SF Apartment Magazine March 2023

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SF APARTMENT

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March 2023 / $7.00 NEW WAYS TO SAVE Off the BEATEN TAX
Some of Our Recent Offerings For Additional Information Please Contact Us! Trusted advisors to San Francisco Apartment Building Owners For over 30 years. The #1 multifamily brokerage team in San Francisco with over 16,000 units sold, valued at over $4.881 billion. End of Year Report 2022 For Sale For Sale For Sale James Devincenti Vice Chair +1 415 288 7848 j.d@colliers.com lic. 00951916 Brad Lagomarsino Vice Chair +1 415 288 7847 brad.lago@colliers.com lic. 01058500 Dustin Dolby Executive Vice President +1 415 288 7872 dustin.dolby@colliers.com lic. 01963487 Visit us at: www.thedlteam.com We do the research to help you make informed investment decisions. Scan the QR code with your smartphone to access the full report In our latest report, we give an in-depth analysis of how value and liquidity is impacted by its location within The City. 1652-1656 Taylor Street 7 Units (Russian Hill) 1332 California Street 12 Units (Nob Hill) 501 Hayes Street 18 Units (Hayes Valley)

JAY G REENBE RG

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All materials pre sented herein is intended for informational Purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any descriptions. This is not intended to solicit property already listed. As an established and recognized leader in the San Francisco Apartme et, MY TEAM AND I Things change very quickly in the marketplace and information is the key to success. If Selling is on the horizon, do not miss the opportunity to consult with us. C O M PASS COMMER CIAL • SF 3 7 74° 94'N" W"75'52°221 VITALY RUTUS INVESTMENT ADVISOR COMPASS COMMERCIAL 802 VITALYRUTUS E: 01961739 JAY GREENBERG SENIOR DIRECTOR MASON MCDOWELL INVESTMENT ADVISOR COMPASS COMMERCIAL 415.686.0630 MASON.MCDOWELL@COMPASS.COM LICENSE: 02019786 12 Units | North Panhandle List Price: $4,500,000 Sale Price: $4,,725,000 24 Units | North Panhandle List Price: $7,950,000 Sale Price: $8,000,000 Hayes Valley List Price: $1,8500,000 Sale Price: $1,875,000 7 Units | Noe
Inner Sunset List Price: $1,975,000 Sale Price: $2,025,000 Things change very quickly in the marketplace and information is the key to success. If Selling is on the horizon, do not miss the opportunity to consult with us. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All materials presented herein is intended for informational Purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any descriptions. This is not intended to solicit property already listed. VITALY RUTUS INVESTMENT ADVISOR COMPASS COMMERCIAL 415.802.6415 VITALY@VITALYRUTUS.COM MASON MCDOWELL INVESTMENT ADVISOR COMPASS COMMERCIAL 415.686.0630 MASON.MCDOWELL@COMPASS.COM DRE 020197686 JAY GREENBERG SENIOR DIRECTOR COMPASS COMMERCIAL 415.378.6755 JAY@JAYHGREENBERG.COM DRE 01049568 As an established and recognized leader in the San Francisco Apartment Sales Market, MY TEAM AND I ARE HERE FOR YOU. List Price: $6,000,000 Sales Price: $6,200,000 7 Units I Noe Valley List Price: 1,950,000 Sale Price: $2,000,000 21 Units I Nob Hill List Price: $5,375,000 Sales Price: $5,410,000 2 Units I Inner Sunset Sales Price: $2,025,000 Hayes Valley List Price: $1,850,000 Sale Price: $1,875,000 Please call or email us if you’d like more information on the listings above, or about current market conditions. INCONTRACT 415.814.8266 esuharski@apr.com lic.: 01239804 4005 CALIFORNIA STREET 12 residential units 99 LUPINE AVENUE 25 residential units LYON STREET 537-541 VALENCIA 6 residential units + 2 commercial units 6/2/2017 4:08:54 PM
