Starting July 1st, 2024, California landlords face a significant shift in security deposit regulations. The state has taken action to protect tenants’ rights and ease the financial burden of moving into rental properties. Until recently, landlords could ask for a security deposit of up to two times the monthly rent (or three times the rent for furnished units). This practice often strained renters’ budgets, especially in a competitive housing market. As of July 1st, 2024, the game has changed. The new law caps security deposits at one month’s rent. This means that landlords can no longer demand excessive amounts upfront, making move-in

costs more manageable for tenants. Adjust Your Practices: Landlords must adapt to the revised limit. Be aware that exceeding the one-month threshold is no longer permissible. When discussing security deposits with potential tenants, provide clear information about the new regulations. Transparency builds trust. Ensure that your lease agreements reflect the updated security deposit rules. Avoid any confusion by keeping your paperwork in line with the law. This change is a win for tenants, offering greater financial security and peace of mind. As a landlord, stay informed and comply with the new guidelines. Let’s create a fair and balanced rental landscape for everyone!