Southern California Rental Housing Association Rental Advisor Magazine - July Issue by Southern California Rental Housing Association

Be Prepared:

Maintenance Checklist for Fire & Life Safety Systems Page 48

A Three-Phase Guide to Implementing Utility Billing Page 37

How California Taxpayers Have Weathered the Pandemic Page 18

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VALUE

ADVOCACY VALUE

Presence in the community

The ultimate resource for all things related to rental housing.

Product and program diversification

Rental housing friendly public policy & elected and appointed officials

Reenvisioning quality housing for all

Robust funding for rental housing policy creation

To create a thriving rental housing community through advocacy, education, and collaboration

Resource hub

STRATEGIES Strategic alliances Fundraising Set strategic priorities

Character & integrity that negates need for regulation

OUTREACH

OUR MISSION

STRATEGIES

Recognized resource hub that inspires diverse membership growth & engagement from all sectors of rental housing.

ADVOCACY

OUR VISION

OUTREACH

People coming to SCRHA for opinion, advice, knowledge, & expertise Rental housing providers are recognized as valuable & essential members of the community

SOCALRHA.ORG 44| Southern California Rental MANAGEMENT Housing Association Rental Advisor April 2022 JULY 2022 - APARTMENT MAGAZINE AMM7

STRATEGIES Visibility & prominence Collaboration

Volume 64 Number 07 July 2022

APARTMENT NEWS PUBLICATIONS, INC. 15502 Graham Street Huntington Beach, CA 92649 www.aptnewsinc.com 714-893-3971 FOUNDER : Don Smeallie, Sr.

PRESIDENT’S MESSAGE: FOCUS ON THE FUTURE.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

By Lucinda Lilley

EXECUTIVE DIRECTOR’S MESSAGE: A NEW LOOK AND NAME. . . . . . . . . . . . . . . . . . . . . . . 9

By Alan Pentico, CAE

PRESIDENT: Don Smeallie, Jr.

REGIONAL LEGISLATIVE UPDATE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

PRODUCTION DIRECTOR: Travis Watson production@aptnewsinc.com

MEMBER SPOTLIGHT: LINDSEY BOOTHBY, CALP, WINTERCREST VILLAGE. . . . . . . . . . . 19

CREATIVE DIRECTOR: Sean Buur sean@aptnewsinc.com

HOW CALIFORNIA TAXPAYERS HAVE WEATHERED THE PANDEMIC . . . . . . . . . . . . . . . . . 21

OFFICE ADMINISTRATOR: Jessica Smith admin@aptnewsinc.com

By Jon Coupal

Are you moving or having trouble receiving your magazines? We want to solve it! 4 WAYS TO STRENGTHEN VENDOR RELATIONSHIPS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Email us: admin@aptnewsinc.com

By Brittany Benz

FEATURED COLUMNS:

QUESTIONS & ANSWERS WITH KIMBALL, TIREY & ST. JOHN, LLP. . . . . . . . . . . . . . . . . . . 32 By Kimball, Tirey & St. John LLP

A THREE-PHASE GUIDE TO IMPLEMENTING UTILITY BILLING. . . . . . . . . . . . . . . . . . . . . . . 37

4 Ways to Strengthen Vendor Relationships By: Brittany Benz

Pg. 29

By Livable

THE POLITICS OF A HOUSING CRISIS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 By Roderick Wright

DIVERSIFY YOUR REAL ESTATE PORTFOLIO WITH PARTIAL INTEREST PROPERTIES. . . 48 By Christopher Miller

BE PREPARED: MAINTENANCE OF FIRE AND LIFE SAFETY. . . . . . . . . . . . . . . . . . . . . . . . . 53 By Steve Goyette

BUSINESS DIRECTORY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57

The Politics of a Housing Crisis SUPPLIER DIRECTORY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 By: Roderick Wright

Pg. 47

ADVERTISING DIRECTORY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64

Apartment Management Magazine is published monthly by Apartment News Publications, Inc. at 15502 Graham Street, Huntington Beach, CA 92649. Subscription Rate: $20.00/ year with zip codes beginning with 900-935, (outside of L.A. & Orange counties $69.00/year.). The publisher and Apartment News Publications Inc. assume no responsibility for opinions expressed in articles appearing under an author's name. The contents of this publication may not be reproduced without written permission from the publisher. Bulk rate postage is paid at Bell Post Office BMC, 5555 Bandini, Bell, CA 90201.

For Advertising Information: 1-800-931-6666 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

2022 OFFICERS

President Lucinda Lilley, FBS Property, AMO President Elect Abigail Rex, American Assets Trust, Inc. Vice President Todd Henderson, Independent Owner

MAGAZINE STAFF Publisher Apartment News Publications, Inc. Design & Layout Travis Watson, Production Director Editorial Review Lindsey Lee, Marketing Coordinator

Secretary Shannon Kelly, Independent Owner

ASSOCIATION STAFF

Treasurer Aiesha Blevins, Greystar Legislative Chair Greystar Immediate Past President Kendra Bork, Cambridge Management Group, Inc.

2022 DIRECTORS

Angela Mallory, Greystar (Board Advisor) Buck Buchanan, Independent Owner Jay Lopeman, BG Multifamily Jennifer Ford, Douglas Allred Company John LaRaia, HG Fenton Mark Feinberg, Heinz & Feinberg Matt Ruane, Liberty Military Housing Melissa Wickerd, Natasha Howell, Millcreek, WTS Trust Scott Ledesma, Generation Contracting & Emergency Services Inc. Tom Tamar, Independent Owner

Alan Pentico, CAE, Executive Director apentico@socalrha.org 858.278.8070 Olivia Galvez, Director of Business Operations/Operational Advice ogalvez@socalrha.org 858.751.2217 Molly Kirkland, mkirkland@socalrha.org 858.751.2200 Kim Zebroski, kzebroski@socalrha.org 858.751.2220 Lorna R. Kindred, Education Manager lkindred@socalrha.org 858.751.2219 Mike Nagy, mnagy@socalrha.org 858.751.2214 Lindsey Lee, Marketing Coordinator llee@socalrha.org 858.751.2218 Alma Macias, Operational Advisor amacias@socalrha.org 858.278.8070

HONORARY LIFE ADVISOR G. Wesley Harker

Southern California Rental Housing Association Rental Advisor Magazine is published by the San Diego Multi-Housing Corporation (SDMHC) a wholly owned subsidiary of the Southern the author's views and do not necessarily represent those of the Southern California Rental Housing Association or SDMHC. All rights reserved. Materials may not be reproduced or translated without prior written permission by the publisher. Contact the Southern California Rental Housing Association at 858.278.8070 or visit socalrha.org for more information. Advertising - We do not guarantee or endorse the products or services of any of the advertisers, but and respect for one another. Information provided in the advertisements are the sole responsibility of the advertiser. For concerns please contact the advertiser directly.

Our Address

Southern California Rental Housing Association Toll Free: 888.762.7313 Fax: 888.871.5229 socalrha.org

CONTRIBUTE: Educational articles in Rental Advisor

Magazine must be between 500-800

the 10th of the month before publication. Submit to socalrha@aptnewsinc.com.

ADVERTISE: Contact the team at Apartment News Publications, Inc. at 714-893-3971

or email scrha@aptnewsinc.com for advertising information, including rates, production

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Lucinda Lilley 2022 President Southern California Rental Housing Association

Focus on the Future

ow that Apartmentalize has wrapped up, it’s time to take a deep breath and prepare for the second half of the year. Incredibly, we are now in the third quarter of 2022 and halfway through my second term as President of the Southern California Rental Housing Association. I’m so thankful I have the honor to work with my colleagues on the Board during this time of opportunity. As you know, housing providers in Southern California have long faced challenges as government officials work to alleviate the housing crisis with regulations. We’ve seen all too often that this approach leaves out the voices of actual stakeholders or only tells one side of the story. I don’t know about you, but I’m ready for our voice to be heard, and I’m ready to share our contributions and perspective with everyone. If we address the real issues facing our communities, all voices need to be heard, and we need to ensure that we have a seat at the table. After introspection and discussion with the Board of Directors, we believe that it’s no longer enough to have a seat at the table.

We see that it is our duty to set the table and invite the community to work with us to address the pressing concerns affecting all of us. Our new strategic plan outlines our direction as an Association to represent our industry. This ambitious plan will need your support as we work to bring it to life. If you haven’t volunteered yet, now is a wonderful time to volunteer your efforts to the Association. There are many ways for you to contribute to the Association in a way that fits your schedule and keeps you engaged with a worthy cause. One of the best ways to get involved, build relationships with colleagues, and influence the direction of the Association is by joining a committee. Our committee volunteers help decide everything from the education classes we offer to the details of our events and positions on legislative issues. While we work towards building a bigger table to accommodate community stakeholders, we want to make sure that our members are seated at the table with us. Please accept our invitation and share your time and talents as we work together to create a thriving rental housing community through advocacy, education, and collaboration.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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Thank You to Our Association Wide Sponsors

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Silver Sponsors

Event Sponsors

Bronze Sponsor

Alan Pentico, CAE Executive Director Southern California Rental Housing Association

New Look, Same Focus!

’m sure you’ve noticed by now, but the magazine has a new look. Welcome to the new monthly publication of Southern California Rental Housing Association, brought to you by the publishers of Apartment Management Magazine. As with anything we do, the needs of our members come first. This change will help us bring a wide array of relevant content to our members each month.

While the look has changed, the quality of the content and the focus on publishing timely legislative updates and operational content has not. Please keep reading to find all the favorites, including our local legislative update, honor roll celebrating members of 10 or more years, and new content about everything from maintenance tips and legal questions to investment strategies. Additionally, the magazine is available online at socalrha.org and will arrive in your email inboxes each month. Whether you prefer the print version or read online, we take pride in publishing content that will help you and your team provide quality rental housing. STAY IN THE KNOW As you know, rental housing providers face many challenges in Southern California, and we strive to provide you with timely alerts and critical updates. We want to keep you in the know, but we need your help. Please take a few minutes to log in to your Member Compass at socalrha.org and review your contact information. Update your email, phone number, and address. Everyone on your team should create a profile with a unique email address. This step will help ensure that you, and each member of your team, can access your member benefit while receiving essential updates that impact your business operations. Each person

will set their own login to access all member benefits, especially to qualify for member pricing on education classes and events. Give your team access to the full power of our resources to get the full value out of your investment. EDUCATION PACKAGES ARE HERE Another exciting new announcement is that SCRHA now offers Education Packages for individuals and companies. Our education packages make it simple for you to streamline the registration process for you and your team. These cost-effective packages include a lower rate per class than if classes are purchased individually. As an added bonus, many of these classes count towards continuing education credits (CECs) needed for credential renewals. In addition to Education Packages, we are rolling out new search filters for our Education and Events calendars. These new filters will help you search for classes by category, which will be helpful, especially when registering for classes as part of your Education Package. I know this month’s message included a lot of updates, and that will probably be the new normal as we enter the third quarter of 2022 and start planning for next year. Our Board adopted a bold new vision and mission statement, and we need all hands-on deck. If you haven’t already, please let us know how you can share your time and talents with the Association as we work to provide quality housing for all. Your SCRHA membership gives you access to expert information and industry insights. Login to your Member Compass at scrha.org to access the complete survey. Not a member? Join today to access this comprehensive report on vacancy and rental rates throughout San Diego County. SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

REGIONAL

LEGISLATIVEUPDATE

Metropolitan Water District issues water restrictions for several Southern California counties as State’s Water Board elevates drought level status

ast month, the Metropolitan Water District (MWD) of Southern California Board of Directors approved new water use restrictions on Los Angeles, San Bernardino, and Ventura counties beginning June 1. California’s State Water Control Resources Board (SWRCB), the state’s lead water agency, voted to increase the drought level among all local water agencies due to the California’s severe drought. MWD’s decision comes in response to California’s severe multi-year drought, and the announcement that the state water project will supply regional water agencies with significantly less water for the coming year. MWD will receive only 5 percent of water it typically receives from the state water project. Metropolitan Water District (MWD) requested local water agencies to voluntary reduce their water usage by 20 percent earlier this year but of those agencies were unable to achieve the voluntary cutbacks. MWD

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

represents 26 local water agencies in Los Angeles, Riverside, San Bernardino, San Diego, and Ventura counties including the San Diego County Water Authority, Eastern and Western Water Municipal Districts. The Desert Water Agency (DWA), Coachella Valley Water District (CVWD), and Imperial County’s Imperial Irrigation District (IID) are separate entities from MWD and receive their water independently from the state water project and the Colorado River. DWA, CVWD, and IID have not indicated if they plan to impose similar restrictions on their local districts at the time this article was written. Under MWD’s order, regional and local water agencies must enact new water restrictions. Water agencies and districts will have the option to set their restrictions to overall usage or daily usage limits, but districts that fail to reduce the amount of water used could face penalties of $2,000 per acre-foot from the MWD and the state. Please turn to page

dennisblock

San Diego (38428)

