Rental security deposits in California cut substantially under new law

Rental security deposits in California will be cut substantially under a new law that limits them to one-month’s rent.

The cost to move into a furnished rental in California will be cut in half under Assembly Bill 12, which took effect Monday, July 1. For an unfurnished unit, maximum move-in costs will be a third less.

The one-month limit applies to landlords who own more than two rental properties or more than four units.

For mom-and-pop landlords below that two-property...