- 1600 a few years ago are now 3k plus? It’s BS. SD isn’t that special. In fact, this is becoming unlivable w the influx of rude-ass newcomers who have no stake in the game. And their stupid dogs.
👍🏽👍🏽🥰🥰
Not fair at all!
Avoid Homelessness? 😂😂😂😂
Yeah ......sure...... Whatever!
Why does anyone live there? 😂
Im chilling in Louisiana for like 400 month
You're proud of the fact that you managed to live off mediocre income in the middle of nowhere in some God Forsaken state?
How about this: make something of your life so that you can eventually afford to live anywhere you want.
But nah, you just move to wherever your peanuts will be accepted.
Great! Lets make it easier for squatters!
I hate landlords with a burning passion
Cool. Buy your own place.
In Cuba, housing g is free. Go there
Same.
Good for you
I bet you’ve been a nuisance wherever you have rented. I bet every landlord has hated you.
Landlords /property owners should not price gouge their tenants. Unless you own the building free and clear, new taxes and rising insurance rates are going to kill you if you choose to be super picky about your tenants. You should go off of rental history and the ability to pay "fair rent", not what the market dictates. Credit score should not be a factor, especially after the pandemic.
I bet the landlords make interest off those security deposits, bunch of thieves.
@@Manskilz I’m not talking about rent money, I’m talking about the interest they make off of ‘security deposits’.
Don’t expect me to shed tears because greedy landlords have to pay tax on capital gains.
Nope. Just running a business.
@@steve2468 A very exploitative one based on usury, but whatever helps you sleep at night I guess.
I am so tired of california butting into our business! Stay the f out!