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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Water customers in Los Angeles, San Bernardino, and Ventura counties will be required to significantly reduce their usage including the requirement they limit their outdoor irrigation to one or two days a week or leave their lawns yellow or brown. Some water districts are requiring their customers to reduce their daily water use by 30-50 percent. Local water districts will receive additional money to promote their water efficiency and conservation programs such as turf replacement and refitting homes and businesses with low flow plumbing fixtures. MWD’s order does not apply to Riverside and San Diego counties. Riverside and San Diego water agency officials state their water supplies will remain unaffected through 2022 due to their ongoing efforts to improve local water supply. However, California’s State Water Resources Control Board (SWCRB) voted on May 24 to elevate the state’s Drought Level to Stage 2 which took effect on June 10. Under Drought Level Stage 2, local water agencies will receive 20% percent less water. San Diego and other local water officials fear if customers must use less water there will be less revenue and agencies may need to increase rates to pay for infrastructure or for new projects like San Diego City’s $5 billion advanced water purification project called Pure Water. Under Stage 2, commercial, industrial, and government buildings are prohibited from watering their decorative grass; golf courses, recreation parks and sports fields are exempt from the rule for now. Other rules include limiting residences to water their landscapes to no more than 3 days a week. SCRHA members can refer to the SCRHA’s ‘Water Conservation Packets’ located on the SCRHA White Papers webpage for more information about water saving tips and links to local water agency websites. Members should also contact their respective water agency for information on water rebate programs and current water rules already in place. Members can visit MWD’s bewaterwise.com, or visit San Diego County Water Authority’s https://www.sdcwa.org/do-yourpart-to-stay-watersmart/ for additional information. SDG&E’S PROPOSED RATE INCREASE WOULD INCREASE COST OF ELECTRICITY AND NATURAL GAS San Diego Gas & Electric (SDG&E) submitted its General Rate Case plan to the California Public Utilities Commission (CPUC) last May. The new plan proposes increases in electricity and natural gas rates on all SDG&E customers. The new rates would take effect 12

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

beginning in 2024 and last through 2027 if approved by the CPUC. Under CA regulations, Investor-Owned Utilities (IOU) s must file and have their rate cases approved with the CPUC before the utilities can change their rates. IOUs must file their rate cases with the CPUC every four years. Like Cost-of-Service Studies filed by city and county agencies to explain why rates for services like water and waste must be adjusted, General Rate Cases are lengthy reports forecasting what it would cost the utility to maintain and enhance its ability to supply power to its service territory over a specific time period. The CPUC reviews the rate cases to determine if the rates balance the revenue needs of the utility and are acceptable to their ratepayers. During the review process, ratepayers can provide feedback on the rate case proposal. Ultimately, the CPUC will decide if it will adopt or reject the plan in its current form or make changes to the utility’s proposed plan. SDG&E’s newest rate case contends that electricity and natural gas rates must be increase meet the state’s newest safety regulations and climate change laws. SDG&E says proposed natural gas rate increase is necessary help prevent the escape of methane gas from its natural gas infrastructure. Under the proposed plan, the average residential customer would see their monthly electric bill increase by $9, or 5.6%, and customers using natural gas would see their monthly rate increase by $9.60, or 18.1% compared to 2023 rates. Ratepayers and organizations can submit their feedback to the CPUC while its commissioners review the plan. CPUC Commissioners are expected to make its decision on the rate case next year. Members can review SDG&E’s proposed 2024 General Rate Case here and other documents here, https://www.sdge. com/sdge-2024-general-rate-case. Members can contact the CPUC at 866.849.8390, email public.advisor@cpuc.ca.gov or visit https:// www.cpuc.ca.gov/about-cpuc/contacting-the-puc for information about submitting comments to the CPUC. SAN DIEGO MOVES FORWARD WITH IMPLEMENTING ITS SHORT-TERM RENTAL ORDINANCE The San Diego City Council in May adopted several amendments to its short-term vacation rental ordinance Please turn to page

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Continued from page

which take effect next spring. The amendments include limiting the total number of short-term rentals permitted that can operate in the city. In response from the California Coastal Commission’s (CCC) formal request, the City Council approved several amendments to its already approved vacation rental ordinance. The Coastal Commission will consider the amendments for approval, and if approved, the amended ordinance takes effect in Spring 2023. The city must conduct a lottery to determine which operators will be issued a short-term vacation permit; the lottery is expected to happen by end of this year. San Diego will issue a total of 6,500 permits through the lottery process, there are an estimated 12,300 short-term rentals operating in San Diego currently. A specific number of permits will be allotted to each community with exception to the Mission Beach Community which will receive 1,100 permits. There is no cap on licenses for short-term rentals operating for 19 or fewer days per year or if the rental is used for home-sharing operations or if the host is present when renting out a room or two. Short-term rental licenses are good for two years. Through the lottery process, priority will be given to persons who have had their rental for longer, been

paying transient occupancy taxes to the city, and do not have any code violations for the past two years. Under the ordinance, the cost of the license is $100 for properties that home share or operate 20 or fewer days a year plus an application fee of $25. The license is $1,000 for entire rentals that are rented out for 20 days or more a year, plus an application fee of $70. The fees collected from the rentals will help fund the administration and enforcement. Under the ordinance, operators may apply only for one short-term rental license per rental property if the entire residence is rented out for 20 or more days per year; renters will be required to stay a minimum of two-night stays per visit. The operators granted the licenses cannot transfer them to another property. At the request of the Coastal Commission, San Diego will be asked to review and reassess the what the impacts of short-term rental ordinance on preserving the public’s access to ocean beaches in seven years Members can read more about the city’s ordinance here or contact the city if they have questions, https:// www.sandiego.gov/treasurer/short-term-residentialoccupancy. Please turn to page

kennedyelectric

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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RIVERSIDE SUPERVISORS APPROVE TRASH FEE INCREASE FOR UNINCORPORATED AREAS

On May 10, the Riverside County Board of Supervisors approved an increase in trash collection fees for the unincorporated communities by a 4-1 vote. The waste haulers currently contracting with the County: Burrtec Waste, CR&R Inc., Desert Valley Disposal and Waste Management Inc., requested the across-the-board fee increase to compensate for cost increases in providing service and to adhere to the state’s recycling laws. The increase will affect communities such as Bermuda Dunes, Cabazon, Desert Center, East Hemet, French Valley, Lakeland Village, Nuevo, Thermal, Thousand Palms and Winchester. The haulers say the fee increase is necessary due to rising inflation and operating costs and meet state requirements on methane gas (SB 1383). Federal data showed consumer prices rose 8.6% in the Riverside County region between January 2021 and January 2022. SB 1383, which went into effect on January 1, requires local governments and waste haulers implement programs to recycle more food and other organic waste, limit/prevent the escape of methane gas and divert up to 75% of organic waste from landfills by 2025. Monthly trash service for residential customers will increase 8%. Burrtec Waste’s rate will increase from average $26.60 to $28.07. CR&R residential service will increase between $27.37 and $39.34/month, to between $29.64 and $42.65/month. Desert Valley Disposal customers see their fees increase from $27.49 to $29.52, and Waste Management’s rate will increase from between $23.36 and $26.16/month, to between $25.37 and $28.41/month. The fee increase takes effect July 1, 2022. CATHEDRAL CITY’S NEW HOUSING ELEMENT WILL ADD 2,500 HOMES OVER NEXT EIGHT YEARS In late May, the Cathedral City Council approved a new housing element as part of a state’s Regional Housing Need Assessment (RHNA), sixth housing cycle, 20212029. The RHNA process determines how many new residential units all cities and counties must plan for to meet their present and future population growth. Each city and county must determine where the new units could be built to the appropriate income level. During the previous housing cycles, Cathedral City was responsible for planning for 600 new units for the 5th cycle and 3,329 new units for the 4th cycle. 16

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

The city will be responsible for planning for 2,549 new units by 2029. In addition, the city is responsible for building a certain number of new units for low-, lower-, and moderate-income households. The city’s housing element has determined 15 potential sites to accommodate those new units. The city’s housing element must be submitted to CA’s Department of Housing and Community Development (HCD) for review. If Cathedral City’s housing element is approved as is, then the city may move forward with its plans to plan and build housing on those identified sites. ENCINITAS GREEN BUILDING ORDINANCE IS NOW IN EFFECT In October 2021, the Encinitas City Council adopted a Green Building Ordinance. The ordinance applies to new residential and non-residential buildings, such as commercial, hotels, multi-family taller than 3 stories, that meet the ordinance and that need to apply for a building permit. The ordinance requires electricity be the only source of power for powering appliances, heating and air-conditioning for most new residential and nonresidential buildings; natural gas systems are no longer allowed in new construction or substantial remodels. Residential additions and alterations with a permit value of $50,000 or more must install certain energy efficiency upgrades. Existing non-residential buildings adding 1,000 square feet or having a permit value of $200,000 or more must install certain energy efficiency updates. All new non-residential and existing nonresidential additions that increase the total roof area by at least 1,000 square feet or alterations with a permit value of at least $1,000,000 that affect at least 75% of the gross floor area are required to install solar photovoltaic equipment to power the building. Encinitas submitted its ordinance to the California Energy Commission (CEC) for approval earlier this year. CEC approved the ordinance on May 24 and granted the city permission to implement its ordinance. Members can visit Encinitas’ Green Building Ordinance webpage for more information, https://encinitasca.gov/Government/Departments/ City-Manager/Environmental-Services/ClimateAction-Plan/Green-Building-Ordinances, or email the city’s Sustainability Manager at cnajera@encinitasca. gov.

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To learn more, visit 1031CapitalSolutions.com or call us at (800) 445-5908 DST 1031 properties are only available to accredited investors (typically defined as having a $1 million net worth excluding primary residence or $200,000 income individually/$300,000 jointly of the last three years; or have an active Series 7, Series 82, or Series 65. Individuals holding a Series 66 do not fall under this definition) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney. This is for informational purposes only, does not constitute as individual investment advice, and should not be relied upon as tax or legal advice. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax concepts, therefore you should consult your legal or tax professional regarding the specifics of your particular situation. Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated. Diversification does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk. Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory services offered through Concorde Asset Management, LLC (CAM), an SEC registered investment advisor. 1031 Capital Solutions is independent of CIS, CAM and CIA.

April 2022- socalrha.org 17 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION SCHRA.ORG | 17

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Lindsey Boothby, CALP, Wintercrest Village Lindsey recently earned her desgination as a Certified Apartment Leasing Professional at Southern California Rental Housing Association. Congratulations to Lindsey on this accomplishment.

With a lot of the topics we discussed, the instructors encouraged group conversations. I found it interesting to be able to hear about everyone’s personal experiences in the field.

TELL US ABOUT HOW YOU STARTED WORKING IN THE MULTI-HOUSING INDUSTRY? WHAT MOTIVATED YOU?

Also, the instructors offered a lot of tips, which I have been implementing in my job.

After around two years of being a resident here, management brought the job opening to my attention. I came in to talk to them about the leasing job and I felt that it would be a great fit for me. At the time, I was working as a waitress, but I was looking for a sales job. My degree is in Marketing Communications and Sales, so this job has been a great way to utilize the skills I gained during college. What continues to motivate me is how rewarding the job is. I really value the relationships that I’ve built with residents here during the process of finding them a new home. HOW LONG HAVE YOU BEEN IN THE LEASING? I have been the Leasing Consultant for almost two years now. WHAT MADE YOU DECIDE TO GET YOUR CREDENTIAL? I decided to get my credential because I knew it would be a good way to learn more about the leasing industry. Also, that it would be a good opportunity to hear advice from other leasing professionals. WHAT WAS THE EXPERIENCE LIKE? I enjoyed the way that the instructors led the courses.

WHAT WAS THE EXAM LIKE? The test prep materials that were provided helped me a lot while studying for the exam. During the exam I took my time while reading and answering the questions. The exam is timed, but I found that there was enough time to re-read questions if I was uncertain about what exactly was being asked. WOULD YOU ADVISE CO-WORKERS/ COLLEAGUES TO GET THE CALP? Yes, definitely! I think that the courses would be beneficial to anyone in the field. Things are always changing in this industry, and hearing from professionals in leasing is a good way to stay current. WHAT ADVICE WOULD YOU GIVE SOMEONE WHO WANTS TO GET THEIR CREDENTIAL? I would recommend taking notes of anything that you found interesting or that you would like to remember. The courses go over a lot of information over a short time, so taking notes is a good way to remember details or ideas that you could apply at your property. I would also recommend printing off the course materials if you’re able to. I’m the type of person who likes to have hard copies of things and take notes with pen and paper. I found it easier to navigate the materials after printing them out.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

Boost your knowledge, skills, and confidence! Certified Apartment Manager WE RECOMMEND THIS COURSE for community managers and experienced assistant managers. Earning your CAM credential allows you to demonstrate that you have the knowledge and ability to manage an apartment community and achieve the owner’s investment goals. The CAM credential positions you well for career opportunities and advancement.

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For more information, visit www.naahq.org/CAM. To locate an affiliate offering this course near you, visit www.naahq.org/education-careers/find-a-course.

