Under the Los Angeles Rent Stabilization Ordinance, landlords can only raise rents in accordance with the Consumer Price Index for most apartments built before 1978. During recent times, the annual increase has been capped at three percent. Beginning in July, landlords can raise rents by four percent. The higher index leading to the increased cap is likely due to lower unemployment and other strong economic indicators in the area. With rents on the rise, even a one percent rent hike adds pressure on tenants struggling with affordability. As of now, Santa Monica and West Hollywood have not approved similar annual increase hikes.

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Compass is a licensed real estate broker (01991628) in the State of California and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.