established and recognized leader in the San Francisco Apartment Sales Mark MY TEAM AND I ARE HERE FOR YO U. Things change very quickly in the marketplace and information is the key to success. If Selling is on the horizon, do not miss the opportunity to consult with us. SF .COM JAY GREENBERG SENIOR DIRECTOR COMPASS COMMERCIAL 415.378.6755 JAY@JAYHGREENBERG.COM LICENSE: 01049568 MASON MCDOWELL COMPASS COMMERCIAL MASON.MCDOWELL@COMPASS.COM 12 Units | North Panhandle List Price: $4,500,000 Sale Price: $4,,725,000 24 Units | North Panhandle List Price: $7,950,000 Sale Price: $8,000,000 Hayes Valley List Price: $1,8500,000 Sale Price: $1,875,000 7 Units | Noe Valley List Price: $1,950,000 Sale Price:$2,000,000 2 Units | Inner Sunset List Price: $1,975,000 Sale Price: $2,025,000 OLD Please call or email us if you’d like more information on the listings above, or about current market conditions. PENDING Alain Pinel Realtors Investment Group SAN FRANCISCO’S #1 APARTMENT BROKERAGE FIRM 2009 - 2016 Over $1.5 Billion Sold / 4,000+ Units Sold Since 2009 INCONTRACT AVAILABLE MARK BONN 415.614.4354 mbonn@apr.com lic.: 01008844 MIRELLA WEBB 415.814.6699 mwebb@apr.com lic.: 01409540 TRIGG SPLENDA 415.593.8616 tsplenda@apr.com lic.: 01484698 JAY GREENBERG 415.593.8615 jaygreenberg@apr.com lic.: 01049568 JIM MURPHY 415.814.6992 jmurphy@apr.com lic.: 01316368 PAUL RADCLIFFE 415.814.6998 pradcliffe@apr.com lic.: 01320976 TOM RYGLINSKI 415.814.6994 VITALY RUTUS 415.814.6696 vrutus@apr.com lic.: 01961739 JEREMY WILLIAMS 415.814.8203 jeremyw@apr.com lic.: 01952594 If you’ve been considering a sale or purchase, we are ready to help you! 4005 CALIFORNIA STREET 12 residential units 99 LUPINE AVENUE 25 residential units 800 LYON STREET 12 residential units 1312 JACKSON 21 residential units 537-541 VALENCIA 6 residential units + 2 commercial units SFAA_Ad_All_Office-July_2017.indd 1 6/2/2017 4:08:54 PM SOLD Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. sented herein is intended for informational Purposes only and is compiled from sources deemed reliable but has not been verified. Changes sale or withdrawal may be made without notice. No statement is made as to accuracy of any descriptions. This is not intended to solicit property JAY G REENBE R As an established and recognized leader in the San Francisco MY TEAM AND I ARE HERE Things change very quickly in the marketplace information is the key to success. If Selling is on the horizon, do not miss consult with us. C O M PASS COMMER CIAL • SF 3 7 74° 94'N" W"75'52°221 VITALY RUTUS INVESTMENT ADVISOR COMPASS COMMERCIAL 802 .6 415 @VITALYRUTUS.COM E: 01961739 JAY GREENBERG SENIOR DIRECTOR COMPASS COMMERCIAL 415.378.6755 JAY@JAYHGREENBERG.COM LICENSE: 01049568 24 Units | North Panhandle List Price: $7,950,000 Sale Price: $8,000,000 3 Units | Hayes Valley List Price: $1,8500,000 Sale Price: $1,875,000 2 Units | Inner Sunset List Price: $1,975,000 Sale Price: $2,025,000 Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All sented herein is intended for informational Purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, sale or withdrawal may be made without notice. No statement is made as to accuracy of any descriptions. This is not intended to solicit property JAY G REENBE RG As an established and recognized leader in the San Francisco MY TEAM AND I ARE HERE FOR Things change very quickly in the marketplace information is the key to success. If Selling is on the horizon, do not miss consult with us. C O M PASS COMMER CIAL • SF 3 7 74° 94'N" W"75'52°221 VITALY RUTUS INVESTMENT ADVISOR COMPASS COMMERCIAL 802 .6 415 @VITALYRUTUS.COM E: 01961739 JAY GREENBERG SENIOR DIRECTOR COMPASS COMMERCIAL 415.378.6755 JAY@JAYHGREENBERG.COM LICENSE: 01049568 24 Units | North Panhandle List Price: $7,950,000 Sale Price: $8,000,000 SOLD 3 Units | Hayes Valley List Price: $1,8500,000 Sale Price: $1,875,000 SOLD 2 Units | Inner Sunset List Price: $1,975,000 Sale Price: $2,025,000 SOLD SOLD
Valley
APARTMENT SF 20 Features 20 Tax of All Trades by JOAQUÍN TORRES 26 Look Before You Lease by PAM MCELROY contents SF APARTMENT
SF APARTMENT MAGAZINE | MARCH 2023 5 8 The News What a Relief 12 Rent Board Redux ADU Dues by THE SAN FRANCISCO RENT BOARD 16 Legal Q&A Through the Roof by VARIOUS AUTHORS 30 Market View Re-Bound to Happen by JAY GREENBERG 36 The Bridge Brief Fit the Build by VARIOUS AUTHORS 26 APARTMENT Columns Membership 46 Calendar 48 Professional Services Directory 52 Membership Application
6 MARCH 2023 | SF APARTMENT MAGAZINE Leasing • Management • Project Management Vertex Property Group • 545 Francisco Street • San Francisco, CA • 94133 • 415.608.3050 • Vertexsf.com Vertex Property Group is a team of experts—in leasing, maintenance, and city property regulations. So when you choose us, you get people who understand the priority: Your Bottom Line. ANYONE CAN MANAGE YOUR PROPERTY. WE’D RATHER PROTECT YOUR INVESTMENT.

