By unanimous vote, the Los Angeles City Council approved new legislation on condo conversion and tenant relocation. The new legislation includes strong protections for the 70% of Angelenos who rent their homes.
The Council's actions doubled and in some cases tripled relocation fees paid to tenants that had only seen slight increases since 1987. The new fees are based on the realities of the housing market, and will help ease the insecurity of middle- and working-class renters in
The relocation fees are structured as follows:
- For tenants that have lived in their residence for less than three years, qualified tenants (senior, disabled, and families with minor children) will receive $14,850. All other tenants with less than three years tenancy will receive $6,810.
- For tenants that have lived in their residence for more than three years, qualified tenants will receive $17,080 and all other tenants will receive $9,040.
- For all tenants that earn less than 80% of the average income in the area, qualified tenants will receive $17,080 and all other tenants will receive $9,040.
In a public process that unfolded in many committee hearings and council meetings over the past year, this council evaluated data and testimony, rigorously debated policy options, and finally passed legislation that protects tenants and increases certainty for developers. I am proud of our process and our result.