In historic vote, L.A. caps rent increases for rent-stabilized apartments at 4%

Los Angeles strengthened its rent stabilization law for the first time in 40 years Wednesday, setting a 4% ceiling on annual rent increases for a massive portion of the city’s housing stock.

The historic vote by the L.A. City Council will help set rents for decades to come for tenants who live in units built before 1978 — nearly half of the city’s residents.