Renters in Los Angeles could face predatory and illegal price gouging in the wake of the deadly wildfires that displaced scores of people in both the Pacific Palisades and Pasadena/Altadena.
Even though it's California outlawed With price gouging in the wake of the disaster, some landlords in the Los Angeles area are already taking advantage of the situation, raising rents by sometimes as much as 80%, including one property in Bel Air that is selling for $10,000 a month. Prices can range from $5,900 to $29,500 per month. . around newsweek:
of Los Angeles Times I found a property in Encino on January 3rd that was previously listed for $9,000 per month. After the fire, the property was sold on Zillow for $11,500.
Listing agent Soheila Mirfakhrai said the price was reduced after speaking with a real estate agent. Los Angeles Times That's up to $9,800 per month, just below the 10 percent threshold.
said real estate broker Michael Noorman. Los Angeles Times Estimates for single-family rentals are being advertised online as being about 20% higher than what they would have cost had the wildfires not occurred, he said.
Price gouging in the wake of a state of emergency remains illegal in California, and Attorney General Rob Bonta encourages residents to report incidents.
“California defines price gouging as: When a seller attempts to take unfair advantage of a consumer “In emergencies and disasters, we can respond by significantly increasing the prices of essential consumer goods and services.” KQED. “During the Los Angeles wildfires, it may appear that hotels are charging higher-than-normal rates to evacuees seeking rooms and grocery stores, and drastically increasing the price of bottled water. yeah.”
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“The state Department of Justice is now asking the public to report any instances of price gouging they see, and warning that sellers found in violation of this law may face prosecution, fines, and jail time. “There is,” he added. “So if you are a resident of Los Angeles County who is currently forced to evacuate your home, or you have loved ones in the area that you want to protect from being exploited, keep reading to learn what you need to know about spotting. Please. Price Gouging and How to Report It.
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