New legislation moving through the California legislature has the potential to create added economic distress for tens of thousands of small rental property owners throughout Southern California. While Assembly Bill 828 (Ting) is intended to help with the financial stress caused by the COVID-19 health crisis, it is a 25% blanket reduction of rent.
If passed, this bill will create even more economic distress for tens of thousands of small rental property owners who, like many renters, are already under immense financial pressure due to the COVID-19 pandemic.
The bill claims to be a temporary moratorium on evictions related to COVID-19. In reality, it provides a 25% blanket reduction of rent without due process.
As proposed, AB 828 requires the court, even if a tenant doesn't demonstrate a financial hardship as a result of the COVID-19 virus, to:
The bill requires the courts to make assumptions about a property owners financial situation based on the number of units owned:
Southern California Rental Housing Association (SCRHA) is dedicated to protecting the interests of rental property owners and managers. Join us as we URGE A NO VOTE and let legislative leaders know that AB 828 will compromise your ability to provide rental housing.