Southern California Rental Housing Association Rental Advisor Magazine - April 2024

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2024 EXECUTIVE OFFICERS

President

Aiesha Blevins, Greystar

President-Elect

Buck Buchanan, Buchanan Property Management Corp.

Vice President

Todd Henderson, Independent Owner

Secretary

Matt Ruane, Liberty Military Housing

Treasurer

Abigail Rex, American Assets Trust, Inc.

MAGAZINE STAFF

Publisher Apartment News Publications, Inc.

Design & Layout Travis Watson, Production Director Editorial Review Lindsey Lee, Marketing Manager

ASSOCIATION STAFF

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

Allison P ster, CPM®, ARM®,

Legislative Chair Greystar

Immediate Past President

Lucinda Lilley, CPM®, CAPS®, GRI®,

Bridging In uence

2024 DIRECTORS

Alex Winborn, H.G. Fenton Company

Eric Sutton, Creaser & Warwick, Inc.

Jennifer Ford, Douglas Allred Company

Kayla Roeder, CPM®, ARM®,

Cambridge Management Group, AMO®

Kimmi McBryde, Cushman Wake eld

Lisa Mason, Baldwin & Sons

Lorri Goldmann, Avenue 5 Residential

Mark Feinberg, Heinz & Feinberg

Patrick Kappel, Dandy Lion Real Estate

Scott Ledesma, Generation Contracting & Emergency Services, Inc.

Shannon Kelly, Independent Owner

Molly Kirkland, mkirkland@socalrha.org 858.751.2200

Kim Zebroski, kzebroski@socalrha.org 858.751.2220

Lindsey Lee,PCM Digital Marketing, CDMP, Marketing Manager llee@socalrha.org 858.751.2218

Alma Macias, Operational Advisor amacias@socalrha.org 858.278.8070

Braden Haycock, Education Manager bhaycock@socalrha.org 858.751.2219

Evan Prado, Events Coordinator eprado@socalrha.org 858.7521.2214

ADVERTISE: Contact the team at Apartment News Publications, Inc. at 714-893-3971 or email scrha@aptnewsinc.com for advertising information, including rates, production

SCRHAHousingProvider&Resident RightsandResponsibilities

OURVISION

Reenvisioningquality housingforall

OURMISSION

Tocreateathriving rentalhousing communitythrough advocacy,education, andcollaboration

AsmembersoftheSouthernCaliforniaRentalHousing Association,wearepartnersincreatingathrivingcommunity byprovidingqualityrentalhousingforall.Wevalueour residents,ourfellowmembers,andourcommunityandare workingtosupportahealthyhousingecosystemthrough advocacy,education,andcollaboration.

Ashousingproviders,webelievewehavetheresponsibilityto provideCaliforniarenterswith:

Qualityhousingwithhabitableandhealthylivingconditions. Freedomfromarbitraryeviction,retaliation,or discriminationinlinewithallfederalandstatefairhousing laws.

Fairandequalresidentprotectionsandpoliciesthatbalance theneedsofrenters,housingproviders,andthecommunity. Avoiceinhousingdecisionswithrespectandaccessequal tothatofhousingproviders.

Aninnovativeandcollaborativehousingecosystemwhere government,businesses,housingproviders,andrental advocatesworktogethertosolvetheregion’shousingissues byidentifyingtheunderlyingproblemsandcrafting balancedsolutions.

Adherencetohousingqualityandequitystandardsand regulations.

AllCaliforniarentersalsohavearesponsibilitytotheirhousing providerto:

Reviewandfollowrentalagreementterms,includingtimely rentalpayments.

Maintainacleanandhabitablehome.

Beagoodneighborbyrespectingothers’peaceandquiet. Providetimelyreportingofanyissuesandnecessaryrepairs.

Keepopenlinesofcommunicationwiththepropertyowner ormanager.

A2024 President Southern California Rental Housing Association

President’s Message:

Defending Our Industry

s we embark on the second quarter of the year, it’s clear that 2024 will be a turning point for rental housing providers. The adage, elections have consequences, has never been truer, especially for rental housing providers throughout California.

We have faced serious threats and successfully defeated numerous attempts to repeal CostaHawkins and statewide rent control. Even though the industry worked together to defeat Prop 10 in 2018 and Prop 21 in 2020, we are once again facing a critical threat to the industry with the “Justice for Renters Act” ballot initiative that is on the ballot in November 2024.

I want you to know that the Southern California Rental Housing Association is working with our statewide coalition, California Rental Housing Association (CalRHA) to raise $5 million to defeat Mr. Weinstein by a large enough margin that he doesn’t waste his time and try again.

To help aid this coordinated effort, the SCRHA Board of Directors implemented a voluntary Political Action Committee donation of $7.39 per unit. These funds will help inform voters of the true consequences of these policies through comprehensive campaigns appearing on television, digital channels, and print media. Polling shows that with the right messaging, we can convince voters of the measure’s flaws. But this comes with a price tag.

We understand that you are operating an essential business in a challenging environment, so we do not make this ask lightly. Currently, San Diego, Riverside, and Imperial Counties do not have rent control. If this

initiative passes, policies that once only impacted rent-controlled communities will impact EVERY rental unit in the state.

If passed, the “Justice for Renters Act” will:

• Eliminate Cost- Hawkins Protections, allowing local governments to impose and expand rent control to include single-family homes, condominiums, and new developments.

• Eliminate rent increases upon vacancy (vacancy decontrol).

These changes will mean that you may face strict policies that currently only impact rent-controlled communities and the exemptions in the Tenant Protection Act (AB 1482) will likely go away.

Before you say that you can’t afford to contribute, ask yourself if you can afford to answer to unelected rent control boards or if you can afford to be prohibited from raising rents to fair market value when your unit becomes vacant These impacts are only the start, with many additional impacts still unknown. This is the year to make a powerful statement and support the fight against rent control by contributing $7.39 per unit.

We have the tools in place to fight for your business, but your support is critical. I encourage you to contribute to our efforts to defend the industry and share our message with your friends, family, and colleagues. It will take all of us working together to defeat this latest attempt to enact statewide rent control.

SouthernCaliforniaRentalHousingAssociation isthrilledto inviteyoutothe2024RentalHousingConference&EXPO.

Getreadyfor"AnotherDayinParadise"aswebringyoua dayfilledwithexploration,connection,andeducation on Thursday,April25from8:30AMto3:00PM.

LearningtoRecognizeFraud DanFirestone,CICReporting

CaliforniaBalconyandDeckInspectionRequirements MatthewBoomhower,Esq.,AIA,SouthernCross PropertyManagementConsultants

TipsforCommunicatingwithAnyResident DariDeSousa,NationalConflictResolution Center

LegislativeIssuesandAdvocacyQ&A MollyKirkland,SCRHADirectorofPublicAffairs

SCRHAOwnerorPropertyManagerMembers: $15IndividualTickets

OwnerorPropertyManagerNon-Members: $30 LunchVoucher: $35

AAlan Pentico, CAE

Executive Director Southern California Rental Housing Association

Executive Director’s Message: A Busy Spring at SCRHA

pril is one of my favorite months here at the Association Spring is in bloom, and some of my favorite events of the year are just around the corner. I’d like to take a minute to thank the hardworking volunteers on the Education and Events Committees. They have put together “Another Day in Paradise” with five educational seminars, a full tradeshow, prize giveaways, and an exciting new competition with Maintenance Showdown!

