Rent control has arrived for the City of Sacramento as well as the entire state of California.
Whether you are a landlord or a Realtor, these laws will affect how you do business.
View the full text of the laws below.
Sign up for our RentPros Bulletin!
Schedule Chris to speak to your group
The following are excerpts from AB 1482, please do your due diligence to ensure you are providing the correct disclosure by reviewing the bill in its entirety and consult a real estate attorney as needed.
AB 1482 Notice of Exemption
“This property is not subject to the rent limits imposed by Section 1947.12 of the Civil Code and is not subject to the just cause requirements of Section 1946.2 of the Civil Code. This property meets the requirements of Sections 1947.12 (d)(5) and 1946.2 (e)(8) of the Civil Code and the owner is not any of the following: (1) a real estate investment trust, as defined by Section 856 of the Internal Revenue Code; (2) a corporation; or (3) a limited liability company in which at least one member is a corporation.”
When is this required to be provided?
(1) For a tenancy existing before July 1, 2020, the notice required under clause (i) may, but is not required to, be provided in the rental agreement.
(2) For any tenancy commenced or renewed on or after July 1, 2020, the notice required under clause (i) must be provided in the rental agreement.
AB 1482 Notice of non-exempt clause:
An owner of residential real property subject to this section shall provide notice to the tenant as follows:
(1) For any tenancy commenced or renewed on or after July 1, 2020, as an addendum to the lease or rental agreement, or as a written notice signed by the tenant, with a copy provided to the tenant.
(2) For a tenancy existing prior to July 1, 2020, by written notice to the tenant no later than August 1, 2020, or as an addendum to the lease or rental agreement.
(3) The notification or lease provision shall be in no less than 12-point type, and shall include the following:
“California law limits the amount your rent can be increased. See Section 1947.12 of the Civil Code for more information. California law also provides that after all of the tenants have continuously and lawfully occupied the property for 12 months or more or at least one of the tenants has continuously and lawfully occupied the property for 24 months or more, a landlord must provide a statement of cause in any notice to terminate a tenancy. See Section 1946.2 of the Civil Code for more information.”
Call Us Today:
Copyright 2020, RentPros, All Rights Reserved.