​

The Apartment Association of Greater Los Angeles (AAGLA) filed a lawsuit against the City of Los Angeles on Monday, seeking to nullify and enjoin the city from enforcing its rent freeze ordinance. The suit, filed in California Superior Court, seeks to overturn Ordinance No. 186607 codified in LA Municipal Code § 151.32 due to its deprivation of AAGLA members’ due process rights.

Cheryl Turner, president of AAGLA’s board and a Los Angeles-based attorney noted that this ordinance has frozen all rent increases for more than three years under extreme inflationary pressures – causing tremendous financial strain on rental housing providers throughout the city: “Many have been forced to exit the rental business or liquidate retirement savings just to keep up with rapidly rising costs; some are even facing foreclosure proceedings.”

The post AAGLA Takes Legal Action Against Los Angeles Over Rent Freeze Ordinance appeared first on CRE MarketBeat.