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

April 2022 socalrha.org | 47

How California Taxpayers Have Weathered the Pandemic

By Jon Coupal, Howard Jarvis Taxpayers Association hile few Californians weathered the pandemic unscathed, taxpayers took a particularly heavy hit, getting stuck for the long-term cost of relief payments, bailouts and fraud while losing earnings during the “two weeks to flatten the curve” that turned into two years. If we had known in early 2020 what we now know, it is doubtful we would have shut down the economy as tightly as we did, and we certainly would have taken greater caution about our response to school closures and educating our children. Only now are we starting to comprehend that damage to child development, socialization and learning. Taxpayers also took a hit by having to pay taxes and

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fees for services not received. Local governments required restaurants to continue to pay various licensing fees even when they were forbidden to be open for business. Parks, libraries, and other public venues were closed to the public while citizens continued to get the tax bill to support those same facilities. Efforts by taxpayers and businesses to seek temporary relief from government exactions were mostly met with open hostility, while members of public-sector unions continued to receive paychecks and, in some cases, got raises even when they weren’t going to work. But by far the biggest hit on California taxpayers during the pandemic was the jaw-dropping levels of waste, fraud, and abuse of taxpayer dollars. On Governor Gavin Newsom’s watch, the Employment Development Department (EDD) failed to process Please turn to page

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a backlog of claims for hundreds of thousands of unemployed Californians while sending out as much as $30 billion in unemployment benefits for phony claims, including fraudulent claims paid to death row inmates. What is particularly galling about the EDD fraud is that the state had plenty of warning. In May 2020, the United States Secret Service alerted EDD that organized criminals were exploiting weaknesses in their systems to steal taxpayer monies. But nothing was done. Then there is the scandal of costly no-bid contracts, including one for nearly $1 billion with a China-based firm for N95 masks that even a senior Democratic lawmaker called “murky.” The state’s handling of public funds during the pandemic was the subject of a “High Risk Audit Report” last August by then-state auditor, Elaine Howle. The report concluded that billions of dollars were wasted by giving money to people who were not entitled to receive the funds, while many people who needed relief from the pandemic were not getting it. “Because a significant amount of the federal COVID-19 funding was directed at federal programs that provide assistance to individuals who are not working or

have low incomes, failure by the departments that implement these programs to engage in adequate outreach efforts could have left Californians without medical care or money to pay for housing and food for themselves and their families,” the state auditor’s report stated. “Furthermore, departments have faced significant hurdles in managing federal COVID-19 funds, such as monitoring subrecipients or vendors, creating a high risk for inefficiencies and waste.” The list of harms inflicted on taxpayers discussed above is by no means exhaustive. For example, at the federal level an argument could well be made that the trillions in “COVID relief” spending — much of which was pure pork — have given us the record high inflation we have today. Inflation hits middle- and low-income individuals the hardest, raising the cost of goods and services and devaluing every dollar that has been saved. Inflation is the worst taxpayer rip-off of all! Jon Coupal is President of the Howard Jarvis Taxpayers Association. The opinions expressed in this article are those of its author and not necessarily those of the Apartment Association of Greater Los Angeles. This article is being reprinted with permission from the Howard Jarvis Taxpayer Association and the author.

Voices of the Industry

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

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Preferred Partners As a member of Southern California Rental Housing Association, you have access to discounts on the products and services provided by our Preferred Partners. Visit socalrha.org/preferred-partners for details!

socalrha.org 24

MAY JULY 2022 2022 -- APARTMENT APARTMENTMANAGEMENT MANAGEMENTMAGAZINE MAGAZINEAMM7 AMM7

CELEBRATING

Beverly J. Gimbel Leona Edblom Company Mike Haas Company Frederic and Karen Wise Leslie and Rita Clarke Mission Heights Ltd Vladimir Nicolayeff Company Case & Crosby Investments Thomas Eklund Company Jesse and Maria Beltran McDonnell Property Bob Woodard Company Harriet Bossenbroek Company Park Haven Apartments George and Connie Rawlins MG Properties Frank Steffen Company Bayshore Properties Hanken, Cono, Assad & Co. Judy Quint Company MPA Management Fergin Properties Kornfeld and Levy, Certified Public Accountants La Jollan Townhomes| Murray LLC Willin Properties Gary and Judy Smith Dutch and Margaret Swagemakers Thomas Geantil Company All Points Real Estate Scefs Associates A & R Investments Sprague Pallas & Assoc. Jeff Lewis Company Larry O'Dell Construction San Diego Housing Commission

1973 1973 1975 1975 1976 1977 1978 1979 1980 1982 1984 1984 1985 1985 1986 1986 1987 1987 1989 1990 1991 1991 1992 1993 1994 1994 1995 1996 1996 1997 1997 1997 1997 1997 1997

an an ANNIVERSARY ANNIVERSARY This This Month Month

10+ 10+ years years of of membership membership BF Investments, Inc. DaSilveira Family Trust Park Place Management Linda Webster Company Mercer Investments, Inc. Horizon Properties Management Service Gulotta Properties Melroy Asset Management William D. Snell Company MNSD, LLC Paul and Suzanne Honeycutt Kastoria, LLC| Leaf & Cole, LLP Attar Enterprises Darlene Lubkay Company Darren and Jan Magot Perry and Felecia Vlahos Robert Bayer Company David & Doreen Clifton Roberta Litvinoff Company James Naill Company Phillip Tran Company Holy Cross Cemetery Elisabeth Wolcott-Yuen Company David Zernik Company Rose Marie Hadley Company Louis Greco Company Katherine Packard Company Michael Bart Company Delta Property Management Dwayne Watson Company Jim Stjerne Company Opti-Fit John Peters Company O'Neil Enterprises Christine Whitacre Company

1998 1998 1998 1999 2000 2000 2000 2000 2000 2000 2002 2002 2002 2004 2004 2006 2006 2006 2006 2006 2008 2008 2009 2009 2009 2009 2010 2010 2010 2011 2011 2012 2012 2012 2012

account, or were taken under new ownership, the member will not appear here. If you feel that your membership should be in this list and is not, please account, or were taken under new ownership, the member will not appear here. If you feel that your membership should be in this list and is not, please contact the publications department at publications@socalrha.org account, or were taken under new ownership, the member will not appear here. If you feel that your membership should be in this list and is not, please contact the publications department at publications@socalrha.org contact the publications department at publications@socalrha.org SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG 25

CALENDAR Register at socalrha.org Register for events and classes online at socalrha.org. Please note, that all in-person classes Questions? Contact us at events@socalrha.org or 858.278.8070.

July 7

11:30A - 2:00P

Legislative Update Luncheon

ICON KEY

July 13

3:30P - 5:00P

SCRHA Member Orientation

July 12

10:00A - 11:00A

IROC: Serving Notices

12:00P - 1:00P

AB 721 - New Balcony Law Requires Inspection & Repairs

Speaker: Optimum Seismic July 26, 2022 Inspections of balconies and other “exterior elevated elements” on multifamily buildings are now required by California law. Join us for an informative class to learn about AB 721 and the required inspections ICON due KEY by 2025. 26

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

8:00A - 5:00P

Advanced HVAC Electrical

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Featured

July 11

July 21

10:00A - 11:00A

Solution Series: Small Claims Court

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August 10

10:00A - 11:00A

The Journey Home Mapping Out the Prospect & Resident Experience

Instructors: Melissa DeCicco, Satisfacts Resident experience and reputation are the new, intangible amenities for apartment communities. In this session, we will venture into new territory and explore best practices for engagement and connection for both prospect and resident satisfaction. We will map out what has changed in renter preferences and how to get the most mileage out of your efforts to winICON the KEY experience journey and set you apart from your competition.

Featured

9:30A - 3:00P

Innovations in Rental Housing

Education Conference & EXPO September 7, 2022 With more than 100 exhibitors and six seminars included in the tradeshow admission, the SCRHA Innovations in Rental Housing Education Conference and EXPO brings you the latest trends in the industry while providing solutions to all your maintenance and ICON KEY management needs.

Save Your Seat!

SCHOLARSHIP PROGRAM Support leaders in rental housing by contributing to our Rental Housing Scholarship program. Your donation to the Rental Housing Scholarship is an investment in the future of our industry. DONATE AT SOCALRHA.ORG SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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Although our fiber service usually means 100% fiber-optic network to your residence, in limited circumstances Quantum Fiber may need to deploy alternative technologies coupled with a non-fiber connection from a certain point (usually the curb) to your residence in order to provide the advertised download speeds. Service is not available everywhere. Quantum Fiber may change, cancel, or substitute offers and services, or vary them by service area, at its sole discretion without notice. All products and services listed are governed by tariffs, terms of service, or terms and conditions posted at www.q.com/legal. Restrictions apply. © 2022 Q Fiber, LLC. All Rights Reserved. Quantum, Quantum Fiber and Quantum Fiber Internet are trademarks of Quantum Wireless LLC and used under license to Q Fiber, LLC. 2428 | Southern California Rental Housing Association Rental Advisor April 2022 JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

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4 WAYS TO STRENGTHEN VENDOR RELATIONSHIPS

By Brittany Benz

aving solid relationships with your residents and owners is key to your success as a property manager, but did you know it is also critical when it comes to your vendors?

When you think of vendors, your relationship might not be the first thing that comes to mind, but it should be. Why? Because having vendors who respond promptly and resolve maintenance problems efficiently will ensure happy renters and owners. However, in today’s tight labor market, finding quality vendors who have the staff on hand to respond to your maintenance needs can be challenging. The labor shortage in skilled tradespeople is still ongoing, with approximately 77% of tradespeople agreeing there are insufficient hands to go around, according to a 2021 Angi Skilled Trades Report. This means building relationships with vendors is more critical now than ever before.

For example, a vendor arriving at the job site to find that they need a specialized tool that’s back at the shop will leave them frustrated, slow the work down, and create extra work for everyone. Here are a few strategies that will help you be an excellent communicator: • Over-communicate key details regularly. It only takes a few moments to add extra information, but this precaution can help to prevent miscommunication. Get into the habit of being overly detailed. • Set expectations on how and when you want the work to be completed up front. Include a detailed written statement along with your verbal instructions so the vendor has something to refer to if they forget. • Offer digital ways to communicate, including text, email, or your very own vendor portal.

How do you build (and maintain) strong working relationships with your vendors that will save you time, money, and frustration? Read on to find out.

• Hold weekly Zoom meetings with your vendors to monitor progress or check-ins to build rapport.

1.) BE AN EXCELLENT COMMUNICATOR

• For new vendors or those you haven’t worked with in a while, schedule a walkthrough of your properties and highlight the nuances and needs of each location. Ask for their recommendations and take notes.

Poor communication causes errors that make you and your vendor lose credibility. Missed deadlines, confusion, and a myriad of issues all stem from a gap in information caused by a lack of clear communication.

Please turn to page

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5/3/2022 12:40:57 PM

Continued from page

• Ask for their feedback about what is or is not working. This will improve two-way communication and help you uncover hidden inefficiencies in your processes.

Utilize an online payment system to ensure nothing falls through the cracks. Monthly vendor statements from accounting should be on your to-do list. Keeping their financial well-being in mind shows them that you are working on their behalf and builds trust.

• Use the same communication skills you already deploy with your residents and owners with your vendors. 2.) RECOGNIZE THEIR EFFORTS Just as you realize there is a need for recognition for jobs well done by your team members, recognize that vendors are also part of your team and need your support just as much or more so. When a vendor feels recognized and appreciated for their hard work, they are more likely to continue to do top-quality work for your business. • Show physical appreciation (hand-written thank you notes, gifts for “above and beyond” service, or a monthly fruit or cookie delivery).

Additionally, file your 1099s on time. Using property management software with built-in accounting tools like AppFolio Property Manager makes it simple to automate accounting processes and reduces errors and late payments. 4.) OFFER DIGITAL TOOLS TO STREAMLINE WORK In today’s world, there is a good chance your vendors are already using technology. According to the 2021 Angi Skilled Trades Report: • 21% of tradespeople adopted third-party financing tools • 39% added digital tools to generate quotes • 47% added digital payment solutions

• Host a vendor appreciation event where everyone can network and spend time building relationships.

Make life easier on your vendors by providing the on-demand digital tools they want and expect. When you use digital tools for work orders, invoices, and communication, you can streamline processes and save time and money all around.

• Provide referrals. This is a crucial way to show your vendors their continued success is important to you. Remember to first get permission from those you refer.

Using a tool like AppFolio Smart Maintenance can instantly optimize your operations. Smart Maintenance uses automation to intake maintenance requests from residents and convert them into work orders, which are dispatched to pre-approved vendors so you’re not switching between systems to send out requests or going back and forth making phone calls. This feature also works around the clock, so you can better serve your residents — no matter the time of day or night.

• Introduce your vendors to your residents and owners as members of your team, and treat them with the same respect you expect to receive. • Actively work with your vendors to get them to the much-coveted status of “pre-approved vendor.” 3.) PAY THEM ON TIME Nothing speaks louder to vendors than on-time payments. Late payments will quickly erode your vendor relationships. Pay them promptly as work is completed, and remember to include a hand-written note that compliments their work and communicates that they are a valued member of your team.

YOUR VENDOR RELATIONSHIPS MATTER Making your vendors feel like a part of your team and providing them with the digital tools they need to succeed will strengthen your relationships. Stronger relationships often lead to improved work quality, and efficient work often leads to happier residents and owners.

Founded in 2006, AppFolio is a company that offers powerful cloud‑based property management software that property managers use to get their work done from anywhere, maintaining business continuity and keeping connected to their teams and customers. AppFolio is a different kind of property management software, and the company is laser-focused on its customers and their success. AppFolio works tirelessly to develop intuitive technology that really works. Explore why AppFolio is the last property management software you’ll ever need. For more information, go to: https://www.appfolio.com/. SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

Questions &Answers with Kimball, Tirey & St. John LLP

Q A

uestion: Can residents sit outside their front door and drink beer or smoke cigarettes? Other residents are complaining.

nswer : If the outside portion where they

are drinking beer or smoking is part of the common area of the premises, you can restrict that activity so as long as it is restricted for all residents. If it is part of their rented space, you cannot, unless they are causing unreasonable disturbances to other residents.

