Renters in Los Angeles could face predatory and illegal price gouging following the horrific wildfires that have displaced so many people in both the Pacific Palisades and Pasadena/Altadena.
Even though California has outlawed price gouging in the wake of an emergency disaster, some landlords in the Los Angeles area have already exploited the situation by raising rental prices sometimes high as 80 percent, including one property in Bel Air jumped all the way to $29,500 per month from $15,900 per month. Per Newsweek:
The Los Angeles Times found a property in Encino that was previously listed at $9,000 a month on January 3. After the blazes started, this was then on Zillow for $11,500.
Listing agent Soheila Mirfakhrai said the price was then lowered after speaking to the Los Angeles Times to $9,800 per month, just below the 10 percent threshold.
Real estate broker Michael Nourmand told the Los Angeles Times that estimates for single-family rentals are being advertised online at around 20 percent higher than they would have cost if the wildfires had not broken out.
Price gouging in the wake of an emergency remains illegal in California and Attorney General Rob Bonta has encouraged residents to report any cases.
“California defines price gouging as when sellers try ‘to take unfair advantage of consumers during an emergency or disaster by greatly increasing prices for essential consumer goods and services,'” noted KQED. “During the L.A. wildfires, this might look like hotels charging more than their usual rates for evacuees seeking a room or a grocery market, hugely increasing the price of bottled water.”
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“The state’s Department of Justice is now urging people to report any examples of price gouging they see and warns that sellers found to be violating this law can be prosecuted, fined and imprisoned,” it added. “So if you’re an L.A. County resident who’s been forced to evacuate their home right now — or you have loved ones in the region you want to ensure aren’t being taken advantage of — keep reading for what you need to know about spotting price gouging, and how to report it.”
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