SF APARTMENT magazine

San Francisco Apartment Association Office

265 Ivy Street San Francisco, CA 94102

Tel 415-255-2288 Fax 415-255-1112

Email memberquestions@sfaa.org

Web www.sfaa.org

SFAA Staff

Executive Director Janan New Deputy Director Vanessa Khaleel

Education Specialist Stephanie Alonzo

Government and Community Affairs Charley Goss

Marketing Lara Kisich

Member Services Gershay Castaneda

Member Services Maria Shea

Accountant Crystal Wang

SFAA Officers President J.J. Panzer

Vice President Robert Link

Treasurer Jim Hurley

Secretary Kent Mar

SFAA Directors

Eric Andresen, Honor Bulkley, David Gruber, Neveo Mosser, Chris Bricker, Bert Polacci, James Sangiacomo, Dave Wasserman, Paul Gaetani

VOLUME XXXV, NUMBER 3

MARCH 2023

Published by San Francisco Apartment Association

Publisher Vanessa Khaleel

Editor Pam McElroy

Art Director Jéna Safai

Production Manager Cameron Shaw

Tel 415-255-2288

Web www.sfaa.org

SF Apartment Magazine (ISSN 1539-8161) Periodicals Postage Paid at San Francisco, California and at additional mailing offices. POSTMASTER: Send address changes to the SF APARTMENT MAGAZINE, 265 Ivy Street, San Francisco, CA 94102.

The SF Apartment Magazine is published monthly for $84 per year by the San Francisco Apartment Association (SFAA), 265 Ivy Street, San Francisco, CA 94102. The SF Apartment Magazine is not responsible for the return or loss of submissions or artwork. The magazine does not consider unsolicited articles. The opinions expressed in any signed article in the SF Apartment Magazine are those of the author and do not necessarily reflect the viewpoint of the SFAA or SF Apartment Magazine. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional services. If legal service or other expert assistance is required, the services of a competent person should be sought. Acceptance of an advertisement by this magazine does not necessarily constitute any endorsement or recommendation by the SFAA, express or implied, of the advertiser or any goods or services offered. Published monthly, the SF Apartment Magazine is distributed to the entire membership of the SFAA. The contents of this magazine may not be reproduced without permission. Publisher disclaims any liability for published articles. Printed by Printing Partners Copyright @2023 by SFAA.

SF APARTMENT MAGAZINE | MARCH 2023 7

What a Relief

It’s that time of year again! The below information may provide some relief as you’re working to file your taxes. Note: The following information is a general update. SFAA encourages members to work withs tax professionals. For a list of SFAA-affiliated tax professionals, turn to the Member Directory on page 48.

Winter Storm Tax Relief

Californians impacted by winter storms are eligible to claim a deduction for a disaster loss and will be granted an extension.

