July 1st 2024 Deposit Legislation (AB-12)

*Effective 06/24/2024

Please be advised, as per new California State Legislation (Assembly Bill 12), beginning July 1st, 2024, Lease Agreements dated 07/01/24 or later CANNOT CONTAIN MORE THAN 1x RENT AS DEPOSIT regardless of the property being furnished or unfurnished.

Additionally, LAST MONTH RENT NO LONGER AVAILABLE. As of July 1st, 2024, CCC will no longer be providing Last Month's Rent per California Law and will only be providing First Month's Rent and 1x Security Deposit.

This new, forward-thinking legislation is aimed to ease the burden of move-in costs for California tenants and is designed to provide more affordable housing for all. CCC supports AB-12 and is committed to enforcing the legislation and holding Landlords and Property Managers accountable.

Look out for an update to the previous 3x Rent Limit. A new 2x Rent Limit policy will be sent out following this policy update. Please delete the previous 3x Rent Limit policy thread immediately as it has become outdated. Regardless of the number of properties a LL/PM might have, CCC's internal policy of 2x Rent Limit is unwavering without exception.

To learn more, please watch this informative video: https://www.youtube.com/watch?v=sXrd4U0bYxU