Landlords, Tenants to Share L.A.’s Quake Retrofit Costs
Los Angeles landlords and tenants must equally share the costs of earthquake retrofitting, under a deal approved by the City Council.
The agreement that passed unanimously this week allows building owners to pass half the retrofit costs to tenants through rent increases over a 10-year period, with a maximum increase of $38 per month.
The Los Angeles Times reported the vote comes after more than a year of studies and debate, and now allows the city to begin implementing the most sweeping mandatory seismic laws in the nation.
Related:
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- Sweeping Upgrades For Quakes Proposed by Los Angeles Mayor
- 9 Percent Probability of L.A.-Area Earthquake: Study
- Paying For Quake-Proofing Buildings Weighted by Los Angeles