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The Rent Stabilization Ordinance requires owners to notify tenants at least 30 days in advance of collecting half of the registration fee in the month of June.
rent stabilization ordinance, said Dean Pentikis, Apollo partner who heads the firm's West Coast operations.
A recent study by the Economic Roundtable on the City of Los Angeles' Rent Stabilization Ordinance noted that "only 7 percent of the RSO inventory is held by owners who report that they are both making a profit and receiving a reasonable return on their investment.
``We believe it upholds the spirit and intent of the rent stabilization ordinance.
In attempting to prevent Woodland Park Management from enforcing its rent adjustments, the city argued in its motion that the adjustments violated East Palo Alto's Rent Stabilization Ordinance because they allegedly exceeded maximum allowable increases.
The Los Angeles City Council voted unanimously Tuesday to close a loophole in the Rent Stabilization Ordinance that many said allowed landlords to evict tenants at will.
Wyvernwood is a 100 percent, market rate-apartment complex that is subject to the City of Los Angeles' Rent Stabilization Ordinance.
The Rent Stabilization Ordinance, commencing in 1979, followed by confiscatory capital improvement pass-through restrictions and relocation assistance requirements, started the downward spiral by eliminating the ability of many owners to maintain their older property.