The City of Santa Ana has adopted a Rent Stabilization Ordinance effective November 19, 2021. The City’s Rent Stabilization Ordinance (RSO) is a local law that limits rent increases to the lower of 3% per year, or 80% of the percent change in the Consumer Price Index over the most recent 12-month period for certain residential…
After the Second Circuit Court of Appeals denied the Rent Stabilization Association’s (RSA’s) motion for a stay of the latest eviction moratorium law in October, RSA along with four small property owners, filed an amended petition in Federal District Court challenging the moratorium, along with a motion seeking a stay of the most recent moratorium…
Lawsuit Filed Against Rental Property Owner for Refusing Section 8 The Housing Rights Center (HRC) has filed a lawsuit on behalf of an elderly tenant in Los Angeles who suffered illegal discrimination because she receives a Section 8 Housing Choice Voucher. Source of income discrimination is a violation of city and state law.The 78-year-old senior…
With 2021 behind us and eviction moratoriums coming to an end, investment property owners ready to make a change are evaluating new opportunities and often planning to perform a 1031 Exchange. Many owners are motivated to sell because of the increasingly demanding regulatory environment. Others are selling because of lifestyle changes, and the desire to…
Real estate investors forget how important accounting is to their investment success. Most investors just look at one thing – how big the check is at the end of the month. But in fact, in addition to inspecting your property on a regular basis, keeping it well maintained and having great communication with your property…
Below are questions asked by rental property owners regarding California property management and resident manager laws followed by answers provided by Attorney Franco Simone. Q: I recently decided that managing my 15-unit apartment building in Oceanside, California is too difficult. I decided to hire a property management company to take over managing my apartment building.…
On March 24th, 2020, state and local officials made emergency declarations because of a deadly virus that has now claimed the lives of over 816,000 Americans (Coronavirus COVID-19 (2019-nCoV) (arcgis.com). At that time, there were many unknowns. Overnight, millions of people were out of work, while others were dying of a mysterious virus. We gave…