Los Angeles rent control is not that onerous when compared to some other rent control laws. Landlords can raise rents 4% a year, and they can also charge tenants for any improvements done to the property. Once a tenant leaves, they can push the rent to fair market. It also only applies to properties built prior to 1977.
A landlord who bought after 1977 knew what he was getting himself into, so the landlord who blamed his bankruptcy on rent control is either full of it, or he needs to do his homework before buying properties.
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