During an emergency, California law prohibits raising the price of a rental property by more than 10% of what its price was before the state or local emergency was declared. Realtors know this. Landlords should know this. It sounds like some people don't know this.
According to several new sources, on Wednesday California Attorney General Rob Bonta filed charges against a Los Angeles real estate agent for allegedly attempting to price gouge a couple who lost their home in the Eaton Fire. The charge carries a potential penalty of a $10,000 maximum fine and the possibility of 12 months in prison. According to an article in Maison Global, the DOJ has so far sent 500 warning letters to hotels and landlords who have been accused of price gouging. The article also quoted Bonta as saying, “Landlords cannot charge, or accept, rent that exceeds the 10% cap set by California’s price gouging statute, even if they find someone who is willing to pay it,” Bonta said. This seems clear. Why take advantage of someone's misery?