Q A

uestion: I purchased a rental property two

years ago and the security deposits need to be increased. Most of the deposits are $1,000 and need to be increased to $1,800. What is the best way to do this?

nswer : If they are on a month-to-month

agreement, you can serve a thirty (30)-day notice changing the terms of the tenancy to increase the deposit amount. You can charge up to twice the amount of the monthly rent if the unit is unfurnished. If the tenant is a member of the military the limit is one month for an unfurnished unit. Be cautious of rent control jurisdictions that may have other limits on the deposits.

uestion: Who is responsible for the expense

of carpet cleaning and painting when a tenant vacates a unit? Is its lawful to pass on this expense to the departing tenant?

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

nswer : Under California law, the carpet must be left in the same clean condition it was when the tenant first moved in. Any necessary cleaning is the tenant’s responsibility, and the cost may be deducted from their security deposit. Painting may also be charged to the departing tenant if the need to paint arose out of extraordinary wear and tear while the tenant occupied the apartment.

uestion: We rented to three roommates who

all moved in at the same time. One moved out a couple of months ago and the other two moved out last month. All three were on the rental agreement and one is demanding that we give the entire deposit refund to him because he was the one who paid it. What should we do?

nswer: Either require the roommate to produce a written, notarized statement from the other two roommates granting their permission and consent or give him a check with all three names as the payee.

Q A

uestion : I served a three (3)-day notice

to pay rent or quit to one of our tenants. I received a partial payment within the threeday period. Do I have to serve another notice for the remainder of the rent or is the notice still good?

nswer : Under California law, a residential landlord who accepts partial payment of rent demanded on a three-day notice is required Please turn to page

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to serve a new notice for the balance owed. If you wish to proceed with eviction, you should not accept a partial payment.

Q A

uestion: How do we get rid of tenants who have filthy units? They always pay on time.

nswer: If the condition of a residential tenant’s apartment unit is creating a health or fire hazard, the landlord should take steps to require the hazard be removed, or if necessary, terminate the tenancy and evict. If the condition does not amount to a health or fire hazard, you may elect to serve a thirty-day notice to terminate a monthto-month tenancy, or if the lease is a fixed term, do not renew. If the tenant could have a disability called “hoarding,” you should seek legal advice before proceeding.

Q A Q A Q A

uestion: One of our tenants informed me residential landlords must replace carpeting every five (5) years. Is this true?

nswer: No. California does not have specific requirements for replacing carpets or any condition of the unit so long as it remains in a habitable condition, which means free from substantial health or safety hazards. So long as the carpet does not have holes or tears it is in habitable condition, if it can be repaired that is acceptable. uestion: How long should we retain old leases at our apartment complex? I have heard two years, is this correct?

nswer: The statute of limitations (the time one has to bring a lawsuit) for written leases is four years. Therefore, leases should be retained a minimum of four years from the date of the vacancy.

uestion: One of our tenants is buying a home and gave us a thirty (30)-day notice. Now they want to extend escrow fifteen (15) more days beyond the thirty-day period. They are willing to pay for the additional rent. Should we require a new thirty-day notice from the tenants? nswer: If you agree to the additional fifteen (15) days, agree in writing to extend the thirty (30)-day notice period to expire on midnight on the agreed extension. The writing should provide for any additional payment and specifically state that the thirty days’ notice is not waived. Otherwise, the court may believe that you waived your right under the thirty-day notice by allowing the tenant to remain in possession and paying rent beyond the thirty-day notice period. If the tenant will not sign, then do not accept the additional time and proceed with eviction. Kimball, Tirey & St. John LLP is a full-service real estate law firm representing residential and commercial property owners and managers. This article is for general information purposes only. Laws may have changed since this article was published. Before acting, be sure to seek legal advice. For contact information, please visit our website. www.ktslaw.com. © 2022 Kimball, Tirey and St. John LLP SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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40 | Southern California Rental Housing Association Rental Advisor April 2022

A THREE-PHASE GUIDE TO IMPLEMENTING UTILITY BILLING

Contributed by the Team at LIVABLE

illing residents for water and other utilities has benefits! Property owners can offset their expenses while encouraging conservation. Here are some of the things you need to be aware of when it comes to billing your tenants for utilities.

Great news! If you’ve decided to start billing your tenants for their utility use, you’re not only making them financially accountable for their utility use, you’re also making them environmentally accountable. Public concern about global warming exceeds 50% among most demographic subgroups of Americans, according to Gallup. People are growing increasingly concerned about the environment, and increasingly interested in ways that they can help. In a 2021 Mastercard survey, 85% of people said that they were willing to take personal action to combat environmental and

sustainability challenges. Scaling back water and energy use is great for the environment, but it’s not easy to get people motivated to do that. When residents are responsible for their utility bills, they tend to use utilities more responsibly. Billing your residents can provide them with the extra incentive that they need to conserve. There are a number of things that property owners and property managers need to be aware of ahead of time to ensure that the transition to billing goes smoothly. Keep reading for a quick overview. BEFORE YOU CHOOSE YOUR UTILITY BILLING SYSTEM: CAREFULLY CONSIDER YOUR OPTIONS You need to figure out which utility billing method works best for your multifamily property. Is retrofitting a submeter in each of your units the

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

best move? At present, are you ready for that financial expense? How easy will it be to coordinate installations with your current tenants? Maybe you want to make use of your property’s master meter and are considering a ratio utility billing system (RUBS). This way, you skip the installation process and all its accompanying headaches and instead use a utility allocation formula that’s fine-tuned to your property. Whichever option you’re leaning towards, why not reach out to a utility billing expert? You can get help navigating all of the rules and regulations in place surrounding billing, and benefit from their expert guidance on which system would work best for your unique property. On top of that, you can get the data necessary to help you make an informed decision. Livable has an online calculator that you can use to estimate your cost savings from RUBS, we even offer free recovery estimates! AS YOU SET-UP YOUR BILLING SYSTEM BE SURE YOU COMMUNICATE CLEARLY Once you’ve chosen the best billing option, it’s time to get your tenants on board! An important part of doing that is keeping them informed. Make sure that your tenants understand what’s changing and when the changes will start. Be aware that there are guidelines that you need to follow as you’re implementing utility billing on your property. Billing methods and any applicable fees are clearly disclosed in the lease. Any changes to that lease concerning utility billing have to be outlined in a signed addendum. You also have to give your residents sufficient written notice. Don’t worry, your

utility billing company can help you keep up with all the requirements! Your tenants may also be curious about why you’ve chosen to start billing. Talk to them about the benefits of utility billing! There are environmental benefits, and more. If you were previously charging tenants a flat fee, with a new method you can give them more control over their utility usage and the accompanying expenses. WHILE BILLING IS UNDERWAY, BE SURE TO KEEP COMMUNICATING! You can make billing part of your strategy to encourage conservation on your property. Sharing conservation tips can help too! There are simple adjustments to everyday actions that your residents can make to conserve utilities. According to Rutgers, families can save up to 2% on heating bills just by lowering their thermostat by one degree. Share with your tenants the information that they need to make a difference. This includes utility data. By giving your tenants access to utility usage data, they can monitor the impact that their activities have. This might even provide further incentive to conserve! Even with careful planning and the successful rollout of your new billing system, your residents may need continuing support. If they still have questions about the various ins and outs of the system now in place, it’s important to address those questions to help keep your residents happy. Your utility billing provider can help you with that too!

Livable is a full-service residential & commercial real estate billing partner. Focusing on bulk amenity/utility billing, our mission is to promote savings and conservation through education. Our suite of cloud services and end-to-end solutions helps to reduce monthly consumption, overall expenses and adds more money to your bottom line. To learn more, visit livable.com/apn.

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April 2022 socalrha.org | 33

The Politics of a Housing Crisis

By Roderick Wright, California State Senator (Retired)

isten to any political discussion today and apart from inflation and crime, the dual crisis of homelessness and the lack of affordable housing will be front and center. There have been numerous solutions thrown around, but none that I’ve ever heard truly addresses the problem. Mark Twain once said, “Everybody talks about the weather, but nobody does anything about it.” Housing and homelessness have been handled about the same way as the talk about weather, only with a lot of squandered money. Homelessness and scarce affordable housing in California are the confluence of several issues. First and foremost, we have a housing crisis that is the result of years of regressive fiscal policies imposed by both of our primary political parties. Reductions In the private investment in housing caused by federal, state, and local policies are a principal cause of the housing crisis we face today. This is also a major contributor to the homeless dilemma.

Over the last 40 years, Wall Street, with the complicity of government has waged an effective war against private investment in real estate with the intention of diverting those investment dollars into Wall Street investments. “Mom and pop” rental housing investors have been particularly targeted. Oddly, on the political right, conservatives object to spending tax money on poor people. Then, on the political left, progressives object to private industry, and often in this case, “mom and pop” rental property owners making a profit, even when that profit would actually be better for renters. This leaves us where we are today, in a severe crisis. The lack of private investment in housing has been a major cause leading to the housing crisis and thus homelessness. There are many causes for this lack of investment, but first let’s highlight some of the other causes of homelessness, including job loss and low wages. For a variety of reasons, the cost of real estate, houses and apartments have grown much faster than personal incomes. This differential is growing wider as demand for housing further overtakes housing supply. Other factors that contribute to the homeless crisis

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

are the lack of sufficient drug addiction and mental health services, prison inmates being released without any support services, military veterans with various health issues in need of care. Other states today are ”shipping” some of their homeless population to us right here in California! Other causes of homelessness include foster children ageing out of care without needed services, and high student loan debt payments, among other things. We also suffer from the misguided perception of civil liberties here in California. The idea that people can just camp out on the streets irrespective of the adverse health effects it creates for themselves and everyone else is insane. Finally, some people are just trifling. Homelessness is an extremely complex issue, and a person or family could actually be victims of more than one of the causes I’ve outlined. Three points are often overlooked when looking at problems and for their solutions: How did we get here in the first place? What caused this problem? What do we consider to be a solution to the problem? And, finally, what are the consequences of the proposed solution, or in other words, what are the unintended consequences? REGULATIONS INCREASE COST OF LAND AND CONSTRUCTION Urban land in California is becoming more valuable as demand continues to overtake supply. One way to reduce costs in developed areas would be to increase density. However, local zoning rules and the California Environmental Quality Act (CEQA) make building here far too difficult and expensive. Zoning rules often limit how many units can be built on a lot. A term for this in urban planning circles is “exclusionary zoning.” An interesting historical fact is that this type of zoning became more prevalent after the federal government banned the enforcement racially restrictive covenants on real estate in 1948. The goal of exclusionary zoning was to make the property more expensive such that it would limit Blacks and other “undesirables” from moving into certain neighborhoods. NIMBY-ism (Not in my back yard) has also become a deterrent factor in the housing business. Just as when laws were passed to make it more difficult for Black people to own property, laws were then passed making it more difficult to build “affordable housing” this drove-up the cost and had the effect of limiting supply. The California Constitution has a provision that says a vote of the people is required if government money is going to be used to build affordable housing! This was an industry sponsored initiative. I guess everyone is a Christian so long as someone else is carrying the cross! 42

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IMPACT OF ELIMINATION OF REDEVELOPMENT AGENCIES A dwelling unit is basically comprised of six things: (1) land, (2) labor, (3) materials, (4) permits and (5) fees, and (6) return on investment. If you want “affordable housing” in other words, below cost housing, you must decide which of these items you are willing to give up. Increasing density would lower the cost of land per unit for example, but not all folks are on board with that. Each of these six have their own constituency. In 2011, the California Governor and Legislature eliminated redevelopment agencies (RDA’s). Because of the ability of RDAs to reduce or even eliminate land costs, RDAs provided over 40% of the affordable housing in California. To date, nothing has replaced the RDA, and as one might have predicted the housing affordability problem has only gotten worse. A state senator predicted this at the time of the vote! As previously mentioned, the cost of land and improvements have increased far faster than wages. Rents for a one-bedroom apartment are more than $2,000 per month in many Los Angeles neighborhoods. This means a prospective tenant would have to make over $75,000 per year to qualify under the 30% income coverage factor. As tax and regulatory changes over the last 40 years have driven much of the private capitol out of the rental housing business, “mom and pop” rental property investors who were are the majority of rental property owners in California and have been particularly hard hit. Since the 1970’s, government at all levels, with the guidance of Wall Street have waged war on small rental property owners, and as the “moms and pops” exited the rental housing market, they have taken their money with them. Back in 1970, a taxpayer could deduct taxes, interest and expenses from as many properties as they owned from their ordinary income, Form W-2 wages, which encouraged investment in rental housing. Today investors can only deduct from two pieces of property. Add to this the loss of accelerated depreciation, which is a business accounting tool. Then we saw the inability of a developer to deduct front-end construction costs related to a project. This deduction was replaced with the insane “tax credit allocation committee.” Getting a project through this committee can take years, and often comes with certain “strings” attached that add even more project costs. The Internal Revenue Service has even altered rules requiring depreciation on many repairs rather than simply allowing for the deduction of them. Taken together, this makes real estate less attractive financially. Which, by-the-way, is just what our good friends on Wall Street had wanted. Please turn to page

Response

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6 | Southern California Rental Housing Association Rental Advisor July 2021 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG 18 | Southern California Rental Housing Association Rental Advisor April 2022

