Increasing numbers to tenants are becoming familiar with the Rent Stabilization Ordinance, and most rental property owners are already familiar with it. For more information on the Los Angeles RSO, have a look here.
RSO and most of its regulations have been in place for some years now. However, there are some changes taking effect in 2017 that tenants and owners should both be aware of.
Rent Registry Ordinance
Effective as of October 4th 2016, the LA City Council has enacted the Rent Registry Ordinance, which applies to all properties covered under RSO.
What landlords need to know
- All properties under RSO must be registered by the last day of February each year
- A separate form must be submitted for each applicable property
- Forms can be submitted online or by mailing a physical copy, though online submission will yield faster results and cost the city less
- Registration is only complete when all fees have been paid and all tenancy information, including the property owner’s emergency contact (property manager), are provided
- Tenants will have access to information entered by property owners into the registration system, and will be able to dispute it if the information they’ve been given doesn’t match
- Completing registration grants the landlord a registration certificate, without which rent can no longer be collected from RSO covered units
- For 2017, property owners who have not completed registration by the deadline will receive a provisional certificate. This will not be the case going forward
What tenants need to know
- Tenants will have access to information about their units that their landlord registers. If the information they have been given doesn’t match with the information that has been registered, tenants can dispute it with proper documentation
- Additional charges for amenities like parking spots are not included in the rent, and are not covered under the same terms by RSO
Cash For Keys
Tenant buyout agreements covered by the Rent Stabilization Ordinance, or Cash for Keys, has come under closer scrutiny by the LA City Council. Here are the updates for 2017
- Tenants can rescind agreements within 30 days of the agreement’s date, or at any time if the requirements of the agreement are not met
- Tenants are not required to accept any buyout agreements
- RSO relocation assistance must be offered with a buyout agreement
- Landlords must provide tenants with a disclosure notice before initiating any buyout agreement
Being aware of the current state of the Rent Stabilization Ordinance policies and regulations is important for every landlord to avoid costly pitfalls with their properties, and crucial for tenants to know whether they are being treated fairly. Keeping up with updates in these policies is a great step in that direction.
Posted by Ben Nicolas on