Rent Control in Temecula?
Filed under: Temecula Real Estate
Is rent control a thing in Temecula? This is a question that I hear a lot from my clients and friends. For those people who don’t know what rent control is – it is a government program that puts a ceiling on how much a property owner can increase the rent price when renewing a rental lease.
Assembly Bill 1482 Limits Rent Increases for Some Landlords
The short answer is that there is no city-wide rent control. But Assembly Bill 1482 outlines that “A landlord who is a corporation or LLC cannot raise rent more than 5% plus CPI, to a maximum of 10%.”
For example, they can raise 5% as a base. Then, if CPI is 3.8%, the they can raise it up to a total of 8.8% for that year. Now, I will say this: if it is a private person that owns the property, such as a husband and wife and they own one rental property, they are not under these regulations. They can raise rent as much as they would like – as much as the market will pay them.
Need Help Setting a Price for Your Rental Property?
If you have any specific questions about setting price points or increasing rent for your investment properties, then you can call or text me any time.
I’m also here to help you find the ideal rental properties if you are looking to get started as a landlord or add units to your portfolio.
Reach out to me when you are ready to have a conversation. Call, text, or email me at (951) 473-0390 or [email protected]