Landlords in fire-stricken Los Angeles are jacking rents in violation of California law as thousands of residents seek shelter due to multiple fires burning in the area.
A search of local listings by several outlets reveal several landlords who have raised prices by as much as 124%, flouting a state law that prohibits rent hikes in excess of 10% after a state of emergency has been declared.
California’s state of emergency, declared by Gov. Gavin Newsom on Tuesday, bans price gouging for a range of goods and services, including rental housing. That means any rent increase above 10 percent since the start of the state of emergency is illegal for the duration of the crisis.
But since Tuesday, some landlords and their agents have raised prices by more than what California law allows. These price increases come as hundreds, if not thousands, of displaced Los Angeles residents search for interim housing while they figure out their next steps, worsening an already tight rental housing market in the region. -NY Times
One five-bedroom rental in Santa Monica which listed for $12,500 in February 2024 was going for $28,000 per month, an increase of 124%, before it was pulled from the market on Sunday according to Inside Edition's Lisa Guerrero.
Clients of our friend were trying to lease a house while their home was being renovated. The lease was for $18,000 per month. They were to sign the papers the day of the fire. Now the people renting want $30,000.
— James Woods (@RealJamesWoods) January 11, 2025
The vultures are circling and the flames aren’t even out yet.
Approximately 12,000 structures from Malibu to Pacific Palisades to Altadena have been destroyed in the ongoing fires.
LA real estate agent Samira Tapia told the NY Times that her review of more than 400 listings revealed nearly 100 properties which had rents raised beyond the 10% threshold - with one in North Hollywood jumping overnight from by $800, to $5,700 per month.
A furnished Bel Air home went on Zillow today for $29,500 / month. A few months ago, it was asking $15,900.
— David Wagner (@radiowagner) January 12, 2025
I called up the agent. She said she told her client to re-list the home after this week's L.A. fires.
"People are desperate," she said. "You can probably get good money." pic.twitter.com/PZJjzOeWRf
Another LA realtor, Laura Kate Jones, says she's found rents for several properties in West LA which have spiked between 15% and 20% overnight, with one listing agent raising the rent by $3,000 mid-tour, she said.
According to this property’s history, it was listed at $12,000 last year. Yesterday it was listed at $28,000. Price gouging? What’s up Trulia?? www.trulia.com/home/1812-na...
— Lisa Guerrero (@lisaguerrero.bsky.social) January 11, 2025 at 3:32 PM
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"People are so panicked and desperate to get into a house right now that they’re just throwing money into the wind," she told the NY Times. "People taking advantage of this. It’s horrendous."
Chelsea Kirk, director of policy and advocacy at Strategic Actions for a Just Economy, compiled a crowdsourced spreadsheet that includes addresses, Zillow links, dates of rent increases and exact pre- and post-hike prices.
Among the listings that stands out is a 9,615-square-foot Tudor mansion in Bel Air. The home was listed at $29,500 per months in December. But last week the listing reappeared with a new price — $39,000 per month. -NY Post
And according to Yahoo News, one small property - just 1,200 sqft. located in Woodland Hills which listed for $3,900 in November is now priced at $5,900.
California AG Rob Bonta has vowed to investigate violations and impose penalties on scumbag landlords, including fines up to $10,000 and/or imprisonment.
asdf
Congrats everyone!
— Ryan Danz (@RyanDanz) January 14, 2025
The Price Gouging for Long Term Rentals in Los Angeles has resulted in a Licensee Advisory Notice sent by the DRE.
😵💫 pic.twitter.com/B9xvrOBtlP