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IMPACTS OF LOCAL RENT REGULATIONS AND THE 401(K) PLAN

Then if those financial changes weren’t enough, as the housing market became more constricted, local governments, responding to tenant complaints piled on with rent control and expensive rental housing regulations. Evicting a tenant in Los Angeles today can and does often take over a year! For an apartment that rents for $1,500 per month, legal fees and other costs necessary to evict a tenant today could easily exceed $30,000! There should be a binding arbitration process for mom and pop owners in the unlawful detainer process. No lawyers on either side, a legal arbitrator in place of court should decide these matters. The rights of both sides would be protected. So where did all those housing investment dollars go? The 401(k) plan, which was a part of the Revenue Act of 1978 and other Wall Street investment plans are siphoning off dollars that once went into housing. For many the idea of owning an apartment building or even a single-family home is no longer attractive. The true villain in the mix here is Wall Street. Real Estate was once considered the most effective way to create generational wealth and save for retirement for average people. Today more families are choosing the stock market and other non-real estate investments. As you might expect, the resulting wealth gap has been growing during this period of time. Our friends on Wall Street; however, are doing just fine! Government has proven itself inefficient at developing housing and easing the crisis. Things like rent control and an onerous eviction process discourage private investment in rental housing. Some estimates put the disinvestment in rental housing at over 40%. Government adds various costs in addition to time. This vilification of rental property owners is driving out private investment to the detriment of tenants. The 401(k) plan is more insidious than most people realize. It effectively transferred money from real estate (a/k/a, Main Street) to Wall Street. It altered the mortgage underwriting business, so the cost of housing has no ceiling today. Fewer Black people own homes today than they did in 1970, two years after the Federal Fair Housing Act was passed into law! We should consider ways to incentivize private rental housing investment. For example, what about reductions in property taxes and permits and fees in exchange for lower rents? What about restoring tax laws mentioned earlier to where they were before the roll out of the 401(k) plan? In particular, accelerated depreciation, allowing more than two properties to be

deducted from state and federal income taxes, and allowing front end tax deductions to be allowed as they once were; therefore, eliminating the need for the tax credit allocation committee. Los Angeles County is losing rental housing stock every year. Particularly older buildings providing the bulk of affordable housing, so-called “naturally occurring affordable housing,” that in many cases only need some basic repairs. It is estimated that the City of Los Angeles loses 6 rent-controlled units every day! Why not create a fund to repair older buildings with grants? It would be much less expensive than building new units and a fair rent schedule could be negotiated with the owner going forward. This would be particularly useful for smaller “mom and pop” owners, as they have trouble getting financing due in part to rent controls and other “tenants’ rights” policies. THE ROLE OF GOVERNMENT While government has a role to play in housing, it should be the last, not the first resort. The problem is that government has too many inefficiencies that create added costs when you use their money. The first option should be the private sector. As mentioned before, many of the tax incentives that once created housing have been striped or modified making them useless, we know what has worked, why reinvent the wheel? For the properties where the government intends to manage, why not look at triple-net leases? This is a development scheme where a private developer gets an agreement from say a city to lease a completed facility. The city could set forth all the specifications, how many rooms, amenities and dining areas, or whatever. A developer would then build the project to the specific needs of the city, but in this case the city would not advance any funds until the project was completed. With a signed triple net agreement, a developer could easily get financing, and the city would simply pay the lease agreement after the project was completed. Unlike the squandered money from Proposition HHH, here the city would hold on to its cash. Triple-net means the city would pay property taxes, maintenance, and insurance in addition to the fee to lease the property. No completion, no pay, the developer would assume the risk, and the city would hold onto the cash. In ‘n Out Burger and many other businesses use this practice today. THE EVICTION MORATORIUM The pandemic has really exposed the disdain for Please turn to page

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rental property owners. Tenants don’t have to pay rent and can’t be evicted! This is called the Eviction Moratorium. I know small rental property owners who are owed more than $150,000. Never mind the fact that for many of these owners, this is their retirement income! Moreover, after the emergency is over, tenants have a year to pay owners before they can be evicted! While there are government programs like the state’s Housing is Key program to pay the back rent, these programs are slow to pay and inefficient. Many tenants are wisely “gaming the system” by not paying their rent and using this period of opportunity as a savings account builder. For others, it’s a new car purchase, or event clothes and vacations at the rental property owner’s expense! Since there is no requirement placed on tenants to prove financial hardship caused by COVID, you are looking at tenants gaining a windfall of, $18,000 per year on a $1,500 per month apartment! As you might imagine many “moms and pops” are facing foreclosure or having to sell to guess who? Wall Street! This is simply unfair, should be illegal, and it constitutes a taking by the government, but nobody seemingly gives a damn about small, “mom and pop” rental property owners. THE NEED TO ENFORCE LAWS In Los Angeles, the city attorney recently announced proudly that he was charging a rental property owner for the gang activity in his building! Not clear why the police simply didn’t arrest the criminals there? Moreover, if the owner sought the eviction of the alleged gang members the city would provide legal services to the gang members at no charge! We need to enforce laws related to camping on the streets, beneath bridges, and in alleys and along the freeways. Aside from being unsightly, it’s unsanitary and has become a source of disease and rodent infestation. We might just have to move the homeless to sites with or without their consent. People sleeping or camping on the street should not be a right. We must decide is housing a right? If it is, then what exactly does one have a right to? Unlike food (food stamps) and health care, (Medicaid), the federal government does not consider housing an entitlement. Only one in four eligible, low-income individuals receives any sort of assistance according to The Center on Budget and Policy Priorities, November 15, 2017. The Section 8 waiting list is years! THE NEED TO LOOK AT MULTIPLE APPROACHES We need to look at multiple possible solutions to the issue of affordable housing. The government is clearly

inept at building housing, affordable or otherwise. Over the last 40 years we have allowed Wall Street to wage war on private housing investment for their own benefit. Many of the tax advantages at the federal level have been wiped out. At the state level, here in California CEQA and other regulations bring unintended consequences and have made housing more expensive and difficult to develop. Locally, zoning restrictions and difficulties getting entitlements coupled with rent control make private investment in housing far less attractive. Wall Street began buying houses through distress sales to flip for profit. Now they have been buying houses to rent. In the process they are driving up the price of the houses and apartments and pricing prospective, private buyers out of the market. One company owns over 100,000 properties that it rents, with no intention of selling. They even advertise on television they will pay cash for houses in any condition. Wall Street has taken the view they don’t care which party is in the White House, and they’ll still count the money. Going back to the Reagan era, all the treasury secretaries came from Wall Street. We must break this stranglehold! There are six phases of most government projects. They are: (1) Enthusiasm – In the beginning everyone thinks this is a great idea. (2) Disillusionment Once it becomes clear, it was a bad idea and people question why it was done. (3) Panic - Once the true costs come in, then chaos sets in. (4) Search for the Guilty – There is always a belief that someone must be guilty of something. (5) Punishment of the Innocent - Usually the people who are punished had nothing to do with the project in the first place. And, (6) Praise and Honors for the Non-Participants - Finally, the people who had nothing to do with the project or its solution receive all the glory for the solution. In order to resolve the issues of homelessness and housing crisis, we have to break this cycle.

The author, Roderick Wright, is a former member of the California State Senate and Assembly. He has developed affordable housing with the Inner-City Housing Corporation. He worked in the Planning Department of the City of Los Angeles. He also worked at the Southern California Association of Governments (SCAG). Mr. Wright has been a rental property owner for over 40 years and is also a member of the Apartment Association of Greater Los Angeles and the Coalition of Small Rental Property Owners.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

Financial Advisory

Diversify Your Real Estate Portfolio with Partial Interest Properties BY CHRISTOPHER MILLER, MBA

SPECIALIZED WEALTH MANAGEMENT

s re a l e s t a t e i n v e s t o r s , w e sometimes have a tendency to put “all our eggs in one basket.” We’ll buy only four-unit properties in LA County, only small retail properties or focus all our investments in Southern California, for example. In all three of these examples, we expose ourselves to regulatory risks of new antilandlord laws (especially in LA County or California as a whole) or economic risks such as the slow decline of the retail real estate market or of further deterioration of California’s economy. “Concentration Risk” comes from holding a large portion of your assets in one type of investment. Remember the dot com stock investors from 2000? Or someone who bought office space in Detroit, Michigan in the 1950’s? How about someone who ran a chain of dry cleaners when the 2020 pandemic shutdown hit? Would you like to be managing a company that owns indoor malls nationwide? Diversifying our real estate holdings can allow us to lessen our concentration risk while still enjoying the potential for income, growth and tax benefits: the reasons that we bought real estate in the first place.

MAYBE OTHER AREAS OF THE COUNTRY CAN BE BETTER FOR INCOME AND GROWTH As I discussed in last month’s article, perhaps we have seen all the explosive growth that California is going to get. After decades of this tremendous growth, today the population in our state’s major metro areas is growing much slower than the national average. At the same time, the higher concentration of wealth in the state pushes demand and therefore prices higher. We have slowing growth rates and a regulatory environment that is very unfriendly for property owners, but much higher prices! By shopping for properties in other states, we can seek lower prices – and gain potentially higher income and appreciation rates. WITH PARTIAL INTERESTS, DIVERSIFY INTO OTHER REAL ESTATE ASSET TYPES In addition to providing diversification by geographic area, partial interest properties can allow us to do the same across real estate categories. Owning 100% of a Walgreens store, an Amazon distribution warehouse or a senior living center are far outside Please turn to page

Christopher Miller is a Managing Director with Specialized Wealth Management and specializes in tax-advantaged investments including 1031 replacement properties. Chris’ real estate experience includes work in commercial appraisal, in institutional acquisitions for a national real estate syndicator and as an advisor helping clients through over four hundred 1031 Exchanges. Chris has been featured as an expert in several industry publications and on television and earned an undergraduate business degree and an MBA emphasizing Real Estate Finance from the University of Southern California. Chris began his real estate career in 1998. Call him toll-free at (877) 313 – 1868. 48

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the reachFund, of most realofestate investors. By Families for individual the purpose spending these tax using partial interest properties, I can sell an 8-unit dollars on rental assistance, homelessness, affordable apartment building in counseling Los Angeles and put my sales housing, and housing services. proceeds – through a 1031 exchange - into all three of these properties.

Further, AB 1199 would require a qualified entity, currently as a limited company or ANdefined OPPORTUNITY TOliability OUTSOURCE limited MANAGEMENT partnership, owning multifamily or singleRESPONSIBILITIES family rental homes, to report specified information The real syndication that of I work about theestate property each year companies to the Secretary with will buy institutional-grade investment real State’s Office. That office would have to create a estate, re-sell it as partial interests, then stay on as searchable database on its website. the property and asset manager to guide the building through the business plan they created for it.

Since the bill is an urgency measure, meaning that

Many of it my clients, after immediately, 30 or more ityears if passed, would take effect will as landlords, decided to “retire” from that business require a 2/3rds vote. Usually a high bar, however, through selling enjoying their properties completing with Democrats more thanand a 2/3rds tax-deferred 1031 exchanges into partial interest majority, it will be difficult to stop. It is hard to properties. By exchanging concentrated holdings believe that someone would introduce a bill to tax for more diversified partial interest ones, these property owners for the “privilege” of providing investors can also delegate management and rental housing, especially considering all that hasthat accounting duties to a professional company been piled billions on property owners in over theestate. last few This oversees of dollars real years. We would like to see this bill just go away. management company takes care of everything – Very far away. including sending my clients their monthly income by direct deposit. At tax time, an income statement

is provided that is ready to hand to yourtoCPA for What is the definition of insanity according reporting on Schedule E. No more compiling Einstein? “Doing the same thing over and over everything for tax time, no more managing and expecting different results.” Well, here we gocash flow paying bills every monthhas and no more again.and Assembly Member Buffy Wicks proposed communicating with tenants!

legislation for the third year-in-a-row that would force rental housingINTEREST providers toPROPERTIES register their BE A COULD PARTIAL properties withGOOD the government. FIT FOR YOU?

This month, I have discussed my clients have AB 1188 would require cities andwhy counties to create decided to sell some of their real estate assets and and administer a rental registry with an online complete tax deferred 1031 exchanges into partial portal designed to receive specified information interest properties. By doing so, they can maintain from landlords who own or operate five or more monthly income and capital appreciation potential, rental dwellings. The bill would requirebylandlords diversify their investment portfolio geographic to provide a variety of information the location and asset type, and retire regarding from management location of rental property, its ownership, and to you, responsibilities. If this sounds appealing its occupancy, other things. are It also would perhaps partialamong interest properties worth learning about. My toll-free number is (877) 313-1868. prohibit a landlord from issuing various notices to

increase the rent or terminate a tenancy unless the

Securities offered through Emerson Equity LLC, member landlord has Emerson submitted a form theSpecialized online portal. FINRA/SIPC. Equity LLConand Wealth Management are not affiliated. All investing involves risk. Always discuss potential with your tax The SCRHA opposed the investments prior bills and assisted in and/ or investment professional prior to investing. Hypothetical killing them. Weare willprovided work toward the same result in scenarios herein to illustrate mathematical 2021 for AB 1188. principals only, and they are not a promise of performance. There can be no assurance that any investment strategy will achieve its objectives.

16 | Southern California Rental Housing Association Rental Advisor April 2022 CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG SOUTHERN

(619) 867-1713

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Be Prepared: Maintenance of Fire and Life Safety Systems Starts with the Property Management Team Here’s a checklist for keeping your fire and life safety systems ready in the event of a disaster

By Steve Goyette, Vice President, Telgian Fire Safety Services ire and life safety for small apartment buildings includes a wide variety of measures, many of which are more than capably handled by on-site management personnel. Here are some general categories to consider, along with specific actions that can improve preparedness in the event of an emergency.

