In 2024, Rent Control Regulations Will Come Into Effect:

In 2024, the following five pivotal rent control regulations will come into effect: Security Deposits: The obligation for tenants to pay a two-month rent security deposit is being replaced by a new law that restricts landlords to charging only a single month's rent. Evictions Based on Alleged Criminal Activity: Tenants can no longer be evicted solely on grounds such as calls to law enforcement, suspected criminal actions, or alleged nuisance activity. No-Fault Just Cause Evictions: The no-fault just cause eviction policy is tightening for landlords. Previously, landlords could evict tenants if they or their family members wished to move in. The amended law now requires the family to relocate within 90 days of the tenant's departure and reside there for a minimum of 12 months. E-scooters and Bikes: Tenants now have the option to charge electric scooters and electric bikes in their apartments, provided the batteries meet specified safety standards. Compliance with the Informational Bulletin issued by the Office of the State Fire Marshal is mandatory, and leases should include guidance on lithium-ion battery safety. Affordable Housing: This law removes restrictions on churches, religious organizations, and non-profit colleges, allowing them to construct affordable housing on their properties. In addition to these five regulations, Governor Newsom is currently reviewing several new laws, rules, and modifications. Further updates will be shared as they become available.

#hanovermc #rentcontrol #affordablehousing #loanofficer #privatemoney #hardmoney #mortgagebroker #mortgagebanker #mortgagelending #realtor #housing