Not good news, but great news for Tenants with a solid job and 750+ credit score. This will make it harder for people who have had credit problems because of medical issues, loosing a job, divorce ... to rent. Landlords will no longer be able to say, "well i'll give you a chance if you can put down a bigger deposit." Also it will make it harder for tenants who cannot show stable income: maids, gardners, contractors ... Why should anyone believe this they can make rent. This will increase Homelessness. This is simply bad public policy. It disproportionately hurts lower income folks, while making apartments more available to more wealthy tenants.
Right, it's just more feel-good California nonsense. Why would any landlord or property manager rent to *any* prospective tenant without a stellar credit history and proof of income well in excess of monthly rent.
I’ve been living in Canada for years and always paid 1 months rent as a security deposit, even when I was a student with no income of my own. Canada has significantly less homelessness than California and the USA as a whole. Landlords are greedy leeches on society, they will take money wherever they can find it. Just got a bit more risk for them now 🤷🏾♂️.
Bad news. My credit and rental history is shot. Double deposits helped me get past those. Now I’m stuck living at a hotel for 30 percent more than an apartment, with no end in sight.
This does absolutely nothing for prospective tenants. Years ago a deposit was under $600 for a one-bedroom. Perks? You consider a parking spot a perk? Where am I supposed to park my car? In the air?
Hahaha this law just made it even more difficult for people to get housing especially those who are young with low credit scores
1 month rent is not even enough to cover cleaning fees after a 1 year plus renter departs. no wonder no one wants to be a landlord
Oh no! Whatever will we do without Landlords!
My last tenet walked away owing 4k and did 10k in damage. F Sacramento politicians.
Not good news, but great news for Tenants with a solid job and 750+ credit score. This will make it harder for people who have had credit problems because of medical issues, loosing a job, divorce ... to rent. Landlords will no longer be able to say, "well i'll give you a chance if you can put down a bigger deposit." Also it will make it harder for tenants who cannot show stable income: maids, gardners, contractors ... Why should anyone believe this they can make rent. This will increase Homelessness. This is simply bad public policy. It disproportionately hurts lower income folks, while making apartments more available to more wealthy tenants.
Right, it's just more feel-good California nonsense. Why would any landlord or property manager rent to *any* prospective tenant without a stellar credit history and proof of income well in excess of monthly rent.
That's what I am saying
I’ve been living in Canada for years and always paid 1 months rent as a security deposit, even when I was a student with no income of my own. Canada has significantly less homelessness than California and the USA as a whole.
Landlords are greedy leeches on society, they will take money wherever they can find it. Just got a bit more risk for them now 🤷🏾♂️.
It actually causes more disparity though they say they promote equity.
Bad news. My credit and rental history is shot. Double deposits helped me get past those. Now I’m stuck living at a hotel for 30 percent more than an apartment, with no end in sight.
This does absolutely nothing for prospective tenants. Years ago a deposit was under $600 for a one-bedroom. Perks? You consider a parking spot a perk? Where am I supposed to park my car? In the air?
No problem, just increase credit score requirement.
What if as a landlord I double my rent and give a 50% discount for the time of the contract, but no discount on the deposit? Would that be legal?
California has soooo many good ideas. ;)
Landlords: the people who have no problem with 2x or 3x rent increases during a global pandemic. They got no sympathy coming.
Ricardo J.P. Milky Way (Bonus Track)support this track please 😁
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Tax empty apartments