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.
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.
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
An emergency was declared in California on January 7, when the fires started. On January 12, Governor Gavin Newsom signed an executive order that extended laws "prohibiting price gouging in times of emergency" until January 7, 2026, in Los Angeles County.
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
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.
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;
The ongoing disaster will affect residents’ health, local industries, public budgets and the cost of housing for years to come.
“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.
About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.
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 ...