Claiming disaster losses: When filing the tax return, taxpayers should write the name of the disaster in blue or black ink at the top of the tax return to alert the Franchise Tax Board (FTB). If filing electronically, taxpayers should follow the software instructions to enter disaster information. If a taxpayer receives a late filing or payment penalty notice related to the postponement period, they should call

the number on the notice to have the penalty abated.

Tax extension: To help alleviate some of the stress many have endured during this trying period, the FTB has extended the filing and payment deadlines for individuals and businesses in California until May 15, 2023.

This relief applies to deadlines falling on or after January 8, 2023, and before May 15, 2023, including the 2022 individual income tax returns due on April 18 and the quarterly estimated tax payments, typically due on January 17, 2023 and April 18, 2023.

The IRS announced tax relief for Californians affected by these winter storms. Taxpayers affected by these storms qualify for an extension to May 15, 2023 to file individual and business tax returns and make certain tax payments. This includes:

• Individuals whose tax returns and payments are due on April 18, 2023

• Quarterly estimated tax payments due January 17, 2023 and April 18, 2023

• Business entities whose tax returns and payments are due on March 15, 2023

• For a list of California declared disasters, visit ftb.ca.gov/file/business/ deductions/disaster-codes

Informal Review Request— March 2023

If you believe your property’s assessed value is higher than the current market value, you may request an Informal Assessment Review between January 2, 2023 and March 31, 2023. This applies to single-family dwellings, residential condominiums, townhouses, live-work lofts, and cooperative units.

We’ve heard from quite a few members who’ve filled out the form and ended up saving thousands on their tax bill. Why not give it a shot?

Online submissions are preferable (sfassessor.org > Forms & Notices), but alternately you may send your request to: San Francisco Assessor-Recorder’s Office, Attn: Informal Review, 1 Dr. Carlton B. Goodlett Place, City Hall, Room 190, San Francisco, CA 94102. You can also fax 415-554-7915 or email InformalReviewRP@sfgov.org. Be sure to keep a copy for your records.

8 MARCH 2023 | SF APARTMENT MAGAZINE
COLUMN THE NEWS
Don’t miss the myriad of programs available to lower your tax bill.
SF APARTMENT MAGAZINE | MARCH 2023 9 ALLISON CHAPLEAU Vanguard Commercial | Senior Vice President 415.516.0648 | allison@allisonchapleau.com | License: 01369080 ALLISONCHAPLEAU.COM Considering Buying or Selling a Multi-Unit Property? Allison specializes in the sale of multi-unit, mixed-use and commercial properties in San Francisco. With over 21 years of experience in selling investment properties, she can help maximize the value of your property. ALLISON CHAPLEAU MULTI-UNIT. MIXED-USE. COMMERCIAL. LISTED & SOLD 2022 3 Units in the Outer Richmond $1,400,000 4 Units in Noe Valley $2,288,000 2 Units in Bernal Heights $1,600,000 2 Units in Eureka Valley $1,900,000 5 Units in South Beach $2,000,000 42 Units in Alamo Square $18,050,000 October 2022 October 2022 September 2022 July 2022 August 2022 August 2022 12 Units in the Outer Sunset $4,780,000 5 Units in Oakland, CA $2,040,000 July 2022 July 2022 4 Units in Bernal Heights $1,220,000 September 2022 3 Units in Cole Valley $1,525,000 July 2022 4 Units in Noe Valley $2,400,000 2 Units in Cow Hollow $1,710,000 June 2022 June 2022 3 Units in Berkeley, CA $1,480,000 June 2022 2 Units in Russian Hill $2,600,000 4 Units in the Lower Haight $1,450,000 June 2022 June 2022 2 Units in Bernal Heights $1,300,000 June 2022 Lot in Lone Mountain $3,250,000 10 Units in Potrero Hill $3,888,888 June 2022 May 2022 2 Units in Noe Valley $1,720,000 May 2022 2 Units in Noe Valley $1,550,000 36 Units Downtown SF $9,000,000 May 2022 May 2022 4 Units in Oakland, CA $2,008,000 May 2022 4 Units in Noe Valley $1,550,000 3 Units in Glen Park $2,306,800 April 2022 April 2022 2 Units in Visitacion Valley $930,000 March 2022 3 Units in Pacific Heights $3,300,000 March 2022 2 Units in Dogpatch $2,200,000 February 2022 3 Units in Mission Dolores $1,750,000 3 Units in Mission Dolores $1,805,000 January 2022 January 2022 4 Units in SOMA $1,495,000 2 Units in Eureka Valley $1,955,687 2 Units in the Richmond $1,720,000 November 2022 November 2022 November 2022 2 Units in Haight Ashbury $2,125,000 November 2022 78 Units in Daly City $22,500,000 4 Units in Lower Pacific Heights $2,000,000 4 Units in Noe Valley $1,575,000 December 2022 December 2022 December 2022