You won’t want to miss this incredible day of education, networking, and fun. Your ticket includes access to all educational sessions, including the keynote address with Lisa Trosien of Apartment All Stars and an information-packed Legislative Update from SCRHA’s Director of Public Affairs, Molly Kirkland.

We’re very excited to announce our inaugural Maintenance Showdown Competition that will take place in the afternoon at EXPO Maintenance teams will compete in a Jeopardy-style game to show off their knowledge and hands-on skills. Whether you’re ready to show off your skills or want to cheer on your favorite team, the Maintenance Showdown is sure to be a thrilling competition.

April is also Fair Housing Month and commemorates President Lyndon Johnson signing the Fair Housing Act into Law in 1968 This landmark legislation affects all rental housing providers, and it’s vital that you understand how to comply with both federal and California Fair Housing laws. Attend our Fair Housing Part I & II training on April 9 to refresh your knowledge and earn continuing education credits towards your credential.

This spring, we were also busy moving! Our new address is 9655 Granite Ridge Drive, Suite 200, San Diego, California, 92123 While we love to meet up with our members, in-person visits to our office will be made by appointment only. You will need to call the office at 858.278.8070 or email info@socalrha.org to schedule your appointment.

As part of this move, our classes will be online webinars unless otherwise noted. You will need to log in to your Member Compass to join the webinar You can find tutorials online at socalrha.org or call us if you need help accessing your account.

It’s been a busy few months, and the pace is only going to pick up as we get closer to the November election. I would like to thank everyone who has supported our efforts to defend the industry by contributing to the SCRHA-PAC. Your donations will fund the fight against rent control, and it will take all of us working together to succeed.

Now let’s get out there and enjoy the beautiful weather!

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Tom Brady Company

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Barry Treahy Company

Dennis and Marian Pierce

Jesus and Yolanda Arroyo

Betty Bark Company

David M. Pierce

Tamra Fuller Fountas

Buchanan Property Management Corp.

Brian Steer Company

Eagle Property Management Arbors at California Oaks Apartment Homes

JDS Security

Silverado Apartments (RCMI)

SatisFacts Research

Welcome New Members

PROPERTY MANAGERS

Dwell Management Co.

Whittington Property Management Inc.

INDEPENDENT OWNERS

Andrea Deckwerth and Evan Galbo

Cambridge Holdings

Compass

Daniel Hecko - Company

Daniel MacDonald & Stephen Leonard

Diana Parmar Company

GLO Company

Integrity Housing

Judith Kramer Company

SUPPLIERS

ESA Multifamily Energy Savings Program

Executive Coatings & Contracting

HandyTrac Systems

Lowes Pro Supply

M. Elliott

Martin Grover

Parkline North Park | Greystar

Suzanne Papike Company

Tony Tian

Vanessa Herbert Company

Villa De Estes Apartment

Watson Properties

Zig Capital LLC

Pfister

Sprint Postal Products

VITALITY IO, Inc.

WithMe

Voices of the Industry

9:15 am

10:00 am

11:00 am

1:00 pm

Presented by the Apartment Association of Greater Los Angeles

May 15th, 2024 - 9am-3pm - Pasadena Convention Center

2:00 pm SCHEDULED

SPEAKERS

STAGE 1 (HALL A)

THE MOST EXISTENTIAL THREAT TO RENTAL HOUSING: PROPOSITION 21

Daniel Yukelson, Executive Director, Apartment Assn. of Greater Los Angeles

Matt McGarty, Media Strategist and Campaign Manager, Russo McGarty & Assoc.

Rent Control is Back on the Ballot in 2024 – Learn What You Must Do to Defeat It! The Proposed Justice for Renters Act Will Strip You of Your Property Rights!

Learn what you can do to help defeat this latest attack on rental housing providers. We did it in 2018 and 2020, we can do it again in 2024!

WHAT CAN LANDLORDS DO? WHAT CAN’T THEY DO? WHO THE H#!! KNOWS ANYMORE? EVICTION ATTORNEY MIKE BRENNAN KNOWS!

Mike Brennan | Brennan Law Firm

Come discover the “New Normal” in evictions and landlord/tenant matters in southern California. From rent control to tenant protections, discover the new eviction landscape and the strategies for navigating it.

DISCOVER THE TOP 5 MUST DO TAX STRATEGIES FOR REAL ESTATE INVESTORS

Tony Watson | E.A., NAEA Fellow, Robert Hall Taxes & Associates

Embark on a tax-saving journey with Tony Watson, a trusted Tax Advisor from Robert Hall & Associates, in our upcoming webinar, “Discover the Top 5 Must Do Tax Strategies for Real Estate Investors.” Tony’s wealth of experience is your key to unlocking a realm of financial opportunities within the real estate landscape.

LEGAL HOUR WITH THE ONE & ONLY DENNIS BLOCK

Dennis Block | Dennis P. Block & Associates

Dennis P. Block is the founder and managing partner of the LAW FIRM OF DENNIS P. BLOCK AND ASSOCIATES. The firm specializes in residential and commercial eviction of tenants. Founded in 1976, the firm has become the leading eviction law firm in tenant eviction in the State of California. To date, the firm has handled over 200,000 tenant evictions in California.

USING 1031 EXCHANGES TO UPGRADE YOUR PORTFOLIO & AN OUTLOOK ON THE REAL ESTATE MARKET

Rusty Tweed | TFS Properties

We are in uncertain economic times and many investors are unsure as to what will happen to the real estate market. Join TFS as we take a look at what to expect in the latter half of 2022 & how you can use a 1031 Exchange to better position yourself for this recession.

GUEST APPEARANCES & EXPERT ADVICE

“A

MINUTE WITH WIDGET” – PROPERTY MANAGEMENT CONSULTING

Access the best advice on any property management or landlord and tenant related issue. Trying to navigate through the constant challenges of becoming the best landlord can often feel like it’s one hell of a lonely road. It’s a constant fight between staying on top of the most recent changes in legislation, keeping your rental units in habitable conditions and trying to keep your rentals off the market! When all three of these conditions are met, we have happy landlords, happy tenants and steady cash flow.

(Guest Appearance will be made in the AAGLA Booth throughout the day)

11:00 am

SCHEDULED SPEAKERS

STAGE 2 (HALL B)

HOW DELAWARE STATUTORY TRUSTS CAN HELP INVESTORS INCLUDE BOTH ANCHOR AND BUOY INVESTMENT ASSETS IN THEIR PORTFOLIOS.

Orrin Barrow | Senior Vice President, Kay Properties & Investments

One of the unique things about Delaware Statutory Trust investments is they allow investors to include a variety of properties with different investment goals. For example, a DST portfolio can include properties that have flexibility to increase potential returns throughout the lifecycle of the asset depending on market conditions, and properties that are designed to deliver stable, reliable income over a long-term basis.

SB721/SB326 EXPLAINED, WITH ADUS AND SEISMIC RETROFITTING

11:30 am

Helen Fower & David Tashroudian | One Structural Own a condo or building with 3 or more units? Learn how to comply with SB721 & SB326 - every step you need to know! Also hear about increasing monthly income with ADUs and complying with seismic retrofitting.

