CULVER CITY (CBSLA) – A city which has seen its rent prices spike considerably in recent years took action Monday night to curb the issue.
In a 4-1 margin, the Culver City Council voted Monday to approve an ordinance which sets an annual 3 percent cap on rent hikes for apartment complexes built before Feb. 1, 1995, according to the Los Angeles Times.READ MORE: California One Of The Worst Places To Retire In The U.S.
The ordinance also offers tenants in those buildings just-cause eviction protections, which means they can only be evicted for reasons such as not paying rent, causing significant damage to the apartment or building or engaging in criminal activity.
The ordinance will expire in one year, on Aug. 11, 2020. The ordinance does not apply to single-family homes, condos or townhomes.
According to city statistics, more than 43 percent of Culver City renters are considered rent-burdened, which is defined as spending at least 30 percent of their monthly gross income on rent.
The ordinance also noted the need for new affordable housing construction with a boon of new tech and media jobs expected to be added in the city over the coming years. The city estimates it will see more than 5,700 new workers in Culver City over the next four years.READ MORE: Golden Globes Nominations Announcement Set For Dec. 13
In December, tech giant Apple announced that it plans to open new offices in Culver City.
As rents skyrocket and homelessness continues to grow, L.A. County and city officials have looked at ways to tackle the crisis.
In April, the L.A. City Council tentatively approved a new ordinance which would prohibit landlords from rejecting potential tenants with Section 8 vouchers.
In March, the Inglewood City Council passed an emergency ordinance which temporarily puts a cap on how much landlords can increase rent on their tenants in older buildings.MORE NEWS: Parolee Aariel Maynor Arrested In Connection With Jacqueline Avant Killing After Shooting Himself In The Foot
In November 2018, the L.A. County Board of Supervisors approved a temporary ordinance which limits rent hikes to 3 percent per year on certain apartments in unincorporated areas. It was extended in April. It’s similar to the city of L.A.’s Rent Stabilization Ordinance, which also allows landlords to increase rent by only 3 percent every year for rent-controlled units built before 1979.