Irvine, CA · Member since 2016 · 545 posts · 614 votes
Last night the Mayor signed new Renters protections that the LA City Council passed. This will now allow LA renters up to 12 months to settle back rent for Residential tenants, and 3 months for Commercial tenants, before a landlord can take ANY action.
Does anyone have the fine print on this new Renters protection? All I see is it says residential renters have 12 months to catch-up or "Settle" on ANY missed rent.
Does that mean they can go without paying a single dollar over the next 12 months before a landlord can take any action?
I guess if a tenant decides to pay One dollar ($1) a month for the next 12 months, the landlord gets to collect a whole $12 for the year of income.
LA is out of control with the backlash against landlords.
Rental Property Investor · Manitowoc, WI · Member since 2016 · 178 posts · 186 votes
6y
Just based on how your post is worded, I read it as any rent that goes unpaid due to the current circumstances can be paid at any time over the following 12 months. If we assume rent is deferred for 90 days due to current circumstances, that would mean regular monthly payments would be due after those 90 days as well as tenants needing to work with landlords to determine how the 3 deferred payments will be made over 12 months.
Not in your market and just speculating based on your post.
Irvine, CA · Member since 2016 · 545 posts · 614 votes
6y
@Brad L I went to the Mayors website to look at the details of the issue. It says the new measure gives residential tenants 12 months following the "expiration" of the local emergency period to repay any missed rent.
What I got from that is
1) A tenant can go without paying rent during the "Emergency Period"
2) Los Angeles will announce when the emergency period ends, and the 12 month clock will start at that point.
3) The landlord cannot take any action against a tenant until after the 12 month period, should they not make up the unpaid rent that occurred during the defined emergency period.
Now I get what you are saying, If this emergency period goes for 3 months, lets say until June, At month 4 (July), the tenant begins paying rent in July for the month of July, then the tenant has up to 12 months to repay the missed 3 months of rent (Apr. May, Jun).
That makes much more sense. The local news outlets this morning were spreading some tenant friendly propaganda. Making it sound like due to COVID-19, tenants will have up to 12 months to catch-up "ANY" missed rent payments.
This isn't as bad as what the media was making it out to be.
LakeWood , CA · Member since 2018 · 268 posts · 331 votes
6y
@Ray Johnson May 31 is when all this will be up for debate. That’s when the government backs off and let’s tenants and landlords come up with some sort of agreement on how to pay back rent. June 1st from my understanding needs to be paid in full if not we can file for eviction if we haven’t received anything. The rules DO NOT SAY TENANTS LIVE RENT FREE FOR 12MONTHS.