OUTSMARTING TENANT APPLICATION SCAMS

12:00 pm

Kari Negri | SKY Properties

An eye-opening seminar on tackling the escalating issue of tenant application fraud and safeguarding your property investments. Learn how to outsmart scammers, detect red flags, and ensure a secure rental environment for all.

CURRENT LEGAL STRATEGIES FOR EVICTION AND RENT COLLECTION

Edrin Shamtob | Senior Attorney, SNS Law Group LLP

2:00 pm

Edrin Shamtob is the senior attorney of SNS Law Group LLP with nearly a decade of experience specializing in commercial and residential evictions and unlawful detainer actions. Edrin has successfully litigated hundreds of cases for both plaintiffs and defendants in a variety of disputes including eviction and landlord/tenant actions. Edrin has successfully litigated hundreds of cases for both plaintiffs and defendants in a variety of disputes including eviction and landlord/tenant actions.

UNRAVELING THE MYSTERY OF 1031 EXCHANGES

William Exeter | Exeter Group, LLC

2:30 pm

Learn what really matters for a successful 1031 exchange. This educational seminar will include a discussion of 1031 exchange issues such as qualified use and like-kind property requirements (what really qualifies), reinvestment requirements (how much do you really need to reinvest), qualified trust accounts or qualified escrow accounts, 45 and 180 calendar day deadlines, identification rules and requirements, forward, reverse, improvement and foreign property 1031 exchanges, selecting a qualified intermediary and more.

GUEST APPEARANCES & EXPERT ADVICE (CON’T)

LEGAL Q&A WITH NIV DAVIDOVICH, ESQ.,

Attorney Niv Davidovich joins us in the AAGLA booth to address your legal questions, offering many practical solutions and legal strategies, and to share important updates on your rights to evict and many other recent regulations impacting rental housing providers. (Guest Appearance will be made in the AAGLA Booth at Noon)

MAKING MONEY WITH ACCESSORY DWELLING UNITS (ADUS)

Discover How You Can Improve Your Cash Flow with California law, Assembly Bill 1033! Join our ADU expert, Seth Phillips, a.k.a. “Mr. ADU,” as he discusses the benefits of Senate Bills 9 and 10 and new ADU laws, and how you can easily, substantially improve your revenue outlook by taking advantage of these new laws. (Join the discussions in the ADU Feature area -- Booth 424 -- times TBA)

PREFERREDPARTNERS

TheSouthernCaliforniaRentalHousingAssociationpartnerswith industryleaderstoprovidevalue-addedproductsandservices. Thesebusinessesofferspecialdiscounts,rates,andservicesto membersoftheSouthernCaliforniaRentalHousingAssociation.

UNLOCKING EFFICIENCY:

THE ROLE OF RATIO BILLING FOR ACCESSORY DWELLING UNITS

Contributed by the Livable Content Team

As the demand for housing intensifies and urban spaces become more constrained, innovative housing solutions are gaining traction . Accessory Dwelling Units (ADUs) have emerged as a practical and sustainable approach to address housing challenges while making the most of available space to create small, affordable housing opportunities But with the inclusion of ADUs on a property comes the challenge of fairly recovering utility costs. Ratio Utility Billing is the answer! Read on to learn more about how you can make the most of this revenue-generating opportunity.

WHAT ARE ACCESSORY DWELLING UNITS (ADUS)?

First things first – let’s talk about ADUs. You might be more familiar with them under other names like “granny flats,” “in-law suites,” or “backyard cottages ” Essentially, ADUs are secondary living spaces attached to or located on the same property as a primary residence. They can take various forms, including basement apartments, garage conversions, or detached cottages.

ADUs have been gaining popularity for several reasons. They provide a practical solution for families seeking additional space for elderly parents, adult children, or guests . Furthermore, they open up opportunities for homeowners to earn extra income on their property.

THE INCREASING NEED FOR ADUS

In recent years, housing affordability has become a pressing issue in many cities and neighborhoods. The high demand for housing, coupled with limited space and rising property prices, has made it challenging for people to find suitable homes within their budgets ADUs make use of available space on a property, homeowners can expand their living options or provide affordable rental housing to others.

THE UTILITY COST CONUNDRUM

Now, let’s talk about utility costs It’s no secret that utility bills can take a significant chunk out of a homeowner’s budget. When an ADU is added to a property, the utility consumption naturally increases This brings up a vital question: Who should be responsible for paying those additional utility costs?

In some cases, homeowners might choose to include the utility costs for the ADU in the rental price However, there’s a more equitable and efficient way to handle this: Ratio Utility Billing.

UNDERSTANDING RATIO UTILITY BILLING (RUBS)

Ratio Utility Billing fairly distributes utility costs among multiple units on a property based on their usage. Instead of just passing on the entire utility bill to the ADU’s Resident or incorporating the costs into the rent, RUBS takes into account the proportionate use of utilities by each unit, without the expense of submetering equipment and installation

Here’s how it works: The utility bill is divided between the primary residence and the ADU based on an algorithm. Typically, this is done by calculating the square footage and number of occupants in each unit. Each household pays only for the utilities they consume Utility recovery platforms like Livable do the heavy lifting on the calculations - all you need to do is provide basic information and let the system do the rest Livable also provides full transparency into utility use, giving Residents the opportunity to lower their bills through reducing consumption

Important note: Check your local laws . You may need to use submeters for some utilities depending on where you live. Even if you do need or choose to use submeters, a professional payment platform like Livable can help you manage payments and stay in compliance

BENEFITS OF RATIO UTILITY BILLING FOR ADUS

1. Fair, Transparent Allocation of Costs: Ratio billing ensures that the utility costs are distributed fairly based on consumption.

2 Encouragement of Conservation: When Residents are responsible for their utility

bills, they are more mindful of their consumption What’s good for the planet is good for your wallet!

3 Financial Sustainability: For homeowners, ADUs can provide an additional source of income But you can’t raise the rent every time the city raises water prices . Implementing RUBS lets you maintain a healthy bottom line as utility costs, especially water, continue to rise.

4. Ease of Implementation: Ratio billing can be easily implemented by property owners and property managers No separate meters or submeters are needed, making it a costeffective solution

ADU’s can address housing challenges, provide additional income, and promote multi-generational living . Ensuring a fair and efficient utility cost recovery mechanism is essential to their success

As the popularity of ADUs continues to rise, integrating ratio billing into these housing setups can unlock their full potential and contribute positively to housing diversity and affordability “Livable is here to help,” says Livable CEO Dan Sharabi. “We want to help Housing Providers get the most from their investments and help encourage the conservation of valuable natural resources at the same time.”

So, if you’re a homeowner contemplating an ADU addition, keep the magic of Ratio Utility Billing in mind. It’s not just about fair billing – it’s about building a better, more inclusive future for everyone! Sign up with Livable Pro today to easily manage rising utility costs for your ADU without breaking your bottom line

Composting at Multifamily Properties

By Kari Negri, Chief Executive Officer, SKY Property Management

Dear Kari, what does composting look like for multifamily properties?

California’s fight against the climate crisis takes a step up with the passage of Senate Bill 1383, aimed at reducing greenhouse gas emissions by requiring all multifamily properties to begin providing composting. This year, trash collection companies are rolling out a new system for apartment buildings throughout the City of Los Angeles and County of Los Angeles. Most of us who own apartment buildings know this is another item for the owner to add to their never-ending list of obligations, and on top of the problems this could cause (we will mention a few at the end of this article) we are also expected to educate employees and residents too.

