New California Bill Would Limit Rental Security Deposits to One Month’s Rent
California lawmakers are considering putting a limit on the amount of security deposit landlords can charge renters, drawing opposition from several of the state’s property owners and realtors’ groups.
The legislation has recently crossed a major hurdle on its way to full approval. Assembly members on May 22 advanced Assembly Bill 12, sponsored by Assemblyman Matt Haney (D-San Francisco).
If passed by lawmakers and signed by the governor into law, the bill would prohibit landlords from charging tenants more than one month’s rent as a deposit for furnished or unfurnished rental property.
High cost of living and limited housing inventory have made California one of the nation’s most expensive states to live in for renters. The state has 17 million people—44 percent of its population—renting their homes, according to the California Budget and Policy Center’s report (pdf) released in January 2021….