"California's 2024 Legislation: Impacts on Renters, Gun Control, and Financial Policies"

California has passed a new law that will cap security deposits at one month's rent for tenants, starting July 1, 2024. Governor Gavin Newsom signed the bill with the intention of making renting more affordable, especially for those who may struggle with qualifying due to credit issues. Landlords are not required to refund existing double security deposits, but tenants are encouraged to negotiate the return of any excess.