Minimum Wage Increases Are Here: What They Mean for Your Bottom Line
diego2025-08-26T14:35:01-07:00The July 1 minimum wage increases across Los Angeles are already reshaping payroll budgets, and for property managers in budget season, the impact is immediate. With rates now as high as $17.87/hour in the City of Los Angeles, labor costs are rising faster than many budgets anticipated. For properties with on-site staff, janitorial teams, security, or day porter services, these increases can significantly impact your tenants’ and your properties’ bottom line if not addressed now. But local wage hikes aren’t the only factor driving labor cost pressure. A Perfect Storm of Labor Market Forces Several economic and political developments ...