Multifamily rents are rising as demand remains stable and healthy, but rent growth is slowing in some markets, Yardi Matrix says in the June National Multifamily Report. “While some markets are experiencing slowing growth, multifamily largely continues to perform well, with a solid 95 percent occupancy rate and moderate rent growth in most metros. However, economic uncertainty and…
DetailsAs a landlord or building owner in California, it is essential to stay informed about the latest legislative developments that impact your responsibilities and obligations. Two important bills, SB 721 and SB 326, have been enacted to enhance safety standards for multi-unit residential buildings. This article aims to provide a comprehensive guide to help you…
DetailsParticipants at the CREFC (Commercial Real Estate Finance Committee) annual conference in June highlighted the troubles that include weak demand, rising defaults and growing difficulty in refinancing maturing loans, Yardi Matrix writes in a special bulletin. “No matter how well loans are performing, takeout financing will be difficult,” said one panelist at the meeting of CRE Finance Council’s Annual…
DetailsThe below letter was sent out by Attorney Michael Millman. Dear Friends: Although every tenant activist affirms and agrees that upon the completion and passing of a comprehensive statewide rent control law, (AB 1482), there would be no further challenge or attack on the “protections” secured by the 1995 Costa-Hawkins Fair Housing Act. It appears…
DetailsRepeal the Death Tax is now Initiative Number 23-0005. The title and summary [should have been] released on approximately August 21st, after which signature collection [began]. The Repeal the Death Tax initiative will restore the rights that were lost but will not change the other parts of Prop. 19. It will be retroactive, meaning people whose property…
DetailsIn today’s rapidly-evolving digital landscape, it’s easy to overlook the significance of traditional forms of communication, such as phone calls, in the day-to-day operations of leasing offices. While email and messaging services have become prevalent, phone calls remain an indispensable aspect of effective leasing-office management. However, property management professionals must remain vigilant about the potential…
DetailsBelow are questions asked by rental property owners regarding California property management, followed by answers provided by the law firm of Simone and Blevins. Effective June 24, 2023, the city of San Diego enacted the new Residential Tenant Protections. Ordinance No. O-21647. This new ordinance amended and replaced the Tenant’s Right to Know Ordinance…
DetailsQuestion: You seem to be a person who has learned the same way I have, through the school of hard knocks. One of the things I like about you is that you are willing to admit that you have made mistakes and you are willing to help others avoid learning the hard way. If you…
DetailsI have always referred to hard money loans as equity loans; hard money has always sounded very sleazy. One of my favorite expressions in life is that “everything is relative”. Consider fire insurance. If your house is in a brush area, you will have to go to California Fair Plan and pay MORE for less…
DetailsThe landscape of property ownership in California has undergone significant transformations in recent years, with the implementation of rent caps and the surge in property insurance costs. While the intention behind rent caps was to protect tenants from exorbitant rental prices, the unintended consequence has been the stifling of profitability for apartment owners. When coupled…
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