Apartment Owner’s Retain Right to Check Tenant Credit Reports … for Now

The California Apartment Association (CAA) helped save apartment owner’s rights, for now. Legislation was shelved that would have prevented landlords from considering prospective tenants’ credit reports. This would have affected the entire tenant screening process, if passed.

At the request of CAA, Assemblywoman Sharon Quirk-Silva, D-Fullerton, agreed to shelve the proposal (AB 2527), which would have prohibited property owners from using credit reports, eviction history and credit worthiness as part of the tenant screening process.

IT’S NOT OVER YET, THOUGH.

AB 2527 may be off the table, but other bills take aim at using credit reports during tenant screening including AB 2203 by Assemblywoman Luz Rivas, D-San Fernando Valley, and SB 1335 by Sen. Susan Eggman, D-Stockton.

Other pending proposals unveiled in LA City Council aim to prohibit landlords from considering an applicant’s criminal record & credit report. CAA has denounced these measures as unnecessary and stated they would only add more problems to the housing crisis.

For more news impacting multifamily investment owner’s, follow Lucrum or subscribe to our newsletter. For the past 20 years, we have helped hundreds of clients overcome uncertainty, achieve maximum value and capitalize on the right investment opportunities.

Contact us today!

 

Advisors

Similar Posts

Equitable Rent: What Investors Need to Know About LA City’s Proposed RSO Changes

Market News

For multifamily investors in Los Angeles, staying ahead of regulatory changes is … Continue reading Equitable Rent: What Investors Need to Know About LA City’s Proposed RSO Changes

Read more

Los Angeles City Council Considers 1-Year Eviction Moratorium

Market News

On Tuesday, March 4th, the Los Angeles City Council will consider implementing … Continue reading Los Angeles City Council Considers 1-Year Eviction Moratorium

Read more

L.A. City Ignores Facts, Passes Major Repairs Moratorium

Market News

On Friday, March 7th, the Los Angeles City Council voted unanimously (12-to-0) … Continue reading L.A. City Ignores Facts, Passes Major Repairs Moratorium

Read more

Valuable Insight

Stay informed about new legislation, regulations, market events, and strategies to protect your interests and assets.

SUBSCRIBE NOW