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Renters Faced with Foreclosure Related Evictions Could be Saved

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Remember this apartment in Palms? | Photo by mondolind via LAist Featured Photos on Flickr

There's good news coming out of City Council President Eric Garcetti's district about a problem largely unreported in the home foreclosre crisis. When a landlord goes into foreclosure, renters, even the ones who are in perfect standing, are being pressured by the new property owner--banks--to vacate. Tomorrow, the 13th distric councilman will present a motion to halt this activity via a moratorium. From the press release:

According to Los Angeles city laws, tenants in buildings built before 1978 are protected until the city’s Rent Stabilization Ordinance (RSO). This states that a change in building ownership due to foreclosure alone is not an adequate reason to evict a tenant and tenants must be notified of their rights in these situations. In the event that eviction is justified following a foreclosure, tenants are also entitled to a relocation fee in the minimum amount of $7,000. However, some tenants are not aware of these rights and have been illegally pressured to quickly vacate their rental units.
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The Rent Stabilization Ordinance does not affect units built after 1978, but if Garcetti's motions passes, the moratorium would stop all evictions related to change in ownership.