Following is what landlords sometimes don’t understand regarding the security deposit refund process. Taking Too Long California law states that landlords have a maximum of 21 days after the resident has vacated the property to refund the security deposit. If this time frame is exceeded, the landlord forfeits any right to retain the resident’s…
Assembly Bill 12, which prohibits housing providers from requiring security deposits greater than one month’s rent, has [been signed by] Governor Newsom and will become effective in June of 2024.] Background Introduced by Assemblyman Matt Haney in December, 2022, AB 12 climbed the state legislative ladder in under a year with few concessions to rental…
Most renters know securing housing isn’t as simple as finding the perfect place. California’s renters must save up thousands of dollars to provide security deposits that can legally be as much as two months’ rent, or three months’ for furnished units. Add in the requirement that renters put up the first month’s rent before they can…