📢 NEW CALIFORNIA LAW: Security Deposits Capped at 1 Month's Rent – Starting July 1, 2024!

Summary

Starting July 1, 2024, California's Assembly Bill 12 (AB12) caps residential security deposits at one month's rent for both furnished and unfurnished units. While small landlords (owning 4 or fewer units) are exempt, the law significantly impacts larger rental operators and may lead to increased rent or more frequent legal action for damages.