People were talking about landlords price gouging after the Los Angeles fires. I searched MLS sold rentals for Los Angeles City five days before and after the fires. Median rents went from $3,800 to $4,800. I looked at some individual listings and saw them relisted higher after the disaster. Other agents saw the same. It's illegal to charge more than 10% higher price during a disaster. This is 20%. #pricegouging #losangeles #losangelesfires #fires #marycummins hashtag#realestateappraiser
The MLS just posted this to all agents logging into the system. What is "fair market value" for rental housing per HUD for luxury mansions? These mansions rent for $25,000-$200,000 per month furnished or unfurnished.
They've since added a link to that message below.
https://info.vestaplus.net/cawildfires
Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.
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