All this being said, at SKY Properties, we have long been a “green” management company, championing advancements and seizing opportunities to create more environmentally sustainable housing, implementing green alternatives, ranging from appliances and fixtures to design inside and outside of our managed buildings. Environmental sustainability has been a core principle since the inception of the company, both as a value that benefits our community and our clients, but also the world at large . SKY Properties uses this as a strategy to benefit our clients as most of these environmentally friendly installments save money for building owners It’s a “win-win” situation or as some say: “Saving GREEN to make GREEN $’s.”

The benefits of composting, in and of itself, are myriad . Composting decreases greenhouse gas emissions, it creates the opposite effect of trash

by enriching the soil, which in turn creates a more nutrient-rich source for our food (soil lacking in nutrients creates produce that is lacking in nutrients), and thus begins an incredible cycle that benefits everyone. It’s the gift that keeps giving, and although we like the idea of contributing, having tenants compost has led to some difficulties thus far, including incidents in San Francisco where it caused rodent problems and offensive smells.

This leads us to the question of what this means for building owners and management companies. What are the actual logistics of implementing composting into multifamily housing?

We spoke to a trash-collection company in Los Angeles, Waste Management, about what this change will be like, and what actions will need to be taken by the landlords. Waste Management answered our questions with the disclaimer that these details may vary with different waste-collection companies Nonetheless, the insight provided gives us an idea of what to expect as this rolls out.

• Where Does the Composting Go? Green composting bins are being provided by Waste Management to each building, and the composting goes straight into that bin It can be emptied as loose food scraps, though containing them in a paper bag will help with cleanliness.

• How Big Will it Be? The size of the bin will be determined by the company based on the size of the building’s other bins

• When Will it Be Collected? Composting will be collected with your trash according to the current schedule Once SKY Properties

receives the green bins, the schedule will be verified with the specific waste-collection company.

• Will Tenants Be Set-up to Compost Correctly? Yes. Either the collection service or the city will provide free pails for tenants to store their food scraps in before composting Management will provide the resources for obtaining their pails. When composting comes to your property, a leaflet will be provided with instructions for the tenants There are also educational materials on the LA Sanitation website that SKY Properties will provide.

• Won’t Compost Get Smelly and Make the Property Less Appealing? The tip that Waste Management shared is to have tenants keep their pail in the freezer, preventing their food scraps from becoming soggy and smelly; they advised that tenants take the frozen contents out to the green bin the night before or day of collection This will prevent the bin (and the tenants’ units) from smelling They are also permitted to dispose of it in a paper bag which will prevent the food from touching the bin.

• Does This Impact the Monthly Fee for Waste Hauling? With Waste Management there will not be a separate fee for composting

• What if Tenants Compost Incorrectly? The policy at Waste Management is to start by leaving a note for management to address incorrect composting, and after several notices a penalty may be given The representative added that they hardly ever need to leave notes and that tenants are adapting well to composting.

One of the bigger questions that we at SKY Properties have investigated for our clients is what type of situation will qualify a property to be exempt from composting Regarding multifamily properties, there is one option—a physical space waiver. Buildings that fit the criteria of this waiver and do not have enough space to safely store a green composting bin will have

ABOUT KARI NEGRI --

an application for exemption sent in on their behalf.

Property managers who neglect to adhere to these regulations may find themselves subject to fines or penalties imposed by the state or local jurisdiction. This is why it is imperative to stay informed to ensure a seamless adherence to Senate Bill 1383 Aside from ensuring that you’re adhering to the regulations, you should also keep in mind that composting has some risks and challenges to consider and avoid. First of which is contamination, as compost may contain pesticides, heavy metals, or other harmful substances that may originate from its source materials.

Another concern associated with composting involves the transmission of diseases. Compost can serve as a medium for microorganisms capable of inducing infections or allergic reactions in both humans and animals In 2017, a woman in San Francisco sued her landlord, accusing him of negligence and breaching the contract. The woman contended that she experienced mold exposure and respiratory issues due to the insufficient maintenance of the composting system in her apartment building She alleged that the landlord neglected to ensure proper ventilation, drainage, and cleaning of the compost bins, leading to the growth of mold and the emission of unpleasant odors Furthermore, the woman asserted that the landlord failed to apprise her of the potential health hazards associated with composting.

Lastly, composting presents a fire hazard, either through spontaneous combustion or exposure to flammable materials An incident in 2019 exemplifies this risk, as a fire erupted at a composting facility in San Jose during the processing of organic waste from various sources, including apartments. The fire persisted for several hours, emitting dense smoke that compromised air quality and visibility in the vicinity

To mitigate these risks, it is essential to follow best practices, including using uncontaminated materials, maintaining proper compost conditions, and taking safety precautions such as wearing protective gear if necessary and keeping compost away from fire hazards Remember, by sticking to these regulations and making sure that you are composting safely and properly, you’re not just ticking legal boxes — you’re unleashing the power of positive change on our planet.

Name any aspect of the complex world of property management and Kari Negri has been at the forefront, forging new ground, fighting for the rights of property owners and tenants alike, adding value, and making a significant difference. With a strong background in management, Kari founded SKY Properties, Inc. in 1997 to offer hands-on, boutique-level property management at a competitive price for multitenant property owners. Do you have a question for me? Please send your questions and comments to me at Kari@SKYprop.LA.

CALENDAR Register at socalrha.org

Register for events and classes online at socalrha.org. Please note, all classes require pre-registration. Walk-ins are not accepted. See confirmation email for details. Questions? Contact us at events@socalrha.org or 858.278.8070

April 9

Fair Housing Part I & II

9:00A - 4:00P

A staple in the property management industry, this two-part series provides an in-depth look at Fair Housing. Register today and understand how you can learn valuable tips from a risk management perspective.

ICON KEY

April 10

What You Should Know! SB 267: Section 8 and Credit History

SB 267 allows applicants receiving rental subsidies, such as Section 8, to elect to provide alternative evidence of financial responsibility and ability to pay in lieu of credit history. Learn how this change impacts you from the experts at SCRHA and Kimball, Tirey, and St. John LLP.

10:00A - 11:30A

April 11

SoCalRHA Forms

10:00A - 11:00A

Are you new to the rental housing industry? Have you been doing this for years but still have questions? If so, this is the perfect workshop for you! This webinar will take you through the entire leasing process, using our suite of forms as a reference. Let us help you take the guess work out of property management.

ICON KEY

April

25

2024 Rental Housing Education Conference & EXPO

Join us for a day of education and fun at the 2024 Rental Housing Conference & EXPO. Sign up today to enjoy a day with five seminars, a full tradeshow, and prize giveaways

May 13

May 1

Supplier Council

2:30P - 3:30P

Join your Supplier Colleagues for on-trend roundtable discussions and guest speakers who will share best practices to thrive in a dynamic industry

8:30A - 3:00P 8:30A -

May 16

CAMT: Certificate for Apartment Maintenance Technician

Maintenance technicians are critical for an apartment community’s operations. The CAMT Credential will ensure that you have all the necessary skills & knowledge expected of today’s maintenance technicians.

ICON KEY

Marketing Your Rental

Join Marketing maven, Kitty Callaghan, VP of Marketing at Wasatch for this session about building the best marketing plan for your rentals! Learn from an expert in the field to gain practical and applicable knowledge on marketing skills and tactics

ICON KEY

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.

