Security deposits to be capped at only one month's rent in California

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Already existing rental agreements won't be impacted by the new law, but tenants rights advocates say this will help increase access to housing in San Diego.

SAN DIEGO — Renters here in California are just days away from receiving more legal protections. San Diego County will have to come up with for their security depositThis new law goes into effect statewide on July 1, capping the amount a landlord can charge for a security deposit at just one month's rent.

"We see this every day, we see people being unhoused, being evicted, just because rents are going up," Mendoza told CBS 8. While the average deposit now runs between one to two month's rent, landlords have sometimes charged three month's rent depending on an applicant's credit score. Based on the average rent in San Diego, this could exceed $9,000."Any act to try to help people find a new home, a new place, I'm all for it!" added another.

"It's going to help a lot of people," countered Mendoza, who sees this as a way to increase access to rental housing and help more Californians avoid homelessness.

 

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