A coalition of 15 top multifamily firms and commercial real estate industry groups have quickly come together to support the residents and rebuild Los Angeles after the devastating wildfires that struck the city during the week of January 7, 2025. The LA Wildfires CRE Pledge for Action is a grassroots initiative focused on meeting immediate needs in affected communities across Southern California and laying a foundation for long-term restoration. One key goal of this initiative is to combat price gouging by apartment owners, an issue championed by the California Apartment Association (CAA).
With tens of thousands of people displaced from their homes following fires in Pacific Palisades, Altadena, and other areas throughout Southern California, there are concerns about rental price gouging for both apartments and single-family homes. In response to this issue, landlords in California are coming together to pledge against price gouging while also working with third-party property management companies to make housing available as quickly as possible without barriers.
Bob Hart – President & CEO at TruAmerica Multifamily – stated that his company is collaborating with third-party management teams to distribute lists of available units widely among those impacted by fires. They are also reducing qualifications such as application fees or credit checks while expediting move-ins and lowering deposits in order help families find housing more quickly. Hart urges other landlords across California join him in making these commitments against price gouging during this time when our community needs healing.
Hart recently hosted a special episode on his podcast “Building Better Communities” where he gathered industry leaders who discussed how they’re helping Los Angeles recover from one its most catastrophic natural disasters ever – wildfires which have caused unprecedented damage throughout much southern part state.
Tom Bannon – CEO at CAA – emphasized that it’s crucial for landlords across all regions affected by these recent events commit themselves towards fighting against any form rent increase beyond what’s allowed under Penal Code Section 396; now effective law limits increases up no more than 10% above pre-emergency levels after an emergency is declared.
The LA Wildfires CRE Pledge for Action has set up a resource page at CRE Pledge for Action to learn more about the relief resources available and find out how to join this rebuilding effort. The post BREAKING NEWS: CRE Industry Coalition Pledges Action on LA Wildfires appeared first on Connect CRE .
