This video discusses the upcoming changes to the maximum security deposit allowed for landlords in California, which will be enforced starting July 1, 2024, under Assembly Bill 12 (AB 12). The law stipulates that landlords cannot demand or receive a security deposit exceeding one month's rent, with an exception for certain landlords who meet specific criteria.
Disclaimer: This video is for educational purposes only. Consult with legal professionals specializing in landlordtenant law for specific legal advice.
Contact us:
Mike Dunfee Group
Long Beach, CA, United States
Phone: +1 (562) 4931400
https://www.mikedunfeegroup.com/
Dunfee Real Estate Services, Inc.
DRE # 02026232
#realestatelaws #realestatelaw #propertymanager #propertymanagement #propertymanagementcompany #california #longbeach #longbeachca #realestate #realestateinvesting #realestateinvestment #realtor #longbeachrealestate #californiarealestate #realestateeducation #realestatetips #landlord #landlordlife #landlordeducation #landlordtips #landlordadvice
Assembly bill, California Assembly Bill, real estate content, landlord education, property management, property management company, Long Beach property management, Long Beach real estate, California property management, California real estate, landlord advice
00:00 Introduction
00:16 AB12 Rules
01:36 What about security deposits already held?
01:56 What about furnished properties?
02:15 Pet Deposits
02:50 Can you charge 1st and last month's rent?
03:29 Can you work around the AB12 limits?
04:38 How will AB12 affect the rental market?
05:55 Bottom Line