They Want to See Diversity and Inclusion

This highly educated, highly diverse generation is craving a passion and dedication to diversity and inclusion from their employers. As a result, “86% of

Gen Z job seekers cite a company’s feel if it’s a right fit, the offer

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ENSURING YOUR BUILDING’S RESILIENCE TO EARTHQUAKES: IS IT BUILT ON SOLID GROUND?

by Ali Sahabi, Optimum Seismic

Apartment buildings in the Greater San Diego Area may sit on soil that is prone to liquefaction, landslides or other instability when shaken by an earthquake.

If your apartment building is located in Mission Bay, Mission Valley, Tierra Santa, Linda Vista, and many other San Diego communities, it’s best to have your building checked by professional structural engineer.

These destructive reactions to earthquake shaking can happen when ground vibrations cause soil particles to lose contact with each other In the case of liquefaction, the ground vibrates like Jell-O – significantly increasing the potential for damage to buildings.

You can check the City of San Diego website for an interactive map showing local liquefaction zones, landslide areas and earthquake faults – and zoom in to see if your building falls within those areas. Visit https://www. sandiego . gov/development-services/ zoning-maps/seismic-safety-study to access the map

WHEN SOIL TURNS TO SOUP

Liquefaction. It’s a little like quicksand, but many times more deadly.

The United States Geological Survey defines it as the phenomenon that takes place when loosely packed, water-logged sediments at or near the ground surface lose their strength in response to strong ground shaking.

When it occurs beneath buildings and other structures, the results can be catastrophic.

It’s what contributed to the devastation of the 1989 Loma Prieta earthquake – when soil and debris used to fill in a lagoon to build the Marina District subsided, fractured and caused horizontal sliding of the ground surface.

The Atlantic magazine describes it as “horrifying.”

“Videos of its occurrence look like found-footage documentaries of the Second Coming,” the magazine wrote. “Buildings seem to simply slip away, the earth

gives out, and the once-steady structures slide into the morass.”

But the science behind the phenomenon is straightforward. Liquefaction tends to occur where water has been – near rivers, harbors, reclaimed land, marshes – or in the case of Mexico City – on a lake that was filled in to build a community.

SLIPS AND SLIDES

Landslides are another concern for earthquake-prone communities.

Earthquakes are a major cause of landslides, according to the USGS, which classifies landslides into five types: falls, topples, slides, spreads, and flows.

Falls are abrupt movements of rocks or boulders that become detached from steep slopes of cliffs, but they can also be represented by falls in the earth itself.

Topples describe instances when a section of land, such as a cliff, will fall onto lower elevations beneath it.

Slides describe a downward movement of a mass of land, like large quantities of sand moving down a playground slide.

Spreads refers to a fracturing of the earth, followed by slippage, like a custard dessert that has not set.

Flows are the most destructive type of landslide to structures, as they often occur without warning, move too quickly to escape, and due to velocity and material

are often very powerful and destructive, the USGS explains.

Guarding Against Risk

The more scientists and engineers learn about ground movement responses to earthquakes, the better we can guard against damage.

Stanford University launched an unprecedented study to repurpose underground fiber-optic cables to measure soil properties in urban areas. In telecommunications, data are transmitted in the form of light traveling through fiber-optic cables, which are bundles of thin, glass rods. To measure soil properties, these Stanford researchers are looking at the tiny defects in those cables.

These cables – while underground – are constantly twitching under the vibrations of ocean waves, trains, even traffic. Researchers shoot a series of light pulses into a fiber-optic cable and track how the reflected light wobbles – helping them to quickly determine how much the ground shakes. These measurements reveal a lot about the properties of the soil where the cable is buried.

We are bound to learn much more in the future about the way soils behave under seismic shaking.

Until then, it is wise to learn the type of soil your building was constructed on in the San Diego area know and the risks that soil may pose to your tenants and your rental income.

The Optimum Seismic team has been making California cities safer since 1984 by providing full-service earthquake engineering, steel fabrication and construction services for multifamily residential, commercial and industrial buildings With more than 4,000 earthquake retrofit and renovation projects completed, Optimum Seismic’s work includes softstory multifamily apartments, tilt-up, non-ductile concrete, steel moment frame and unreinforced masonry (URM) buildings To arrange a complimentary assessment of your building’s earthquake resilience, contact Optimum Seismic at (833) 978-7664 or visit optimumseismic com

STOP PAYING FOR TENANT SCREENING

• Potential for monthly cash flow and capital appreciation

• Potential to defer capital gains taxes

• Potential close in as little as 3-4 days

• Help build a diversified portfolio

• Invest in “out-of-state” properties

• No need to obtain a loan

• Low minimum investment amounts

• Institutional asset and property management

• Pass through tax benefits

• No escrow

My mission is to provide expert advice that helps investors escape the burdens of traditional rental property ownership, and 1031 exchange into potentially 100% passive income DST properties.”

Partner

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.

Jason McMurtry, MBA Managing

By Pat Moran, Aaron Reed & Associates

AC APIT OLNEWS O L N E W S California

s you know by now, the California Legislature is back in session for the second year of the 2023-2024 session. As we begin the new legislative year, both the Assembly and the Senate have new leaders Leading the Assembly is Assembly Member Robert Rivas, a Democrat from Salinas. With new leadership comes committee changes Assemblyman Ash Kalra will be chairing the Assembly Judiciary Committee replacing Brian Maienschein and Assembly Member Christopher Ward chairs the Housing Committee replacing Assembly Member Buffy Wicks, who is now chair of the Appropriations Committee

In the Senate, Senator Mike McGuire took over Pro Tem duties from termed-out Senator Toni Atkins. He has appointed Senator Nancy Skinner as chair of

Senate Housing replacing Scott Weiner and has made no changes to Senate Judiciary.

The Bill introduction deadline was February 16, 2024, and your State Government Affairs Committee will be reviewing relevant bills impacting rental housing in California. From the looks of what has been introduced, it will be a busy year. Bills related to requiring owners to allow pets, disallowing the use of AI programs to set rental rates, screening fee waivers, and creating an Office of Tenants’ Rights and Protections to name just a few. This, of course, is in addition to a $73 billion budget deficit the Legislature will need to address before the end of session August 31, 2024

We will keep you posted on the progress of these bills, and others, and asking you to weigh-in on several of them as the legislative year progresses

CalRHA Policy Update

The Governor’s Legislative Secretary, Christy Buoma, is leaving and has been replaced by Christine Aurre, who has served as Newsom’s Deputy Legislative Affairs Secretary since 2022. Prior to that, she was Legislative Director in the Office of State Senate Majority Leader Robert Hertzberg from 2019 to 2022. Aurre was Legislative Assistant in the Office of State Assemblymember Patrick O’Donnell from 2015 to 2019

Leaders from CalRHA met with Governor Newsom’s Legislative Deputy for housing/rental housing issues, Myles White, in March where we discussed key legislation that has been introduced so far, as well as creative ways to help fund rent assistance in the state.

