A real estate agent in La Cañada is the first person to be charged with price gouging after the Los Angeles fires.
California Atty. Gen. Rob Bonta announced charges against a La Cañada Flintridge real estate agent for allegedly raising the price of his rental by 38% after L.A.'s wildfires.
Attorney General Rob Bonta said he would go after alleged rent gougers, and this week his office filed its first case. The agent strongly denies breaking the law.
During a state of emergency, most landlords can only raise rents by 10%. Members of the LA Tenants Union have compiled a spreadsheet of well over 1,000 listings they say exceed the 10% threshold. Irani said for her, it was a way to help fire victims.
Tenant advocacy groups, landlord associations and elected officials are condemning rent gouging after tens of thousands of people were displaced in deadly fires this month.
Fires in Los Angeles have destroyed thousands of homes, leaving families scrambling for long-term shelter in the face of uncertainty. Real estate listing websites such as Zillow have shown many properties taken off the market during the fires, only to be put back on the market for thousands more than they were originally listed for.
Los Angeles Magazine on MSN5h
Price Gouging Hits L.A.'s Fire Evacuees
As wildfires leave residents displaced across the city, some landlords are raising rents beyond legal limits, forcing evacuees into an increasingly unforgiving housing market.
City officials are ramping up efforts to curb rent gouging following devastating firestorms that destroyed over 12000 homes displacing tens of thousands
A law barring monthly rents of more than $10,000 for new listings is stopping high-end homes from going on the market, real estate agents and brokers say. Such homes could be in demand for wealthy fire victims.
Newsweek found properties that jacked up their prices during the California wildfires raising concerns of potential price gouging.
Rent for single-family homes across Los Angeles County rose by almost 25 percent, and even more in certain areas, according to a Washington Post analysis.
The emergency law caps rents to a ‘fair market value’ determined by HUD, but the caps are so low that many high-end homeowners are delaying putting