In any city where the majority of people are renters, the projected rise of a 5% increase in rent is anything but good news.

Renters inhabit over 61% of households in California; one of the highest rates in the country. Under the city’s Rent Stabilization Ordinance tenants have some protection. However, this law only applies to housing built prior to 1979 (when the Ordinance came into effect); an ever-shrinking housing stock in this city.

As the increase in rent skyrockets, Landlords are motivated to get rid of longtime tenants paying below-market rent. Landlords cite they have been hit with significant increases in real estate taxes, and rising fuel costs, and deserve compensation.

Well, you were always seeking an opportunity to advertise your property, and market it online with a new popular social network.  Then you are lucky enough to click socalrealtynews.com, the best Southern California Real Estate Classifieds. SoCal Realty News brings together the best-classified listings from Craigslist, Trulia, Realtor.com, and many other sources into one convenient place for home shoppers to find.  SoCal Realty News is your source for Southern California Real Estate Classifieds.