The days of needing to save two to three months' worth of rent for a security deposit are largely over in California. Legislation took effect Monday that limits a security deposit on a rental property to no more than one month's rent for all but the smallest landlords. The law, passed as Assembly Bill 12, was authored by Assemblymember Matt Haney .
Lower deposits mean landlords are more likely to have to sue clients who cause considerable damage. “A landlord can demand damages at the back end, but then they’re more than likely going to have to sue and hire counsel to get that money,” Oh-Kubisch said. Additionally, she said that reducing security deposits may work against tenants who have less than perfect credit or lack a strong history of renting. Higher security deposits allowed landlords to be more flexible, Oh-Kubisch said.
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