Form with which the board of directors of a corporation records the contents of its first meeting.
Form with which the board of directors of a corporation records the contents of its first meeting.
The Ellis Act is a provision in California Law that provides landlords in California with a legal way to "go out of business" short of selling the property to another landlord.
The Ellis Act is a state law (Government Code Section 7060 et. seq.) designed to allow landlords to get “out of the rental business.” In order for Ellis evictions to be approved, landlords must remove all units within a building from the rental market for five years. It cannot be applied to just a single unit.
The city has long limited rent increases to 60% of CPI, and starting in 2022, Oakland passed an ordinance capping rent increases at 3% if the CPI increase exceeds that rate. Landlords can't raise rent more than once a year, and they need to inform tenants in writing 30 days prior to any increase going into effect.
As of 2019, it was $6,985.23 per tenant, with an additional $4656.81 per disabled or elderly tenant, capped at $20,955.68 per unit.