Fire Alarm Upgrade Deadline— July 2023

By now, you’ve probably heard about the San Francisco fire alarm code section 1103.7.6.1, which was adopted in 2016. The entire process can take anywhere from two to four months, so if you haven’t started the process yet, don’t wait any longer.

Building owners of (R-2) residential buildings with three or more units with an existing building fire alarm system need to comply with sound level requirements for sleeping areas by July 2023. Alarm systems have to pass the “pillow test,” meaning the central fire alarm system must be loud enough for all residents to hear it from their bedroom (meeting a sound level of at least 75 dBA).

If this applies to you and you haven’t upgraded your fire alarm system, contact your existing fire alarm provider and see what they can do for you. They may already know what needs to be done and can help with your unique building. The alarm system professional you work with should consider whether or not you have electronic floor plans available, if there’s an elevator or sprinkler system in your building, or if you have construction or remodeling work planned.

For a list of SFAA-affiliated alarm system professionals, turn to page 48 for the member directory. For more information on the legislation and FAQs, visit sf-fire. org/308-sleeping-area-fire-alarm-requirements

SFAA Landlord Expo

Come join SFAA and local rental property owners for a free educational event covering all things multifamily housing. Hear from the Department of Building Inspection, the San Francisco Fire Department, and the San Francisco Rent Board. The event will end with a beer and pretzel happy hour where you can chat with vendors, including landlord attorneys, plumbers, property management companies, and more. The event will take place on May 18, 2023, at the Fort Mason Gallery 308. Look for more

details at sfaa.org and on pages 42 and 61 of this magazine.

SFAA Updates

SFAA office reopening status: As the SFAA pivots to a hybrid in-office work model, members are welcome to make an appointment to visit the office with questions. However, please refrain from coming in person if you have tested positive for, were exposed to, or have symptoms of COVID-19.

The best way to have your questions answered is through email: MemberQuestions@sfaa.org. And just a friendly reminder, timely payment of membership dues is the best way to help the association help you.

SFAA member meetings: The first inperson member meeting since the 2020 shelter-in-place is scheduled! Mark your calendars for March 15, 2023.

Annual 2023-2024 Rent Increase

For rent-controlled units, the annual allowable increase amount effective March 1, 2023, through February 29, 2024, is 3.6%. This amount is based on 60% of the increase in the Consumer Price Index for All Urban Consumers in the Bay Area, which was 6% as posted in November 2022 by the Bureau of Labor Statistics.

To calculate the dollar amount of the 3.6% annual rent increase, multiply the tenant’s base rent by .036. For example, if the tenant’s base rent is $2,000.00, the annual increase would be calculated as follows: $2,000.00 x .036 = $72.00. The tenant’s new base rent would be $2,072.00 ($2,000.00 + $72.00).

To learn more about the San Francisco Rent Board, call 415-252-4602 or go to sfrb.org

PARENTTO-CHILD TRANSFERS

Q. If a 1% interest in a property is transferred from parent to child (or child to parent), do BOTH parties have to reside at the property in order to NOT have the property reassessed? My daughter now lives in Oregon and no longer wants an interest in the property.

A. We are understanding the question to be about the new law passed under Proposition 19 and the requirements to be excluded from reassessment.

Once our office determines that a change of ownership has occurred, state law under Proposition 13 requires us to reassess the property to its current fair market value as of the date the ownership changed. From the situation you described, where 1% of the property changed ownership (from the parent to the daughter), only that portion of the property that changed ownership would be subject to reappraisal. Since 1% of your property was transferred, our office would reassess only 1% of the property at its fair market value as of the date of the transfer and deduct the remaining from any existing base year value.