Finally, the Governor will be giving his State of the State on March 18th

LEGISLATIVE UPDATE

Policy Committees have begun hearing legislation and several bills of interest are highlighted below

AB 2059 (Flora, R-Ripon) - Tenancy: Obligations of Landlords: Repairs - This bill would prohibit a landlord from being liable for dilapidations rendering the premises untenantable, unless the landlord receives written or oral notice of the dilapidations and the landlord is given a reasonable time to repair the dilapidations. - SUPPORT

AB 2114 (Irwin, D-Thousand Oaks) - Exterior Elevated Elements: Inspection - This bill would also allow licensed civil engineers to perform balcony inspections Set for a hearing on March 20th in Assembly Housing and Community Development - SUPPORT

AB 2187 (Bryan, D-Culver City) - Office of Tenants’ Rights and Protections - Placeholder bill stating the intent of the Legislature to enact subsequent legislation to establish the Office of Tenants’ Rights and Protections.

- OPPOSE

AB 2216 (Haney, D-San Francisco) - Household Pets - Would state the intent of the Legislature to enact legislation related to a landlord’s ability to prohibit common household pets in residential tenanciesOPPOSE

AB 2230 (Bennett, D-Oxnard) - Would state that California’s anti-trust laws can be applied to anticompetitive practices occurring in residential housing, and would clarify that City Attorneys may investigate and prosecute anticompetitive behavior - OPPOSE

AB 2278 (Carillo, D-LA) - CalRHA Sponsored bill which would have the Housing and Community Development Department post the correct allowable yearly rent increase Set for a hearing on March 20th in Assembly Housing and Community Development. - SUPPORT

AB 2498 (Zbur, D-Santa Monica) - Housing: the California Housing Security Act - Would, upon appropriation of the Legislature, establish the California Housing Security Program to provide a housing subsidy to eligible persons, as specified, to reduce housing insecurity and help Californians meet their basic housing needs. To create the program, the bill would require the Department of Housing and Community Development to establish a 2-year pilot program in up to 4 counties, as specified. The bill would require the department to issue guidelines to establish the program that includes, among other things, the amount of the subsidy that shall be the amount necessary to cover the portion of a person’s rent to prevent homelessness, but shall not exceed $2,000 per month - SUPPORT

AB 2584 (Lee, D-Milpitas) - Corporate Owned SingleFamily Homes - Would prohibit owners of more than 1,000 homes from buying more single-family properties. OPPOSE

AB 2785 (Wilson, D-Suisun City) - Would require a landlord to, within 30 days of receiving a tenant’s security, deposit the sum into an account of a bank or other financial institution regulated by the state or federal

government. Any balance originating from the security that remains in the account after reimbursement to the landlord, including interest accrued on that balance, would be payable to the tenant OPPOSE

AB 2801 (Friedman, D-Burbank) - Prohibits a landlord from requiring a tenant to pay for, or asserting a claim against the tenant or their security deposit for, professional carpet cleaning or other professional cleaning services

OPPOSE

AB 3057 (Wilson, D-Suisun City) - CEQA ExemptionExpands the CEQA exemption to junior ADUs. SUPPORT

SB 1201 (Durazo, D-LA) - LLC Owner TransparencyWould require each entity to disclose the name of each person with substantial control over the entity both upon creation and upon submitting their required biennial business filings. OPPOSE

The legislative calendar for 2024 is as follows:

March 21-29 - Spring Recess

April 26 - Last day for policy committees to hear fiscal bills

May 3 - Last day for policy committees to hear non fiscal bills

May 17 - Last day for fiscal committees to pass bills to Floor

May 24 - Last day for bills to pass their house of origin

June 15 - Budget bill must be passed by midnight

June 27 - Last day for legislative measure to qualify for the November 5th General Election ballot

July 3 - Last day for policy committees to meet and pass bills

July 4 - August 4 - Summer Recess

August 16 - Last day for fiscal committees to meet and pass bills

August 23 - Last day to amend bills on the Floor

August 31 - Last day for each house to pass bills

September 30 - Last day for the Governor to sign or veto bills

ABOUT CALRHA

The California Rental Housing Association represents 25,000 members totaling more than 676,000 units, made up of small, medium and large rental housing owners throughout the State of California.

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FINANCIAL ADVISORY

Ease Big Tax Bills from Real Estate Sales or Income Using Bonus Depreciation

BY CHRISTOPHER MILLER, MBA SPECIALIZED WEALTH MANAGEMENT

Last month, we explored Accelerated Depreciation as a tool to defer (potentially forever) taxes on our real estate income Toward the end of that article, I mentioned the exceptionally valuable deductions that owning service stations can offer. That article attracted the attention of several colleagues who were well-versed in and very experienced with using service stations to lessen annual taxes from real estate (passive) income. This month, we will look at how this unique benefit can help us.

SERVICE STATIONS FOR TAX DEFERRAL OF INCOME – UPFRONT TAX DEDUCTIONS

Section 128(k) from the IRS tax code calls for “bonus depreciation” for certain assets . Service stations and convenience stores, provided that 50% of the property’s revenue comes from the sale of motor fuels, will qualify for this incentive This section, a permanent feature of the tax code, allows a service station purchaser to depreciate a large part of the property’s improvements value in year 1. The portion of the improvements that can be deducted in year 1 has varied over the years – 100% could be taken

between late 2010 and the end of 2011, and the 2017 Tax Cuts and Jobs Act allowed 100% to be taken again between 2017 and 2022. The rate decreased to 80% and to 60% in 2024.

A bipartisan effort in Congress, backed by government data on the economic benefits of these incentives, is currently underway to raise this 100% deduction for years 2024, 2025, and retroactively to 2023. Some Congressional research is suggesting that a permanent 100% rate is possible Since Congress restoring the 100% rate seems likely, I will use that percentage for all examples in this article To adjust for current rates, just multiply the benefits mentioned by 60%.

WHAT DOES THAT MEAN?

This means that investors with high real estate (passive) annual income can lower their tax bills by purchasing gas stations This doesn’t mean that you need to operate the gas stations – just like fast food restaurants, most stations have landlords who own the real estate and lessees (tenants) who operate the business.

Please turn to page38

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 five hundred twenty five 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

Continued from page37

Let’s use as an example a client who earns $500,000 of annual taxable passive real estate income after all expenses and existing depreciation is deducted. A $200,000 equity investment in a service station with a 50% loan, (so our investor buys $400,000 of real estate) could therefore generate a $320,000 deduction for our client. This would bring his taxable income for 2024 down from $500,000 to $180,000 – resulting in a potentially much lower tax bill, and a very happy client. Since his investment is partially “refunded” by a tax benefit, he can see this as buying an investment property at a steep discount while enjoying income and growth potential on the “full value.”

HOW DO THOSE NUMBERS WORK?

A $200,000 down payment on a service station (or a partial interest in one) plus a 50%, $200,000, loan equals $400,000 of real estate purchased. Since land can’t be depreciated, you and your CPA will need to estimate what the value of your improvements are on your property For this article, I’ll estimate 80% A cash (non 1031) investor’s depreciable basis will be $400,000 X 80% = $320,000), so his $200,000 investment bought $320,000 of deductions.

USING THE SERVICE STATION DEDUCTION TO SHELTER CAPITAL GAINS AND ACCUMULATED DEPRECIATION TAXES FROM INVESTMENT REAL ESTATE SOLD WITHOUT A 1031 EXCHANGE

Since I have been advising clients on tax-advantaged investments since 2003, I often get phone calls from investors saying “I sold a property and didn’t complete my 1031 Exchange . I don’t want to spend any more than my sales proceeds: what can I do to avoid taxes? The top option for the past several years has been “Buy an Opportunity Zone.” Opportunity Zones, however, are expected to sunset in early 2024, wouldn’t shelter accumulated depreciation taxes, and only delayed rather than deferred taxes Now “buy a gas station!” could be an even more attractive option.

