Starting July 1, a new California law will limit security deposits to one month's rent. Landlords with more than two properties are exempt from this law.

Yahoo Finance reporter Dani Romero joins Wealth! break down the new law for renters in California and how landlords and tenants are responding.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Nicholas Jacobino