Rentrospect Issue 10: February 4, 2022

MONTHLY NEWSLETTER ISSUE 10: February 4, 2022

INSIDE THIS ISSUE: RENTAL PERKS FOR MILLENNIALS & BABY BOOMERS COUNTY-SPECIFIC NEWS RENTAL EXPERT UPCOMING EVENTS POST-COVID EVOLUTION OF AMENITIES

Rental Perks That Attract Millennials & Baby Boomers

By Yardi Breeze

We often think of older and younger generations as being very different. But differences aside, millennials and baby boomers have a lot in common when it comes to renting. For one, it turns out that many members of both generations are looking to rent rather than own. And both want similar apartment communities and amenities. Here's a list of rental perks that will make your properties more attractive to both generations.

Allow online rent payments According to the 2020 NMHC Renter Preferences Report, 81% of surveyed renters prefer to pay rent online. (The rest said they have no preference between paper or digital payments.)

From this, we can assume that online payments are a good fit for any property. Many boomers are as tech-proficient as millennials and will gladly use an online portal to pay rent.

Make room for communal areas Millennials and baby boomers want to enjoy open areas and lounges where they can grill, chat and relax. Property managers in urban areas can change rooftops into communal spaces. Adding small upgrades such as barbecue grills, gazebos, fitness centers, or hot tubs can make your property more appealing.

Consider flexible workspaces Also known as co-working spaces, flexible workspaces matter more than ever in a post-COVID work environment. You’re likely to attract this work-from-home community to your properties if you cater to their needs. That means Wi-Fi, outlets, desks, natural light, and some plants to make it homey.

Add eco-friendly amenities Millennials and baby boomers each have unique green habits that you can cater to. For instance, boomers are likely to compost food scraps and finish everything in the fridge. Millennials are likely to bike to work and reduce paper usage with reusable grocery bags. Installing low-flow showerheads, smart thermostats, recycling stations and compost collectors, bike racks on your properties, and using property management software for paperless billing can help encourage eco-friendly activities.

Host some activities Meeting people isn’t always easy, even in a big, crowded city. To help facilitate human-to-human connections, property managers can host fun activities. Consider offering yoga or fitness classes.

Use your pool area, rooftop, or courtyard to host a monthly happy hour. If you host it, they will come. Use your property management software’s built-in email feature to promote these events to residents.

www.ebrha.com · (510) 893-9873 · membership@EBRHA.com

CONTRA COSTA CALLING County-specific news

The City of Concord Seeks Community Health Fund Board Member The Concord City Council sitting as the Concord/Pleasant Hill Health Care District, announced recruitment for an opening on the John Muir Community Health Fund Board (CHF). The city is seeking a representative to the Board for the term ending Dec. 31, 2025. Board members are responsible for governing the Community Health Fund, a taxexempt 501(c)3 nonprofit corporation and supporting organization to John Muir Health. The primary governing responsibilities include vetting, awarding, and monitoring grants, establishing grant-making and operating policies, approving annual operating budgets, annually evaluating the Executive Director, and annually electing the officers for the Board of Directors. Learn more at http://www.cityofconcord.org/civicalerts.aspx?AID=458.

Volunteers Needed at Walnut Creek-Area Food Banks Food banks and pantries in Walnut Creek and other cities across the United States are in dire need of volunteers as the highly contagious omicron coronavirus variant continues to infect Americans. It's an unfortunate challenge as many food pantries already struggle with increased need and the rising costs of food and other goods.

Food banks have experienced a 55% spike in usage through the pandemic, according to the latest Feeding America data, erasing a decade's worth of progress toward ending hunger in the United States. Learn more at https://patch.com/california/walnutcreek/volunteers-needed-walnut-creek-area-food-banks.

ALAMEDA AHEAD County-specific news

No-cost Drive-thru COVID-19 testing at Fremont Central Park Sports Complex.

Bay Area Community Health is partnering with the City of Fremont to offer free pop-up COVID-19 testing on a monthly basis through March. Drive-thru appointments are available on several dates from 9:00 a.m. to 3:30 p.m. at the Fremont Central Park Sports Complex, located at 1110 Stevenson Blvd. Masks are required to protect the health and safety of both workers and visitors. Testing is by appointment only.