For the property not to be reassessed under the Prop 19 Parent to Child Reassessment Exclusion, the property must be the principal residence of the transferor and be (or become) the principal residence of the transferee (transferee must file a Homeowner’s Exemption claim form within one year of the transfer date to qualify for the Prop 19 exclusion). Also, Prop 19 has a value limit component, so it’s not like Prop 58 where it would be fully excluded. The assessor’s office will work on the value calculation based on the fair market value to determine if the transfer qualifies for the Prop 19 exclusion.

For more on Prop 19, turn to “Tax of all Trades” on page 20.

10 MARCH 2023 | SF APARTMENT MAGAZINE
SF APARTMENT MAGAZINE | MARCH 2023 11 Adam Filly m: 415.516.9843 | adam@adamfilly.com DRE 01354775 | www.AdamFilly.com Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Apartments | Mixed-Use | Commercial Adam Filly | Exceeding Expectations Adam takes great pride in achieving outstanding results for his clients and he has the track record to prove it. Call or email to consult on any real estate matter. Available 548 Steiner St | 6 Units $2,600,000 l Alamo Square #1 Compass Commercial Agent in California 2019-2022 Available Available 2840 Octavia St | 4 Units $1,795,000 | Cow Hollow 241-249 Dolores St | 6 Units $3,500,000 | Dolores Park 1371-1379 Minna St | 9 Units $4,750,000 1045-1049 Bush St | 17 Units 1227 Masonic Ave | 11 Units $2,950,000 4826 Mission St | 5 Units $2,150,000 In Contract Available Sold | Jan 2023 Available Available 407-409 Lyon St | 6 Units $2,295,000 | NOPA

ADU Dues

therefore, will probably be forced to leave San Francisco.

Editor’s Note: The following San Francisco Rent Board cases are real, though they have been edited for space and clarity. They have been selected to highlight some of the more interesting cases that the board reviewed at its recent commission meetings. For full Rent Board agendas and minutes, please visit sfrb.org.

800 Block of Corbett Avenue

The tenants’ objection to the landlord’s ADU Declaration was denied. The ALJ found that the landlord’s proposed ADU construction project would not result in a substantial reduction in housing services pursuant to Rent Ordinance Section 37.2(r).

On appeal, the tenant of one unit argues in part that the relocated parking spaces will be inaccessible to the tenants and that the ALJ failed to consider whether the tenants’ right to quiet enjoyment will be impacted by the work.

A property manager for the landlord stated that no shared housing services provided to the tenants would be removed as a result of the ADU construction. He said that the area described as a “loading zone” by the tenant appellant is not a loading zone and that no tenants have access to the building storeroom in the basement of the building.

A representative for the landlord stated that only one tenant appealed the ALJ’s decision, and that the comments submitted by neighbors in adjacent buildings have no relevance to the

appeal. He stated that all the proposed parking spaces in the landlord’s ADU construction plans are virtually the same size as the existing spaces, which are equal to, or larger, than the parking space dimensions required by the Planning Code. He stated that although the building’s existing garage can be challenging to maneuver, the design plan for the work accounts for maneuverability, which will not be substantially impacted by the changes.

A tenant of the building told the Board that tenant opposition to his landlord’s planned ADU construction is what inspired the recent legislation that allows for Rent Board review of ADU plans. He stated that his case was one of the first under the new law, and that the ALJ took a “narrow and rigid” view of the law that ignored the tenants’ objections related to noise and maneuverability.

The tenant stated that, according to his research, in cases with similar facts decided by different Rent Board ALJs, the ALJ upheld the tenants’ objections related to parking maneuverability. He also stated that the author of the ADU legislation itself, an aide for Supervisor Mandelman, confirmed that the ALJ should have considered any temporary impacts on the tenants during the construction work, including the anticipated loss of quiet enjoyment and other disruptions. He stated that if the landlord is allowed to proceed with construction, several disabled seniors will be unable to park their cars in the garage, and

Decision: To deny the appeal (3-2).

