California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Inglewood’s Apartments Now Under Rent Control
Connect Los Angeles is set for March 21st at the Hotel Indigo Downtown Los Angeles. You can get more information and register on this link.
The Inglewood City Council passed a temporary rent control ordinance this week that limits rent increases to no more than 5% per year. The law would only apply to apartment buildings and other rental units built before 1995 and exempts single-family homes and condominiums.
Inglewood Mayor James Butts says the ordinance is just a 45-day stopgap measure to give the council time to weigh potential long-term rent control solutions. The council also has an option to extend the law, as a longer-term rent control measure is considered.
The city has experienced a revitalization since it was selected as the home for the new $5-billion Los Angeles Rams Stadium and Entertainment District (pictured) now under construction and expected to open in 2020. Many Inglewood residents view the development as the catalyst for rising property values and rental costs in the city. Yet, as a result, they say, apartment rents are increasingly unaffordable for longtime residents.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Lease