FIRE EXTINGUISHERS

Monthly – Perform a visual inspection to ensure visibility / accessibility of the extinguisher, presence and correct position of the locking pin and an unbroken tamper seal. Inspect the extinguisher for any physical damage, leakage, corrosion, or a clogged hose or nozzle. Inspect the pressure gauge to ensure it is in

the correct operating range. Pick up the extinguisher to ensure it is full, placing it back in the correct position when done, which includes making sure the stickers (typically “how to use” the extinguisher) are legible and facing outwards. Check the extinguisher tag and note when the annual inspection is coming due, then initial and date the back of the tag. Annually – Hire a licensed contractor to perform an annual fire extinguisher inspection, which will likely include additional services (such as 6-yr and 12-yr) on some of the extinguishers in service. EXIT SIGNS / EMERGENCY LIGHTING Monthly –Perform a visual inspection to ensure the units are mounted correctly, have no obvious signs of damage, and the lenses are clear and unbroken. In

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

addition, perform the “push button” test by holding down the test button for 30 seconds. During this time, the device should light up with full display, and if not, the unit should be serviced by a licensed contractor. Update the inspection log with results and any noted items requiring repair. Annually – Hire a licensed contractor to perform an annual emergency light/exit sign inspection, which may require additional services such as batteries, bulbs, or light fixtures for those that do not pass the inspection and test. HOUSEKEEPING AND LANDSCAPING Regular upkeep and maintenance of the property is crucial to allowing for an effective prevention of fire, as well as response when an emergency does occur. Be sure plants and landscaping are well trimmed and not impacting egress pathways, dead and down foliage is regularly removed from the property, common hallways and walkways are clean and free of debris/storage to maximize exit space for residents, and that stair rails and steps are in good condition with proper lighting. EXIT / STAIR DOORS

Weekly – Perform a visual inspection of the fire alarm control panel to ensure that the power indication lamp is on, and that there are no trouble signals, supervisory signals or alarm signals. In addition, weekly visual inspection of the notification devices (horns, strobe lights, combination horn/strobe) to ensure they’re mounted securely and free from obvious physical damage. Semiannually – Hire a licensed contractor to perform a semiannual and annual fire alarm inspections. FIRE SPRINKLER SYSTEMS For those facilities equipped with a fire sprinkler system, there are a few key inspections that a property manager can conduct, in between inspections from the licensed contractor, that help to ensure the system will be ready in the event of a fire. Monthly – Perform a visual inspection of the water pressure gauges on all risers to ensure proper pressure and absence of closed valves in the system. Also, perform a visual inspection of alarm and dry pipe valves to ensure they’re free from physical damage and corrosion.

In some cases these doors are connected to the fire alarm system, or local smoke alarms, and are intended to close in the event of smoke or fire to prevent the effects of the fire (smoke / heat) from entering the exit path for residents. Ensure these exit and stairway doors remain functional and latch fully. Do not block or lock any exit and stairway doors. It is critical that they open and close normally.

Weekly or Monthly – Perform a visual inspection of all fire sprinkler system control valves to ensure they’re in the proper open position and are free from physical damage and corrosion. Perform inspections weekly for those only secured with a tamper seal, and monthly for those secured with a lock, or if supervised by a fire alarm system.

FIRE ALARM SYSTEMS

Telgian Fire Safety Vice President of Business Development, Steve Goyette, CFPS, SET, has over 35 years of experience in fire protection design and consulting, including fire sprinkler contracting. He is a Certified Fire Protection Specialist (CFPS), as well as Level III NICET certified in Automatic Sprinkler System Layout. Steve Goyette can be reached at sgoyette@ telgian.com.

For those facilities equipped with a fire alarm system, there are a few key inspections that a property manager can conduct, in between inspections from the licensed contractor, that help to ensure the system will be ready in the event of a fire.

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The SCRHA Innovations in Rental Housing Education Conference and EXPO brings you the latest trends in the industry while providing solutions to all your management and maintenance needs.

8:30 AM - 9:15 AM: Legislative Update Presented by Molly Kirkland, Director of Public Affairs and Pat Moran, Aaron Read & Associates

1:00 PM - 1:45 PM: You Bet Your Assets! What You Need to Know about ESA Processing Presented by Victoria Cowart, CPM, Director of Education and Outreach, PetScreening

10:30 AM - 11:15 AM: Team Leadership and How to Hold Your Team Accountable Presented by Alex Winborn, VP of Residential Asset Management

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2022 EXHIBITORS A-1 All American Roofing of San Diego, Booth 414 Advanced Excercise, Booth 609 Aire-Master of San Diego, Booth 707 All Valley Washer Service, Booth 09 American Bathtub Refinishers, Booth 706 Apartments.com, Booth 103 Bald Eagle Security Services, Inc., Booth 900 BG Multifamily, Booth 910 Bio One, Booth 322 Cable, Pipe & Leak Detection, Inc., Booth 314 California Safety Agency, Booth 514 Corporation for Supportive Housing, Booth 612 Dish Network, Booth 310 Dunn-Edwards Paints, Booth 502 Four Seasons Tree Care, Booth 511 General Coatings Corporation, Booth 607 Generation Contracting & Emergency Services, Booth 504 Griswold Real Estate Management, Inc., Booth 318 HD Supply, Booth 311 HD Supply, Booth 410 Hometown Restoration, Booth 412 Interior Logic Group Property Services, Booth 207 InterSolutions, Booth 208 Kimball, Tirey & St. John LLP, Booth 308 KJ Carpet Wholesale, Booth 320 Legacy Custom Cushions Inc, Booth 714 Life Deck Coating Installations, Booth 212 Luther Burbank Savings, Booth 312 Optimum Seismic, Booth 304 Pacific Bathtub Refinishers, Inc., Booth 507 PCC Trip Hazard Removal, Booth 711 PetScreening, Booth 509 PrintWithMe, Booth 315 Redi Carpet, Booth 222 Reliant Parking Solutions, Booth 606 Restoration Managment Company, Booth 611 Saga Security, Inc., Booth 313 San Diego Backflow Testing, Inc., Booth 306 San Diego Backflow Testing, Inc., Booth 306 SD Wood Cabinet, Booth 205 Security First, Booth 203 Security First, Booth 203 Sully-Jones Roofing, Booth 500 The Phoenix Staffing, Booth 302 USGI - Upland Group, Booth 715 WASH Multifamily Laundry Systems, Booth 615 Western Towing, Booth 307 Yardi Systems, Inc., Booth 109 Zumper, Booth 210

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April 2022 socalrha.org | 25

# 655 WB Operating LLC . . . . . . . . . . . . . . (619)702-0655 A ADD Realty, Inc. . . . . . . . . . . . . . . . . . . . . . (619)232-6811 All Points Real Estate . . . . . . . . . . . . . . . . (619)298-7724 Alliance Investment Corp. . . . . . . . . . . . . (858)597-4900 AltaCima Apartment Homes . . . . . . . . . . (858)565-8333 American Assets Trust . . . . . . . . . . . . . . . . (858)350-2564 Antelope Ridge (Sentinel Real Estate) (951)672-8181 Arbor Terrace . . . . . . . . . . . . . . . . . . . . . . . (619)293-3612 Arbors at California Oaks Apartment Homes . . . . . . . . (951)461-3264 Asset Property Management . . . . . . . . . (858)560-9363 Avenue 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . (206)582-3333 Award Property Mgmt . . . . . . . . . . . . . . . . (619)471-1755 B Barone Galasso & Associates, Inc. . . . . . (619)855-5241 Bob Cota Realty . . . . . . . . . . . . . . . . . . . . (619)465-9934 Book and Ladder . . . . . . . . . . . . . . (949)209-8347x0029 Brennan And Associates Inc. . . . . . . . . . (619)475-2470 Brentwood Management Co. . . . . . . . . . (619)220-8595 Bridge Property Management . . . . . . . . . (801)716-5795 Brycorp, Inc. . . . . . . . . . . . . . . . . . . . . . . . . (619)920-7174 Buchanan Property Management Corp. (619)269-0276 C CASAVIDA . . . . . . . . . . . . . . . . . . . . . . . . . (858)454-8857 Cambridge Management Group, Inc. (619)497-0771 Campus Village 1, 2 & 3 | 6 Star Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)583-3339 Chase Pacific Property Management and Real Estate Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)271-8841 Choice Properties / Point Loma Real Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)223-4075 Cirrus Asset Management, Inc. . . . . . . . . (818)222-4840 City View Apartments|Greystar . . . . . . . . (619)234-0134 Common Living Inc. . . . . . . . . . . . . . . . . . (844)612-6697 Community Research Foundation, Inc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)275-0822 Core Property Group . . . . . . . . . . . . . . . . (619)399-7279 Cushman & Wakefield . . . . . . . . . . . . . . . . (949)224-2929 D Delta Property Management . . . . . . . . . . (619)465-5851 Domain | STYL/Magnolia Capital . . . . . . (858)292-1111 Douglas Allred Company . . . . . . . . . . . . . (858)793-0202 E Eagle Glen Apartments | Greystar . . . . . (951)461-4565 Elevate SD Properties . . . . . . . . . . . . . . . . (619)535-8112 Elite Property Management . . . . . . . . . . . (619)823-3712 Encore Realty, Inc. . . . . . . . . . . . . . . . . . . . (619)742-5678

Euston Management . . . . . . . . . . . . . . . . (858)793-8899 F FBS Property Management, AMO . . . . . (619)286-4721 FDC Management, Inc. . . . . . . . . . . . . . . (714)685-7000 Foothills at Old Town . . . . . . . . . . . . . . . . (951)676-7545 G Gables Oak Creek . . . . . . . . . . . . . . . . . . . (951)600-9696 Gables Point Loma . . . . . . . . . . . . . . . . . . (619)223-6577 Gables at Alta Murrieta . . . . . . . . . . . . . . . (951)698-0628 Griffis Mission Valley . . . . . . . . . . . . . . . . . (619)220-0530 Griswold Real Estate Mgmt., Inc. . . . . . . (858)597-6100 H H.G. Fenton Company . . . . . . . . . . . . . . . (619)400-0120 Hanken, Cono, Assad & Co. . . . . . . . . . . (619)698-4770 Hanover Little Italy . . . . . . . . . . . . . . . . . . . (619)677-1799 Heartland Associates Inc. . . . . . . . . . . . . (619)462-2082 HeetWave Properties . . . . . . . . . . . . . . . . (888)557-4338 HomeTeam Property Management . . . . (619)872-7368 Homes Management, ATS Homes, Inc. (760)432-4663 Horizon Properties Management Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)482-3054 Humphreys Residential . . . . . . . . . . . . . . (619)865-0389 I IPI Property Management . . . . . . . . . . . . (858)277-2700 ISG Real Estate . . . . . . . . . . . . . . . . . . . . . (619)500-5860 Iconic on Alvarado | BH Management Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)286-3990 Income Property Advisors Inc. . . . . . . . . (858)279-1500 Interfaith Housing Assistance Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)668-1532 Investors Property Management Group (760)967-4764 J JHB California Properties, LLC . . . . . . . . (760)722-6421 Jensen Properties . . . . . . . . . . . . . . . . . . . (858)449-7294 Johnston Property Management, Inc. (760)944-0703 K KFR STAR Realty . . . . . . . . . . . . . . . . . . . . (619)293-7653 Kleege Enterprises . . . . . . . . . . . . . . . . . . (858)481-3081 L Leonero Properties . . . . . . . . . . . . . . . . . . (619)273-4350 Liberty Military Housing . . . . . . . . . . . . . . (858)874-8100 Logan Property Management . . . . . . . . . (619)260-5562 Lyon Living . . . . . . . . . . . . . . . . . . . . . . . . . (949)838-1274 M MG Properties . . . . . . . . . . . . . . . . . . . . . . (858)658-0500 Maya Linda Apartments . . . . . . . . . . . . . . (858)566-5350 Melroy Asset Management . . . . . . . . . . . (858)483-5111 Mill Creek Residential . . . . . . . . . . . . . . . . (714)800-1391 Mira Bella Apartments | Simpson Property Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)560-5720 Modera San Diego | Mill Creek Residential . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)500-8509 N Noah Realty . . . . . . . . . . . . . . . . . . . . . . . . (858)504-0416 O Ocean Breeze Apartments|Greystar . . . . (619)428-3369 Olympus Property . . . . . . . . . . . . . . . . . . . (858)268-8858 P Pacific Commercial Management, Inc (858)450-6886 Pacifica SD Management . . . . . . . . . . . . (619)296-9000 ParkLife Real Estate . . . . . . . . . . . . . . . . . (619)435-9100 Parkdale Apartments | Norco Mgmt. Corp . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)737-9017 Pasas Properties, Inc. . . . . . . . . . . . . . . . . (619)607-7560 Paul Langley Company . . . . . . . . . . . . . . (415)431-9104