Public Safety: Adding Officers to East Oakland The Oakland Police Department (OPD) reallocated 48 officers to East Oakland, the area most impacted by the increase of violent crime and where the highest percentage of 911 calls for service come from. The addition of these officers will allow the OPD to be more responsive to calls for service and help make Oakland safer.

Hayward Invites Public Participation in Key Housing and Environmental Plans The City of Hayward is updating important local government policy documents in 2022—among them are the Housing Element of the General Plan and the Climate Action Plan—and is seeking community input as part of the process. To learn more, visit www.haywardhousingandclimateupdate.com.

www.ebrha.com · (510) 893-9873 · membership@EBRHA.com

RENTAL EXPERT (FAQS) I need to increase the rent on my property, but I feel overwhelmed and confused by the amount of rent control laws and local mandates.

First, check if your property is regulated by a city rent control program. If the property is exempt from local rent control regulations, then check if it falls under California's Statewide Rent Control (AB 1482). EBRHA team members are available to assist you with this process.

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My property is exempt from the Oakland Rent Adjustment Program. Can I raise the rent?

Yes. While Oakland's eviction moratorium protections continue until the city lifts its local health mandate, Oakland's moratorium on rent increases only applies to tenancies regulated under the Oakland Rent Adjustment Ordinance.

Is there a ban on rent increases in Alameda County?

No. Alameda County's local public health emergency is still in effect but does not include a ban on rent increases. If your property is exempt from local, citywide rent control ordinances that may have harsher restrictions, you can raise the rent as usual.

Is there a ban on rent increases in Contra Costa County?

No. If your property is exempt from local, citywide rent control ordinances that may have harsher restrictions, you can raise the rent as usual.

My property is governed by California's statewide rent control, but I did not implement a rent increase last year. Can I collect a banked increase?

No. California rent control does not allow banking increases, and owners are encouraged to implement a timely increase each year.

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Can I implement a banked rent increase on a property regulated by the Oakland Rent Adjustment Program?

No. Oakland RAP's ban on banked rent increases continues until its local health ordinance is lifted. You can only increase the rent by the CPI of 1.9%.

How about in the City of Alameda, which also has its own local rent control program?

The City of Alameda has implemented a freeze on rent increases for units regulated by its local rent control program. The freeze will remain in place until 60 days after the City Council lifts the local state of emergency. You can read the City of Alameda's FAQs here.

How about Richmond?

For properties regulated by Richmond rent control, you can increase the rent by the annual general adjustment or 1.6% plus banked rent increases if applicable up to, but not exceeding, 5%. Richmond's local ordinance continues to impose stricter requirements for evictions, but there is no longer a freeze on rent increases. You can find more information at http://www.ci.richmond.ca.us/3364/Richmond-RentProgram.

LEARN MORE

www.ebrha.com · (510) 893-9873 · membership@EBRHA.com

THE POST-COVID EVOLUTION OF AMENITIES Courtesy: National Apartment Association

From presenting online cooking classes to reconfiguring amenities spaces for social distancing compliance, rental housing and the amenities within the industry are changing. Are operators adapting as they should be? As with everything, the pandemic has forced the industry to reevaluate what amenities communities offer and become more creative with what's appropriate for the times and will last beyond COVID-19.

Creating Community Spaces Within Buildings This ties into emphasizing health and wellness. Large windows that allow maximum sunshine to pour in and promote light and open airflow are one way to encourage community spaces within buildings. As people gather together in group settings, operators must take all the steps necessary to make residents feel safe and comfortable. Additionally, with more people staying home, commercial-grade Wi-Fi is necessary for operators.

Changes Within Units The key is to be flexible with spaces. Many people continue to work from home, so multifunctional spaces are crucial in apartment homes. Hideaway desks, swivel lighting, and sound-reducing materials are becoming in-demand features to support those who work from home. Altering lighting is an easy way to change the mood in a room and allows residents to have a “different” space, even while in the same room. In fact, searches for “vibey lighting” have increased by 400%.

Community Activities Having a sense of community enhances the quality of life for all residents. This can be done in a number of ways, including online classes and activities, sports courts, outdoor living spaces, community gardens, and large open spaces for residents to congregate. When creating outdoor spaces, be sure to install heating lamps and shaded areas, making them comfortable year-round.

Operators are finding that if you provide it, residents will use it.

Residents working from home and spending more time at home will continue to do so for the foreseeable future. So investing in practical, useful amenities will remain relevant well into the pandemic and beyond.

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