AB2747, California’s New Rent Reporting Bill, Is Signed Into Law by Governor Gavin Newsome

California Governor Gavin Newsome signed AB2747 into law on September 19th. This bill requires California landlords of a dwelling unit of residential real property to offer renters on leases the option to have their positive rental payment data reported to at least one of the major consumer credit reporting agencies. Landlords of residential buildings that have 15 or fewer units are exempt unless they own more than one residential rental building -and- they are a real estate investment trust (REIT), a corporation, or a limited liability company (LLC) in which at least one member is a corporation (no matter the total number of units). Assisted housing developments are also exempt.