People Helping Others Prop. Mgmt. . . . . (619)282-5400 Pierside North | Greystar . . . . . . . . . . . . . (949)202-3991 Pierside South | Greystar . . . . . . . . . . . . . (760)433-3500 Premier Real Estate Management, Inc. (619)354-8404 Professional Real Estate Management (619)297-7736 Providence Real Estate Management Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)525-8705 Q Quail Ridge Apartments . . . . . . . . . . . . . . (925)819-1009 R R & V Management . . . . . . . . . . . . . . . . . (619)285-5500 R. A. Snyder Properties, Inc. . . . . . . . . . . (619)297-0274 REC Properties| Peasquitos Point Apts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)484-5047 RG Investment Real Estate Services Inc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)268-5004 Real Property Management . . . . . . . . . . . (760)434-1791 Rehmann Realty Group . . . . . . . . . . . . . . (619)440-5669 Richman Property Services . . . . . . . . . . . (813)262-0401 River Oaks |Waterton Residential . . . . . . (760)721-8585 Rohn Properties Management . . . . . . . . (619)990-7433 Rolling Hills Gardens | Greystar . . . . . . . . (619)482-7583 S SD Rent Pros . . . . . . . . . . . . . . . . . . . . . . . (619)884-0906 STYL Residential . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . San Diego Housing Commission . . . . . . (619)578-7531 San Diego Realty Services . . . . . . . . . . . . (619)713-1044 San Terra Properties . . . . . . . . . . . . . . . . . (858)832-7800 Sardo Properties . . . . . . . . . . . . . . . . . . . . (619)405-9418 Scott Management Company . . . . . . . . (310)370-2696 ScottWay Capital . . . . . . . . . . . . . . . . . . . . (619)209-3544 Sea West Property Management . . . . . . (760)787-6035 Skyline Management Group, Inc (310)246-4750x818 South Bay Community Services . . . . . . . (619)420-3620 Stafford Property Group . . . . . . . . . . . . . . (619)957-7326 Summit Realty and Management . . . . . . (619)423-3023 Sun An Sea Property Mgmt. . . . . . . . . . . (619)298-4160 SunRidge Properties, Inc. . . . . . . . . . . . . (858)578-3600 Sunrise Management Company AMO (858)751-1768 T Team Bourda Incorporated . . . . . . . . . . . . (619)851-3784 Thatcher Properties, Inc. . . . . . . . . . . . . . (619)286-4250 The Dylan | Afton Properties . . . . . . . . . . (760)439-2752 The Helm Management . . . . . . . . . . . . . . (619)589-6222 The Legacy Real Estate Company . . . . . (619)980-7467 The Phillips Group- Property Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)407-8729 The Premiere Residential, LLC . . . . . . . . (858)455-7711 The Rey Apartments | Berkshire Communities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (408)614-5587 The Townsend | Dinerstein . . . . . . . . . . . . (858)481-4808 Torrey Pines Property Management . . . . (858)454-4200 Trilar Management Group . . . . . . . . . . . . (760)929-4940 U UDR, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . (720)283-6120 V Valentina by Alta . . . . . . . . . . . . . . . . . . . . (619)391-2700 Valor Property Management . . . . . . . . . . (619)771-2600 W Whispering Oaks Apartments | Greystar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)471-1262 Willin Properties . . . . . . . . . . . . . . . . . . . . . (619)298-0500 Winn Residential . . . . . . . . . . . . . . . . . . . . (559)435-3434 Z Zimmerman Property Management . . . . (619)546-5361

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

forward-thinking. Now, Gen Z is not as concerned with recreation or downtime at the office, rather a financial investment in their future. However, stock options and a standard 401(k) won’t cut it when they are actually searching for “student loan assistance, tuition reimbursement, and maternity and paternity benefits.” This generation values a work-life balance and is highly optimistic for the future, so these types of benefits will not only attract but also encourage them to stay and take advantage of these opportunities.

Gen Z job seekers cite a commitment to diversi important factor in dec whether or not to accep Here it is very importan company to talk the tal the walk. Diversity and cannot just be a phrase company’s mission stat a committee that meets quarter. This dedication to be seen in initiatives asking one’s pronoun p adequate accommodati those who are different policies to ensure fair a pay, etc.

They Want to See Diversity and Inclusion This highly educated, highly Since 1956 diverse generation is craving 3 or more units to an LLC, Corp, or Partnership – 5 or more units to individuals and other entities. a passion and Loans subject to borrower and property qualifications. Brokered originations are not eligible. Otherdedication to restrictions may apply. All rates, fees, terms and programs are subject to change without notice diversity and except as required by law. ©2022 Provident Bank. NMLS #449980. All rights reserved. Member FDIC.inclusion from their REV0122 | 855-217-3541 employers. As a result, “86% of

They Want an Offer, a Want it NOW Standard HR procedure it difficult to establish a committee and follow t protocol when extendin Gen Z wants no part of

Low cost financing for Multi-Family1 Apartment properties.

Refinance today, beat inflation and higher rates tomorrow! JERRY FURLONG

NMLS #1951320 Vice President, Commercial Loan Officer (949) 940-5950 | JFurlong@myprovident.com

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JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

24 | Southern California Rental Housing Association Rental Advisor April 2022

1031 EXCHANGE SERVICES, & TRUST SERVICES Blueprint Equity . . . . . . . . . . . . . . . . . . . . . (310)383-6597 ADVERTISING & MARKETING Rent Dynamics . . . . . . . . . . . . . . . . . . . . . (435)669-4628 Zumper . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)264-6429 Financial Designs, Ltd. . . . . . . . . . . . . . . . (858)597-1980 Innovative Building Materials . . . . . . . . . . (813)997-3152 Apartments.com . . . . . . . . . . . . . . . . . . . . .888.658.7368 APARTMENT BROKERAGE/SALES Doug Taber CCIM - Rental Housing Broker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)483-1031 APPLIANCE PARTS & REPAIR Appliance Parts Company . . . . . . . . . . . . (480)755-5540 APPLIANCE SALES R & B Wholesale Distributors, Inc. . . . . . (909)230-5400 ASPHALT & ASPHALT MAINTENANCE AMS Paving, Inc. . . . . . . . . . . . . . . . . . . . . (858)880-6133 ATTORNEYS-AT-LAW Heinz & Feinberg . . . . . . . . . . . . . . . . . . . . (619)238-5454 Todd A. Brisco & Associates, APC . . . . . (714)634-2814 Buchalter, A Professional Corporation (619)929-5448 Ted Smith Law . . . . . . . . . . . . . . . . . . . . . . (619)610-9332 COLLECTIONS / EVICTIONS Kimball, Tirey & St. John LLP . . . . . . . . (6190234-1690 BACKFLOW TESTING Pacific Backflow Company, Inc. . . . . . . . (760)639-4000 San Diego Backflow Testing, Inc. . . . . . . (619)916-8054 BANKS / FINANCIAL SERVICES; / ENDERS Chase Commercial Term Lending . . . . . (619)464-1597 BATHROOM REFINISHING Pacific Bathtub Refinishers Inc. . . . . . . . . (619)772-2535 TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Citiwide Restoration . . . . . . . . . . . . . . . . . (858)231-2801 BATHROOM REMODELING & REFINISHING American Bathtub Refinishers . . . . . . . . . (619)265-8126 BROKERAGE Doug Taber CCIM - Rental Housing Broker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)483-1031 CABINET AND COUNTERTOPS Designer Quartz . . . . . . . . . . . . . . . . . . . . . (702)325-1580 TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Dixieline . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)358-8188

CABLE TELEVISION Cox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (949)563-8176 CARPET CLEANING Cleanology Housekeeping Personnel Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)281-2532 CARPET SALES & FLOORING America’s Finest Carpet Company . . . . . 800.888.1568 J & C Carpet Company . . . . . . . . . . . . . . .619.498.1424 Sid’s Carpet Barn, Inc. . . . . . . . . . . . . . . . . 619.477.7000 KJ Carpet Wholesale . . . . . . . . . . . . . . . . (909)455-0180 CLEANING & JANITORIAL SERVICES Sea Crest Services, Inc. . . . . . . . . . . . . . . (877)536-2777 CLEANING & JANITORIAL SERVICES DAPA Janitorial Services Inc. “Customized Cleaning Soultions” . . . . . . . . . . . . . . . . . . . . . . . . . . (619)221-9292 Pacific Coast Cleaning, Inc. . . . . . . . . . . . 858.565.1603 SD Construction Cleaning & Janitorial LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)534-1189 Professional Maintenance Systems, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)549-1821 COIN-OPERATED LAUNDRY EQUIPMENT All Valley Washer Service . . . . . . . . . . . . . 800.247.1100 WASH Multifamily Laundry Systems (800)421-6897 Washtek, Inc. . . . . . . . . . . . . . . . . . . . . . . . 760.735.2495 CONSTRUCTION & REMODELING Dexcore Restoration . . . . . . . . . . . . . . . . . (619)993-3417 TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Matrix Construction Services . . . . . . . . . (951)493-0100 Fast Affordable Restorations . . . . . . . . . . 858.449.7294 McMillin Contracting Services . . . . . . . . . 619.401.7000 Larry O’Dell Construction . . . . . . . . . . . . . 619.501.5252 Workright Property Services Inc . . . . . . . . (858)751-6312 General Coatings Corporation . . . . . . . . (858)587-1277 Southern Cross Property Consultants (858)945-2629 Parra Building Consultants, Inc. . . . . . . . . (619)540-2000 COURTESY PATROL Signal 88 Security of San Diego . . . . . . . (619)363-7233 City Wide Protection Services, Inc . . . . . (619)929-2628 DECK COATING Life Deck Coating Installations . . . . . . . . (619)262-8600 General Coatings Corporation . . . . . . . . (858)587-1277 DRAWERS & DRAWER PULLS TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 EDUCATION Grace Hill, Inc. . . . . . . . . . . . . . . . . . . . . . . (404)895-9570 ELECTRICAL CONTRACTORS Kennedy Electric . . . . . . . . . . . . . . . . . . . . 619.582.6568 EMERGENCY SERVICE FLOOD/ FIRE CommercialRestoration Company . . . . . (858)922-3218 J & M Keystone Restoration & Emergency Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)466-9876 BELFOR Property Restoration . . . . . . . . (858)847-9886 ATI Restoration, LLC . . . . . . . . . . . . . . . . . (619)318-2807 EMPLOYMENT AGENCY The Liberty Group . . . . . . . . . . . . . . . . . . . (951)744-0057 The Phoenix Staffing Company . . . . . . . . 855.222.4136 ENERGY EFFICIENCY CONSULTING ICF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (503)816-6002 ENVIRONMENTAL: ASBESTOS/ LEAD/ MOLD Alliance Environmental Group, Inc. . . . . . (626)633-3500

Superior Abatement Services, Inc. . . . . . (619)458-1763 EXTERMINATORS & PEST CONTROL Lloyd Pest Control . . . . . . . . . . . . . . . . . . . (619)668-1958 FINANCIAL SERVICES MyPoint Credit Union . . . . . . . . . . . . . . . . (858)268-7203 FIRE EQUIPMENT SALES & SERVICE Symons Fire Protection . . . . . . . . . . . . . . (619)588-6364 Bay Alarm Company . . . . . . . . . . . . . . . . (858)205-7223 A-Tech Systems . . . . . . . . . . . . . . . . . . . . (909)444-9695 Standard Electronics . . . . . . . . . . . . . . . . . (619)596-9950 CVA Security . . . . . . . . . . . . . . . . . . . . . . . . (619)726-8200 Time and Alarm Systems . . . . . . . . . . . . . (858)245-1188 FITNESS EQUIPMENT & SALES Advanced Exercise . . . . . . . . . . . . . . . . . . (303)996-0048 Opti-Fit . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)822-7370 FLOOR COVERINGS TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Redi Carpet Sales of California , LLC (858)576-8400 Star Flooring & Remodeling . . . . . . . . . . . (619)282-4000 FURNITURE RENTALS Cort Furniture Rental . . . . . . . . . . . . . . . . . (858)549-0800 GENERAL CONTRACTORS BluSky Restoration Contractors, LLC (858)336-9695 Camp Construction Services . . . . . . . . . (713)413-2267 FSI Construction . . . . . . . . . . . . . . . . . . . . (713)690-5330 M. C. Contracting Service . . . . . . . . . . . . (619)282-3083 HEATING & AIR CONDITIONING Sam’s Heating and Air Conditioning, Inc. 619.697.9824 INSURANCE Farmers Insurance McWhirter Agency (619)463-7320 Snapp & Associates Insurance Services, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)254-9478 LeaseLock . . . . . . . . . . . . . . . . . . . . . . . . . (310)906-2910 State Farm Insurance Kathy Jurgensen (951)225-4940 INTERIOR FINISHES TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 INTERNET ADVERTISING SERVICE Apartments.com . . . . . . . . . . . . . . . . . . . . .888.658.7368 RAPIDSOFT SOLUTIONS . . . . . . . . . . . . (619)752-4929 Cox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (949)563-8176 Dish Fiber . . . . . . . . . . . . . . . . . . . . . . . . . . (951)201-3544 Quantum Fiber . . . . . . . . . . . . . . . . . . . . . . 360.931.9864 LANDSCAPE MAINTENANCE & SERVICE MSE Landscape Professionals, Inc. . . . . (442)257-4229 New Way Landscape and Tree Service (858)505-8300 Pacific Green Landscape, Inc. . . . . . . . . (619)390-9962 LEAK DETECTION;SEWER & DRAIN LINE VIDEO Cable, Pipe & Leak Detection, Inc. . . . . . 619.873.1530 LENDERS Luther Burbank Savings . . . . . . . . . . . . . . (858)436-1819 LIGHTING TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 MAINTENANCE & REPAIR PCC Trip Hazard Removal . . . . . . . . . . . . 760.658.6116 A & PM, Inc. . . . . . . . . . . . . . . . . . . . . . . . . (858)722-5953 Pacific InterWest Building Consultants (925)939-5500 MAINTENANCE SUPPLY HD Supply . . . . . . . . . . . . . . . . . . . . . . . . . (858)226-9671 MARKET RESEARCH ALN Apartment Data . . . . . . . . . . . .(800)643-6416x218

