Newsweek found properties that jacked up their prices during the California wildfires raising concerns of potential price gouging.
The emergency law caps rents to a ‘fair market value’ determined by HUD, but the caps are so low that many high-end homeowners are delaying putting
“just a quick scan of zillow reveals a few egregious instances of price gouging by landlords and agents. this is illegal,” someone else noted, highlighting one listing that was originally priced at $7,500 per month in late October and as of Jan. 11, went up to $11,000.
A law barring monthly rents of more than $10,000 for new listings is stopping high-end homes from going on the market, real estate agents and brokers say. Such homes could be in demand for wealthy fire victims.
Within the week since Los Angeles’s worst-ever disaster began, rent gouging has become a crisis on top of the crisis. It’s against the law to increase a rental price by more than 10 percent once a state of emergency has been declared;
Because California is in a state of emergency, laws targeting price-gouging, including a ban on landlords raising rents by more than 10 percent of pre-emergency levels, should be in effect. But that hasn't deterred some landlords from apparently raising their rents by far more than that,
Tenant advocacy groups, landlord associations and elected officials are condemning rent gouging after tens of thousands of people were displaced in deadly fires this month.
The wildfires that swept through the Los Angeles area last week have consumed more than 40,000 ... He later texted a reporter saying the listings weren’t his. Zillow released a statement saying it had activated "internal systems to flag potential ...
Redfin chief executive Glenn Kelman said one of his agents lost her home to the fires that tore through Los Angeles. She found a home for rent, listed at $5,600 a month, he said. But when she called, the landlord had nearly doubled the price to $11,000 a month. So she drove down the southern California coast to search for a hotel in Orange County.
Landlords in Los Angeles are facing accusations of price gouging by significantly increasing rents for high-demand properties amid the ongoing wildfires. Despite California laws prohibiting price hikes over 10% during emergencies,
California Atty. Gen. Rob Bonta announced charges against a La Cañada Flintridge real estate agent for allegedly raising the price of his rental by 38% after L.A.'s wildfires.
Though dangerous fire weather conditions have eased, officials warned of other potential risks in impacted neighborhoods.