Landlords must pay relocation costs if they raise rents too high

[Eugene Fedotov]

Coming to a neighborhood near you.

"The Los Angeles City Council adopted an ordinance on Tuesday, Feb. 7 requiring landlords to pay relocation assistance to tenants who move out after getting rent increases of 10% or more.Under the ordinance, if a landlord increases rent by more than 10%, or the Consumer Price Index plus 5%, the landlord must pay the tenant three times the fair market rent for relocation assistance, plus $1,411 in moving costs."

How long before other jurisdictions get the same brilliant idea?

[Michael Haas]

I second @Bill B. - If you keep your rents at market rate you should NEVER have to raise more than 10%. This hurts people who don't run their business as a business. Business has always been regulated to some extent, nothing all that new here.