Council OKs Rent-Control Cut
By a 9-4 vote, the City Council gave final approval today to a measure cutting allowable rent increases for the city’s 1.5 million tenants. If it is signed by Mayor Tom Bradley, it will take effect July 1.
The ordinance would limit rent hikes to the increase in the Consumer Price Index but prevent rents from being raised by more an 8% or less than 3%. For the next year, the ordinance would establish a 4% rate.
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