SANTA BARBARA, Calif.—Moving forward, almost all new rental contracts in California will require no more than one month’s rent as a security deposit. However, existing rental agreements that required more than one month’s deposit will not be affected. Michelle King recently started her own property management company— connecting homeowners with tenants and helping ensure everything runs smoothly for both parties. She says Assembly Bill 12, which caps most security deposits at one month's rent, will help folks in expensive areas like Santa Barbara. “People don't have to come up with so much money just to get into housing. You know, it can be expensive to rent here in Santa Barbara. And s
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