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

MARKETING & ADVERTISING RentPath . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)220-8521 SOCi, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . (858)225-4110 PAINT MANUFACTURERS & SUPPLIES Behr Paint . . . . . . . . . . . . . . . . . . . . . . . . . . (619)772-2170 Dunn-Edwards Corporation . . . . . . . . . . (619)884-3866 PAINTING General Coatings Corporation . . . . . . . . (858)587-1277 Pro-Tech Painting Company . . . . . . . . . . 858.527.0200 PARKING ENFORCEMENT PARKING MANAGEMENT SOFTWARE Reliant Parking Solutions . . . . . . . . . . . . . (888)977-6848 PAVING MAINTENANCE Eagle Paving . . . . . . . . . . . . . . . . . . . . . . . . (858)486-6400 AMS Paving, Inc. . . . . . . . . . . . . . . . . . . . . (858)880-6133 PEST CONTROL Kilter Termite and Pest Control . . . . . . . . (714)348-0488 ATCO Pest Control . . . . . . . . . . . . . . . . . . (760)418-4573 PROPERTY MANAGEMENT Wakeland Housing & Development . . . . (619)326-6213 Rowland Realty . . . . . . . . . . . . . . . . . . . . . (619)223-1621 PROPERTY MANAGEMENT PERSONNEL BG Multifamily . . . . . . . . . . . . . . . . . . . . . . (619)785-3164 Link Staffing Services . . . . . . . . . . . . . . . . (858)874-3334 InterSolutions . . . . . . . . . . . . . . . . . . . . . . . (858)381-4378 PROPERTY MANAGEMENT SOFTWARE Domuso . . . . . . . . . . . . . . . . . . . . . . . . . . . . (469)286-9619 SafeRent Solutions . . . . . . . . . . . . . . . . . . (419)367-7615 AppFolio . . . . . . . . . . . . . . . . . . . . . . . . . . . (805)308-6274 Yardi Systems . . . . . . . . . . . . . . . . . . . . . . (805)699-2040 HappyCo . . . . . . . . . . . . . . . . . . . . . . . . . . (510)239-1868

RATIO UTILITY BILLING SYSTEMS & SUBMETERING / BILLING SERVICES & WATER CONSERVATION Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (877)789-6027 REAL ESTATE ACI Apartments Office . . . . . . . . . . . . . . . . (619)725-3624 Voit Real Estate Services . . . . . . . . . . . . . (858)458-3337 Lee & Associates Commercial RE . . . . . (760)929-7846 RENOVATIONS & REMODELING TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 REPUTATION MANAGEMENT SatisFacts Research . . . . . . . . . . . . . . . . . (866)655-1490 RESIDENT RETENTION SatisFacts Research . . . . . . . . . . . . . . . . . (866)655-1490 ShipIT dba ShipMagic . . . . . . . . . . . . . . . . (209)576-5013 RESIDENT SURVEYS SatisFacts Research . . . . . . . . . . . . . . . . . (866)655-1490 ROOFING AMS Construction . . . . . . . . . . . . . . . . . . . (949)388-0289 Commercial & Industrial Roofing . . . . . . (619)465-3737 DILS Roofing & Exteriors . . . . . . . . . . . . . (760)727-6000 Sully-Jones Roofing . . . . . . . . . . . . . . . . . (800)611-3110 A-1 All American Roofing Company . . . . (858)539-9113 Guardian Roofs . . . . . . . . . . . . . . . . . . . . . (714)633-3619 SECURITY GUARD PATROL Security First . . . . . . . . . . . . . . . . . . . . . . . . (619)243-3992 Securitas Mobile Guarding . . . . . . . . . . . . (619)214-4919 SECURITY SERVICES California Safety Agency . . . . . . . . . . . . . .866.996.6990 JDS Security . . . . . . . . . . . . . . . . . . . . . . . . (619)781-8694 Bald Eagle Security Services, Inc. . . . . . (619)230-0022 Stealth Monitoring . . . . . . . . . . . . . . . . . . . (214)341-0123 Signal 88 Security of Oceanside - Escondido . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (877)779-7980

SEISMIC RETROFIT Optimum Seismic . . . . . . . . . . . . . . . . . . . (818)625-2908 SMART TECHNOLOGY ADT Smart Communities . . . . . . . . . . . . . (562)712-7504 Company Ivy Energy . . . . . . . . . . . . . . . . (858)682-3489 Hotwire Communications . . . . . . . . . . . . (954)809-9577 SUBMETERING / BILLING SERVICES Conservice Utility Billing & Mgmt . . . . . . (602)481-7440 TELEPHONE SERVICES Cox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (949)563-8176 TENANT SCREENING KCB Screening LLC . . . . . . . . . . . . . . . . . (714)384-7047 TOWING SERVICES Western Towing . . . . . . . . . . . . . . . . . . . . . (619)997-0904 TRAUMA SCENE CLEAN UP BIO-ONE of Poway . . . . . . . . . . . . . . . . . . (858)261-4527 TREE SERVICES Four Seasons Tree Care . . . . . . . . . . . . . . (760)705-7751 WASTE MANAGEMENT WasteXperts, Inc . . . . . . . . . . . . . . . . . . . . 858.677.0881 WATER DAMAGE RESTORATION Generation Contracting & Emergency Services, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)679-9928 WATER DAMAGE RESTORATION Restoration Management Company . . . . (858)935-1170 SERVPRO of Sorrento Valley . . . . . . . . . . (575)420-3885 Hometown Restoration . . . . . . . . . . . . . . (858)663-8330 WATERPROOFING General Coatings Corporation . . . . . . . . (858)587-1277 WINDOWS Milgard Manufacturing - Temecula . . . . . (951)334-1584 Newman Windows and Doors . . . . . . . . (760)438-8080

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JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

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Company Name ___ _ _ _ _ ___________________ First Name___ _ _ _ _ _ _ _ Last Name _______________ Address ________________ _

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SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

1031 EXCHANGES 1031 Capital Solutions . . . . . . . . . . . . . . . . . . . . . . . . 17 Kay Properties & Investments . . . . . . . . . . . . . . . . . . 44 AIR-CONDITIONING

Red Tower Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 COUNTERTOPS Lowe’s Pro Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 CREDIT CHECKS

LEGAL & EVICTION SERVICES Dennis P. Block & Associates . . . . . . . . . . . . . . . . . . 11 PEST / TERMITE CONTROL XTermite . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 PROPERTY MANAGEMENT

AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46

ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58

Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67

DECKING & STAIRS / MAGNESITE / WATERPROOFING

Griswold Real Estate Management . . . . . . . . . . . . . 43

Genie Air Conditioning . . . . . . . . . . . . . . . . . . . . . . . . 18

Life Deck. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

LRS Property Management . . . . . . . . . . . . . . . . . . . .52

Lowe’s Pro Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 APARTMENT ASSOCIATIONS Southern California Rental Housing Association . . . 4 APPLIANCE SALES AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 ASPHALT MGB Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 BACKGROUND SCREENING ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 BATHROOM REMODELING / REGLAZING American Bathtub Refinishers . . . . . . . . . . . . . . . . . . 23 Lowe’s Pro Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 CABINETS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 COIN-OP LAUNDRY SALES Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67

EARTHQUAKE RETROFITTING & ENGINEERING ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 ELECTRICAL SERVICES Kennedy Electric. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 ENERGY SAVING / REBATES Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 ENGINEERING ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 FINANCIAL / ESTATE PLANNING Financial Designs, Ltd. . . . . . . . . . . . . . . . . . . . . . . . . 60 Red Tower Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 HEATING Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 Genie Air Conditioning . . . . . . . . . . . . . . . . . . . . . . . . 18 INSURANCE Newfront Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . .66 INTERNET SERVICE PROVIDER

San Diego Laundry Equipment . . . . . . . . . . . . . . . . .38

DISH Fiber . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

WASH Laundry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

Lumen Quantum Fiber . . . . . . . . . . . . . . . . . . . . . . . .28

COLLECTIONS Dennis P. Block & Associates . . . . . . . . . . . . . . . . . . 11 COMMERCIAL LENDING

Luther Burbank Savings . . . . . . . . . . . . . . . . . 50 Provident Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

KITCHEN REMODELING AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Lowe’s Pro Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 LEAK DETECTION Cable, Pipe & Leak Detection, Inc . . . . . . . . . . . . . . 21

PROPERTY MANAGEMENT SOFTWARE YardiBreeze . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 RATIO UTILITY BILLING Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 RENT COLLECTION / PAYMENT PROCESSING PayRent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44 SEISMIC RETROFIT / SOFT STORY ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 TOWING / PARKING CONTROL / SIGNAGE Western Towing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 TENANT SCREENING ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 TOILETS/SINKS/FAUCETS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Lowe’s Pro Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 UTILITIES REBATES Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 WATER HEATERS/BOILERS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 Lowe’s Pro Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 WINDOWS & DOORS Lowe’s Pro Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 SIVAN Windows & Doors . . . . . . . . . . . . . . . . . . . . . . 65

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JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

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REPLACEMENT DOORS & WINDOWS

EXTERIOR & PATIO DOORS • FRENCH SLIDING DOORS INSTALLATION RETRO-FIT WINDOWS FIBERGLASS, VINYL, CUSTOM WINDOWS AND MORE.

NEW! TRINSIC™ SERIES | V300 ALL BLACK VINYL!

Purchase direct from wholesaler. No pushy sales people. We help you choose the perfect window or door plan to fit your needs.

BEST GUARANTEE

PRICE

SPECIAL

per month*

WHOLE HOUSE

6 WINDOWS + 1 PATIO DOOR

*Any finance terms advertised are estimates only with an interest rate of 2.99% for 60 months on approved credit through a third-party lender. This offer not valid with any other offer and cannot be combined. Some restrictions may apply on window and door sizes. Discount applied by representative at the time of contract execution. Expires END-OF-MONTH

VISIT OUR SHOWROOM CALL NOW FOR A FREE ESTIMATE!

888.383.6798

LIC # 1000582

SivanWindowsandDoors.com

9596 Chesapeake Drive Suite B. San Diego, CA 92123 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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Get Your FREE Quote

To take advantage of these exclusive readership savings, please go to www.ANPSavesU.com or call (855) 830-8954 66

JULY 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

FAM OUS FOR VALUE

aztecappliance

Huge Clearance Center Largest Selection in San Diego Famous quality and value since 1974 Professional Delivery, Installation, & Haul Away Property Management & Commercial Accounts Welcome

100’S OF MODELS AND BRANDS TO CHOOSE FROM! CHECK OUT THE OPEN BOXES, DISPLAY M ODELS, AND DISCONTINUED ITEMS FOR FAMOUS SAVI NGS! Famous for Customer Value since 1974! Trusted for “On Time” service for 37 Years! Providing the Multi-Unit Housing community with value and service Experienced Associates to assist you with: Brand name products, sales, selection, and service The Right Product, for the Right Application to Rent that empty unit, or complete your home’s remodel! Most items available for same-day will call, or order by noon-have it delivered the next day!

LAUNDRY ROOM, REFRIGERATORS & FREEZERS, MATTRE SS SETS, COIN-OPERATED WASHERS, DRYERS, DISHWASH ERS, DISPOSERS, TRASH COMPACTORS, RANGES, OVENS, COOKTOPS, VENTILATION, OUTDOOR APPLIA NCES, WATER HEATERS & ACCESSORIES

We Welcome Residential and Commercial Clients. Serving San Diego since 1974! 4070 Kearny Mesa Road, San Diego, CA 92111 Phone: (619) 236-0616 (ask for Joan) E-Mail:Joan@aztecappliance.com Mon.-Fri. 8:30am-5:30pm Sat 10am-4pm Sat. 10am-4pm

APARTMENT MANAGEMENT MAGAZINES

PRESORTED STANDARD U.S. POSTAGE PAID LOS ANGELES, CA PERMIT #1831

Real Estate Investment Opportunity Investment Highlights

9.25% Annualized

✔ 9.25% Annualized Distribution Potential*

Distribution Potential*

✔ Monthly Payments via ACH*

with monthly payments via ACH*

✔ Minimum Investment $50,000 ✔ Projected Hold Period: 4 Years with a limited liquidity feature ✔ Available for IRAs and 401ks

LEARN MORE! coveaptmgtmag.com 1.866.558.4272

✔ Accredited investors only

FOR INVESTORS SEEKING: ✔ MONTHLY INCOME POTENTIAL

✔ ALTERNATIVE TO INCREDIBLY LOW RETURNS AT THE BANK

✔ ALTERNATIVE TO STOCK MARKET VOLATILITY

Scan for more info! This offering is a Regulation D, Rule 506c offering. This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Limited Liability Company owned (LLC) properties, LLC interests, promissory notes, and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and net leased properties, short term leases associated with net leased properties after the primary lease term has decreased, financing risks, potential adverse tax consequences, general economic risks including the effects of pandemics and civil unrest, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, p otential r eturns, potential tax benefits and potential appreciation are not guaranteed. For an investor to qualify for any type of investment, there are both financial requirements and suitability requirements that must match specific objectives, goals and risk tolerances. Securities offered through FNEX Capital, member FINRA, SIPC. Cove Capital Investments, LLC and FNEX Capital are separate entities.