SACRAMENTO — Gov. Gavin Newsom Sept. 28, signed Senate Bill 1157, authored by Sen. Steven Bradford (D-Gardena). This bill requires landlords managing medium- to large, subsidized, multi-family housing units in California to offer their tenants the option of having their rental payments reported to a major credit bureau.
The U.S. Census American Community Survey reports more than 45% of Californians are renters. Yet, at the present time, although failure to pay one’s rent has a negative impact on one’s credit, most Californians who make on-time rent payments fail to receive any benefit to their credit scores for making those on-time payments. This is because many landlords do not submit their tenants’ “full-file” (positive and negative) rental payment history to any of the major credit bureaus.
Specifically, SB 1157 requires landlords who manage medium to large multi-family units in California that receive federal, state, or local subsidies to offer each tenant in a subsidized unit the option of having their rental payments reported to a major bureau. By focusing on subsidized housing, the bill is tailored to those tenants likely to receive the greatest benefit from establishing or improving their credit scores.
SB 1157 includes a delayed operative date of July 1, 2021 to allow landlords reasonable time to prepare for implementation.
By Allison Butler Lately, I’ve had lyrics to ‘I’ve Got No Idols,’ by 1990s indie-darling…
LB Open Studio Tour 2025, October is Arts Month In celebration of Long Beach…
CARSON — The City of Carson announced the launch of the first-of-its-kind EV charging…
Washington hopes with all this firepower to maintain control over oil resources and stave off…
Gov. Newsom Signs Bill Expanding Workers’ Rights SACRAMENTO — Gov. Gavin Newsom Sept. 30 signed…
Denying Gazans humanitarian aid, impeding ships in international waters and arresting at gunpoint those onboard…