LOS ANGELES (CBSLA) — Rents in Los Angeles and Orange Counties rose at a 5.8% annual rate last month — the highest for a July since 2005.
That’s according to the Consumer Price Index , which polls consumers and surveys data from landlords.
The stats say that so far this year, the LA-OC rent index has risen an average of 5.5% compared to 4.9% in 2018 and 4.6% from 2015-2017. Some point to pending California rent control legislation — Bill AB-1482 — as the reason for the soaring rents.
Nicholas Dunlap, President of the Apartment Association of Orange County , says property owners are raising rents before the bill becomes a statewide law and rent can’t be raised above a certain […]
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