200 Block of Guerrero Street

The landlord’s petition for a determination pursuant to the Costa-Hawkins Rental Housing Act was granted. The ALJ found that a rent increase was authorized because all of the original occupants vacated and the tenant respondent is a subtenant who moved in after the tenancy commenced. The tenant appeals the decision on the ground that he is an original occupant who moved into the unit with the landlord’s permission at the same time as the rest of his family members.

The landlord’s attorney said the tenant disguised himself as one of the original leaseholders “for years,” and produced false identification to avoid a rent increase. He stated that the ALJ wrote a thorough decision based on many exhibits and two days of arbitration, and that the previous decision should be upheld.

The tenant’s attorney stated that the appeal does raise questions of law, contrary to the landlord attorney’s characterization of the appeal. Specifically, she stated that the ALJ incorrectly interpreted the term “occupy” for the purpose of the Costa-Hawkins Rental Housing Act. She also stated that the undisputed evidence showed the tenant was in possession of the unit at the start of the tenancy, and that the Commission should reverse the decision.

Decision: To deny the appeal (3-2).

12 MARCH 2023 | SF APARTMENT MAGAZINE COLUMN RENT BOARD REDUX
Check all the boxes when planning an ADU.
SF APARTMENT MAGAZINE | MARCH 2023 13 3 Large Flats Haight-Ashbury Dan McGue Senior Commercial Broker Associate Lic# 00656579 415.310.5787 | dan@danmcgue.com | www.danmcgue.com DAN McGUE SAN FRANCISCO’S LEADING APARTMENT BROKER OVER $3.1 BILLION IN TOTAL SALES! © 2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. Each sales representative and broker is responsible for complying with any consumer disclosure laws or regulations. SOLD! Available Available GREAT INVESTMENT PROPERTIES FOR SALE! 6 Apartment Units Mission District Available 8 Large Units + Parking Eureka Valley 3 Large Flats Haight-Ashbury SOLD! SOLD! 3 Large Flats NoPa RECENTLY SOLD PROPERTIES! 6 Apartments + Parking Presidio Heights 24 Studio Apartments + 5 Commercial Hayes Valley Available 7 Large Apartments Lake St. District

INTEREST ON DEPOSITS

The rate of interest owed on deposits for the period March 1, 2023 through February 29, 2024 is 2.3%.

The rate of interest owed on deposits for the period March 1, 2022 through February 28, 2023 is 0.1%. The new rate is published annually by the Rent Board.

The Rent Board calculates the interest rate according to the annual average of the 90-Day AA Financial Commercial Paper Interest Rate (rounded to the nearest tenth) for the immediately preceding calendar year as published by the Federal Reserve.

The above information was reprinted from the Rent Board. For more information, visit Sfrb.org.

1900 Block of Page Street

A tenant stated that she had not yet seen the landlord’s revised ADU construction plans and asked that the case be remanded for a supplemental hearing so that the tenants can review the new plans and raise any objections.

Another tenant stated that the sufficiency of bike storage in the building is an important issue, and that both he and a co-occupant keep bicycles on the premises that they use to commute to work each day. He stated that the revised ADU construction plans submitted by the landlord on appeal are confusing and contradictory, and that the tenants deserve a chance to review the landlord’s revised plans at a supplemental hearing.

A tenant stated that the landlord’s revised ADU construction plans were not part of the original hearing and asked that the landlord’s appeal be denied or remanded for a supplemental hearing to allow the tenants to review the plans.

The tenants’ objection to the landlord’s ADU Declaration was granted. The

ALJ found that the landlord’s proposed ADU construction project, resulting in a reduction of bike parking spaces, constitutes a substantial reduction in housing services pursuant to Rent Ordinance Section 37.2(r).

On appeal, the landlord argues in part that their current construction plans will accommodate more bike parking spaces than previously proposed.

Decision: To accept the appeal and remand the case for a supplemental hearing to allow consideration of the proposed amended plans and to give the tenants an opportunity to respond (5-0).

For more information, visit. Sfrb.org

Legal Questions

Confused about local and statewide rental housing laws? Take advantage of SFAA’s legal information network. Before every SFAA General Membership Meeting, a diverse panel of San Francisco landlord attorneys answers your questions about your property, your tenants and the San Francisco Rent Ordinance. SFAA monthly meetings and legal panels are a benefit just for members, so make sure you are getting the most out of your membership and be sure to attend the next meeting. Email Maria with questions for the panel: maria@sfaa.org

14 MARCH 2023 | SF APARTMENT MAGAZINE
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Through the Roof

Q.My tenants keep getting on the roof, claiming they have “roof-deck rights.” There is no roof deck. What do I do?

