A new law regarding California rental security deposits has been signed into law by Governor Gavin Newsom.
By Briony James
Taking effect July 1, 2024, the new law limits rental security deposits to a maximum of the equivalent of one month’s rent.
This is a significant change from the old law which allowed up to 2 months’ deposit for an unfurnished apartment and 3 months for a furnished one. There are limited exceptions for small property owners owning no more than two residential rental properties with a maximum of 4 dwelling units.
Written by San Francisco Assemblyman Matt Haney (D), the bill, AB12, provides a change in favor of tenants.
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