Posts from February 2025
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6
New Executive Order regarding price gouging
A new Executive Order has suspended the price gouging law as applied to single-family homes of four bedrooms or more in certain ZIP codes.
As of Feb. 4, properties which have not been rented nor offered for rent within one year prior to Jan. 7 and the HUD Fair Market Rent for a four-bedroom unit is or exceeds $5,500 are now exempt from the price gouging law in the following ZIP codes: 90015, 90049, 90067, 90077, 90094, 90210, 90263, 90265, 90266, 90272, 90274, 90275, 90290, 90291, 90292, 90703, 91011, 91105, 91210, 91301, 91302, 91307, 91354, 91364, 91436, 91709, and 91789. The order is effective through March 8, 2025.
See this link to determine the HUD Fair Market Rent.
At the same time, the Executive Order closes a loophole by extending the price gouging protections to leases of ANY length. Pr...