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Updated 10 months ago,
Rental Increase - What is the inflation now in State of California
Hi There
I have a single-family home in Torrance, CA that was primarily once for me and has been a rental since 2017. My agent had added CAR Rent Cap and Just cause addendum without having a clue what it is and both my tenant and me have signed it. The only thing, I notice now is, my agent has not tickmarked - Notice of Exemption. Now when I see the law AB 1482, it says single family home not owned by a corporation is exempted from rent control provided they give notice of exemption (and the line in CAR form says, tickmark Notice of Exemption for notice to be in effect which we did not)
The property will come to market for rent in month of July. What is the rate of inflation now? I see the rent, I can increase is 5% plus rate of inflation. Where can I get the official number for rate of inflation for city of Torrance, CA
Thanks