Our sample client in this case bought an apartment building back in 1985 for $200,000 and sold it in January of 2024 for $1,800,000 . He hadn’t met me yet, and didn’t know the benefits that a 1031 Exchange could offer, so escrow sent the sales proceeds to his checking account and created a big taxable event. The way the IRS and California see it, he owes tax on the $160,000 of depreciation he took over his ownership period (25% IRS + 9 .3%

CA) and on his $1,600,000 Capital Gain (20% IRS – for big Capital Gains you’ll end up in the higher bracket - and another 9.3% for CA.) This will yield an approximate tax bill of $523,680 on his $1,600,000 gain – or a nearly 33% rate. Ouch!

Fortunately, this client met me before 2024 ended I showed him how he could, with $1 1 million of his $1.8 million sales proceeds, invest in a service station leveraged at 50% for a $2.2 million total purchase. At an 80%/20% improvements to land ratio, his upfront tax deduction for this year is worth $1,760,000 – the exact total of his taxable accumulated depreciation and his capital gain . This will have the effect of “zero-ing out” his taxes on the sale – and he still has $700,000 of sales proceeds in his checking account that will not be subject to tax this year – and potentially never!

DEPRECIATION TAKEN IS A TAX DEFERRED –POTENTIALLY FOREVER

As our investor saw in his property above, depreciation that is used to defer income taxes today will add up over the years as “accumulated depreciation ” If we sell our property in the future, and do not do a 1031 Exchange¸we will pay the tax on it then. It is possible, however, to defer this tax forever and never pay it – by continuing to do 1031

Exchanges throughout our lifetimes I, and most of my clients, plan to complete 1031 Exchanges every time we sell a property This will defer our taxes in perpetuity and allow us to enjoy income and growth potential generated from the full amount of our accumulated real estate principal: not just “what is left after taxes.” When we die, those taxes will disappear and our heirs will receive the full value of our real estate life’s work This is why I always add “potentially forever” when I mention taxes deferred by 1031 Exchanges.

I spoke with a colleague recently who, as a professional real estate investor and manager, generates most of his earnings as passive income He buys gas stations as part of his annual tax planning to minimize his tax bill and maximize the income and growth potential of his investments – he can use tax savings to create more income for the future I was intrigued by this idea, and am now speaking with my clients about how it can benefit them as well.

If you would like to discuss how this bonus depreciation could potentially help you, my office number is (877) 313-1868.

San Diego (38428)

QuestionsAnswers

by Kimball, Tirey & St. John LLP

uestion:: I have a maintenance worker who was terminated and was given seven days to vacate his apartment He has not left, and I would like to know if I need to send him through the eviction process or if there is anything else I can do to get him out.

Answer: You need to send him through the eviction process. The type of eviction notice may depend on if they were a resident prior to being a maintenance worker or if they were assigned the unit because of their employment

uestion:: Is it illegal for an owner to charge for his own labor (if it is the going rate for that type of work) and deduct that amount from the tenant’s security deposit?

Answer: It is not illegal to deduct for your own labor from the tenant’s security deposit You can charge a reasonable hourly rate and must state

the time and rate in your security deposit disposition statement

uestion:: Do I have to pay a tenant interest on his security deposit?

Answer: This is a current issue that is discussed on the state level however there are currently no state laws requiring that interest be paid on the tenant’s security deposit. Some rent control ordinances and/or other local ordinances do require interest to be paid so it is important to review your local laws.

uestion:: There is a very loud tenant in the apartment building across the alley from our rental I have asked them to quiet down on numerous occasions and have even called the police. They keep playing their music late at night and into the wee hours of the morning What else can we do?

Answer: You should continue to contact the police when unreasonable disturbances occur and consider contacting the owner of the property to inform him or her of the situation The owner may not be aware of the problem.

uestion:: After a lease expires and it is monthto-month, how much notice must a tenant give me to legally terminate the lease? He says one week. Is this true?

Answer: In California, the tenant or the landlord (provided tenant in possession for less than a year) may terminate with 30-days written notice in a month-to-month tenancy. A tenant can terminate the tenancy in response to a domestic violence issue and would only be responsible for 14 days of rent. However, if the occupants have been in possession for one year or longer, the landlord must serve a 60-day notice to terminate for any property not subject to just cause.

uestion:: Someone told me that if a resident is committing a crime on the premises, they can be evicted in 3 days. I have never heard of this law and I rent to someone I suspect is dealing in drugs. Can you tell me more about it?

Answer: California law does allow an owner or manager of rental property to serve a 3-day notice to quit the premises based upon the commission of an illegal act on the property The illegal conduct must, however, relate to the rented property. For instance, if you can prove your tenant was dealing with or possessed illegal drugs on the premises, you could serve the 3-day notice If the tenant failed to quit, an unlawful detainer action could be filed in court to recover possession.

uestion:: One of our tenant’s guests broke a window of the recreation room by throwing a ball through it The host tenant claims he should not be responsible because the damage occurred

outside the apartment and while they were playing catch in the common area. My tenant also refuses to give me the name or any information about his guest who caused the damage What can I do?

Answer: In California, tenants are liable for the negligence of their guests while on the premises. The premise not only includes the actual rented unit, but the common area as well Therefore, the tenant and the tenant’s guest are jointly liable for the damage to the window

uestion:: I have a tenant who is on a long-term lease Recently, however, the tenant brought in a roommate and has been out of town for over 30 days I am concerned that the roommate intends on staying and that my original tenant may have moved out for good What are my legal options?

Answer: If you have a clause in your lease which prohibits the assignment or sublet of your lease agreement, you do not have to consent to the roommate You could ask the roommate to fill out an application to rent and thereby identify who the roommate is. Once identified, you could choose to either (a) allow the roommate to live there if he meets your qualifications and signs the lease or (b) start eviction procedures based upon the breach of the assignment and sublet clause of your lease.

uestion:: My great grandfather died last year and left me his home. I am trying to rent the house and my realtor told me that I am required to inform prospective tenants of the death of my great grandfather because he died in the home Is this really true?

Answer: In California, to avoid potential claims, residential landlords should disclose in writing all deaths occurring on the property in the previous 3 years

STOP PAYING FOR TENANT SCREENING

The Case for a Free-Market Approach to Security Deposits

By Mercedes Shaffer, Realtor

In the dynamic world of real estate, residential rental properties stand as a crucial investment avenue for many individuals . As housing providers, the welfare of our investments is paramount . The recent signing of AB 12 by Governor Newsome, which imposes a onemonth maximum rent deposit, has sparked a debate within the industry Advocates of such regulations argue for further government intervention through the imposition of tenant-biased measures, without considering the perspective of property owners and the implications these reforms could have on our investments

In the financial realm, prudence is key, and it’s no different in real estate Just as home buyers are required to make substantial down payments to secure their property purchase, expose their financial records in detail to demonstrate the ability and likelihood of fulfilling their obligations, and the bank holds title as a form of collateral, providing a safety net for their investment. Likewise, a rental deposit serves as a form of collateral for housing providers, offering some reassurance and compensation in case of damages or a breach of the lease agreement Given the significant asset risk providers are taking, they should be free to determine a deposit that is adequate and that the market will bare Limiting this deposit will jeopardize the housing provider’s ability to recover potential

losses, placing their investment at risk

This is another example of lawmakers forcing constraints without taking any of the risks I have yet to see a bill protecting housing providers by offering immediate compensation and free legal representation if a tenant damages a property beyond what can be covered by a deposit or a renter who unlawfully withholds rent but continues to use the owner’s asset.

