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Someone told me that this is a new law since last year. So has anyone been seeing that your landlord/leasing office abides by this?
I know my complex never asks me about my emplyment status. They only knew what my job & salary was right before I first moved in when I was filling out the rental application.
So, how does this work exactly because we all know apts will raise as they please.
What a wacko idea. No you do not get rent control based upon your income. If the rent goes higher than your income, you will have to move to a cheaper place.
It's California, so it is possible that rents can only be raised 5% each year. You would have to verify that, I'm not going t bother, but it for sure isn't going to adjust everyone's rent to suit your income level.
What a wacko idea. No you do not get rent control based upon your income. If the rent goes higher than your income, you will have to move to a cheaper place.
It's California, so it is possible that rents can only be raised 5% each year. You would have to verify that, I'm not going t bother, but it for sure isn't going to adjust everyone's rent to suit your income level.
I agree that complexes sure aren't going to ask all their hundreds, etc. of renters if they still work at the same place, what's their income now, etc. They're not going to bother w/ that mess.
I was telling the person who told me this that all apts care about is that you can either afford it or not & if not, you move out.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Originally Posted by Forever Blue
I agree that complexes sure aren't going to ask all their hundreds, etc. of renters if they still work at the same place, what's their income now, etc. They're not going to bother w/ that mess.
I was telling the person who told me this that all apts care about is that you can either afford it or not & if not, you move out.
Yes, and no way would anyone rent to someone whose income was the same or less than the rent. Most will only rent to you if the rent is 1/3 of your income or less.
Well, you'd have to specify, exactly, which county and city you're talking about, then go search the laws and ordinances of those municipalities. State law, too, though I think the chance of any law at the state level restricting rent increases would be 0.000000000%.
Was this "someone" an attorney experienced in rental laws, or a legislator who's a member of the body claimed to have passed such a law? Or just some random person with zero actual knowledge?
I believe they enacted a law that rent can't rise more than 5% ABOVE the rate of inflation, but that's purely from memory.
Who is "they?"
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