Just as banks safeguard their loans, property owners should also have the ability to safeguard their investment The traditional practice of requiring a sizeable deposit from tenants is a logical and necessary step in mitigating risks associated with renting out property

When you consider that an aspiring homeowner who has good credit and wishes to purchase a $500,000 home is typically required to put down a minimum 10% down payment, equating to $50,000 This initial financial commitment is seen as a demonstration of financial capability and commitment to the purchase

In the same vein, housing providers who invest in rental properties should also have the right to set deposit amounts commensurate with the value of their investment and the risk involved.

AB 12, which goes into effect on July 1, 2024 - seeks

Continued from page46

to protect tenants and enhance affordability, but this undermines the level of security housing providers need to protect their investments On the other hand, a free-market approach would allow for negotiation between housing providers and residents, enabling both parties to agree on a deposit amount that is fair and reflective of the property’s value, credit worthiness of the prospective tenant, and rental market dynamics

By forcing housing providers to charge a security deposit that is not commensurate with the risk, it hurts tenants and society as a whole. We live in a nation often characterized by consumerism, where purchasing power is a cornerstone of modern living, and financial responsibility and savings often takes a back seat Advocating for a culture of savings is an essential stride towards ensuring a stable and prosperous society This is one of the intended benefits of Social Security – forced savings. One critical aspect of this financial prudence lies in encouraging individuals, regardless of their socioeconomic status, to save for security deposits when seeking rental housing This fundamental shift not only cultivates better lifestyle habits but also aligns with the principles of responsible financial management

When prospective renters are required to save for a reasonable security deposit, it instills a crucial financial habit early on. Much like the process of saving for a down payment when purchasing a property, saving for a security deposit reinforces the value of disciplined financial planning It encourages individuals to budget, cut unnecessary expenses, and prioritize their spending This practice teaches invaluable skills that extend beyond housing arrangements and positively impact various aspects of life.

Moreover, incorporating this savings culture can have a ripple effect on the larger economic landscape As individuals cultivate more fiscal responsibility, the overall demand for rental properties may stabilize. Prices and incomes can adjust accordingly, fostering a more balanced market . In turn, this is likely to contribute to a reduction in financial stress for both housing providers and tenants, leading to a healthier housing sector

Requiring a rental deposit commensurate with the value of the property and risk serves as a catalyst for fostering a heightened sense of pride, and appreciation and respect among tenants towards the property owner’s assets This is a shared financial commitment between provider and tenant . This financial stake instills a sense of responsibility, encouraging tenants to care for and maintain the property as if it were

their own, ultimately establishing a mutually beneficial relationship between the tenant and the property owner, and even the community at large

Humans possess an inherent gift for creativity and adaptability, qualities that have driven our civilization’s progress throughout history. However, when government intervenes excessively and enacts laws that deviate from natural economic principles, it can stifle these innate abilities making people weak and dependent on government. Excessive and often shortsighted interventions diminish resilience, personal accountability and create an environment where people are less capable of responding effectively to challenges and changes

Disallowing tenants from making their own fundamental financial decisions harms them and housing providers. De-adulting tenants and making them reliant on government intervention to make decisions for them, is making things worse and not better. Helicopter parents that do too much for their kids spoil them so that they don’t become self-reliant, and this is what government is doing by not allowing housing providers to run their own businesses

Life rewards those who have learned to save and manage money wisely. Encouraging a culture of saving for security deposits not only benefits individuals but also contributes to a more financially conscious society. By instilling this habit early on, we pave the way for a future where responsible financial decisions are the norm, enhancing the well-being and stability of all members of our community

In conclusion, it’s vital that rent and deposits are determined by the free-market This enables housing providers to secure their investments adequately, encouraging further investment in housing Responsible property ownership, coupled with open communication and fair business practices, ensures a thriving rental market that benefits both housing providers and tenants alike. Balancing the interests of all stakeholders is essential for a sustainable and prosperous real estate landscape. I would love to hear what you think Where do you think government intervention helps the market, and where does it hurt it?

If you’re considering buying, selling, doing a 1031 exchange or if you would like a free property valuation, call (714) 330-9999 or email InvestingInTheOC@ gmail com I’m Mercedes Shaffer, a multifamily and commercial real estate agent with Coldwell Banker Realty, helping you build wealth one door at a time. DRE 02114448

GINA KOENEN

NMLS #613320

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.

Vice President, Commercial Loan Officer (951) 403-0567 | gkoenen@myprovident.com

They Want to See Diversity and Inclusion

This highly educated, highly diverse generation is craving a passion and dedication to diversity and inclusion from their employers. As a result, “86% of

Gen Z job seekers cite a commitment to diversity important factor in deciding whether or not to accept Here it is very important company to talk the talk the walk. Diversity and cannot just be a phrase company’s mission statement a committee that meets quarter. This dedication to be seen in initiatives asking one’s pronoun preference, adequate accommodations those who are differently-abled, policies to ensure fair and pay, etc.

They Want an Offer, and Want it NOW

Standard HR procedures

it difficult to establish a committee and follow the protocol when extending Gen Z wants no part of

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HELP STOP RENT CONTROL INITIATIVE

2024 BALLOT INITIATIVE WHAT IT DOES

Local jurisdictions will have free rein to impose and expand rent control.

Will prohibit rent increases upon vacancy (also known as vacancy de-control) by eliminating the owner's ability to charge the market rate when a tenant vacates the unit.

Imposes rent control on all properties i ncluding single-family homes and condominiums by eliminating AB 1482 protections.

FACTSHEET

A new rent control initiative will be on the November 2024 ballot.

PROPERTY OWNERS WHY IT MATTERS

Your rental income and property value will decline.

If you are renting your units below market, you may never catch up because the initiative allows local jurisdictions to "cap" how much you may increase rent following a vacancy.

Rent "caps" would apply to single-family homes and condominiums.

To stop this so-called "Justice for Renters" initiative in 2024, CalRHA and its affiliates are asking for your support and contribution to fight this third attempt by the same anti-housing activists behind Propositions 10 and 21 from 2018 and 2020. CalRHA and its regional associations collectively need to raise a minimum $5 million dollars, so we're all in this together.

To make a contribution, please scan the QR code. Thank you for your generosity.

$5 MILLION TARGET

The last rent control fight cost the broader housing industry $80 million dollars. This next fight will cost even more.

DEDICATED FUNDS

Funds will be deposited into a dedicated account specifically for fighting the initiative.

SUCCESS TOGETHER

We defeated both the 2018 and 2020 rent control initiatives. With your support, we can do it again.

SAN DIEGO GAS & ELECTRIC & 211 PARTNERING FOR YOUR SAFETY

We all need a little help sometimes. During wildfire season, some of us need a little more help. That’s why SDG&E® is working with 211 San Diego to help provide additional customer assistance if a Public Safety Power Shutoff is necessary.

To get connected to community, health, social and disaster services, please call 211 or visit 211sandiego.org.

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