A. This is very common problem and a problem it is, from many angles: potential liability for landlords, escalation of landlord/tenant rights disputes, violations of San Francisco Planning and Building Department permitting rules regarding setbacks, neighbor notification, health and safety, complaints by neighboring property owners/occupants, etc.

For this column, I’ll address only the “illegal” use of the roof: when there is no permit-issued roof deck construction or specific provision in the lease or agreement between the landlord and tenant that allows use of the permitissued roof deck as an amenity to the tenant’s occupancy (for which the tenant pays to utilize).

In many multi-unit buildings, there can be an emergency exit door allowing roof access in case of emergency. That is, pursuant to San Francisco Planning and Building Codes, buildings exceeding a particular square footage may require an unlocked, unfettered roof access door in case of emergency, allowing occupants onto the roof to reach the fire escape of the building and/or as an “area of refuge” for safety and ultimate rescue by personnel of emergency services.

As these roof access doors must be left unlocked for the reasons stated above, tenants/occupants (and their guests) may decide to go on the roof during non-emergency situations—that is anytime they so desire—to take a look around, hang out, bring a beach chair, drinks, food, etc. Sometimes, the illegal use of the roof by tenants is very elaborate, including chairs, tables, umbrellas, BBQs, “floor coverings,” planted gardens, etc. I have even experienced a “wet bar” and dance floor set up on a roof by tenants of a building— all illegal activity!

A roof deck requires approvals from the City and County of San Francisco. Without said approval, the roof may not be used as a common-area amenity by the tenants. If a neighboring property owner (or any interested party) complains to the Building Department of these tenant activities, the landlord will be issued a Notice of Violation, requiring either abatement of the use or directing the landlord to the option of obtaining a permit for said roof deck.

Without a permit, no roof deck activity. A permit would not issue if it violates the Planning Code and/or Building Code. These design guidelines imposed by the City address setbacks, privacy concerns by other neighbors, required neighborhood notification to surrounding property owners, etc. (No one wants to live beside tenants partying on a roof,

so don’t expect the support of your neighbors). Then, the Building Department shall require appropriate construction materials, plans, inspections, for example—sometimes a very expensive endeavor.

However, if the landlord has been allowing the activity for some time—either inadvertently or deliberately—the landlord may then be vulnerable to a claim by the tenant users of a reduction in housing services when it is confirmed the landlord cannot obtain a permit. Further complicating matters, if you have numerous sets of tenants utilizing the roof: Upon whom do you serve the Notice of violation of lease covenant? Which tenants do you evict? All of them? Some of them? Without proof (via video surveillance) of the perpetrator(s), landlords risk accusing/ terminating the wrong tenants.

And we are all aware of accidents over the years when persons fall from roofs, roof decks, balconies—many of said tragic events have occurred with properly constructed and permitted roof deck elements. It is a liability and expense that may not be covered by insurance should an injury occur and/ or a claim be made due to the illegal roof access activity.

Landlords must take action to stop this activity immediately. Landlords should post signs on the emergency roof access doors indicating said roof access is in case of emergency only, is deemed a trespass if accessed by tenants for non-emergency purposes, and send a letter to all tenants confirming the terms of the Emergency Roof Access Door usage. The door should trigger an alarm—either silent or sounded— to the landlord, property manager,

16 MARCH 2023 | SF APARTMENT MAGAZINE
COLUMN
As the weather gets warmer, don’t forget that without a permit, there should be no roof deck activity.
LEGAL Q&A
SF APARTMENT MAGAZINE | MARCH 2023 17 Call us for a FREE and confidential valuation of your property or to consult about your real estate needs. Mark Bonn Managing Director 415.225.8658 mark.bonn@compass.com lic.: 01008844 Mirella Webb Senior Investment Advisor 415.640.4133 mirella.webb@compass.com lic.: 01409540 www.bonnwebbteam.com Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All materials presented herein is intended for informational Purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any descriptions. This is not intended to solicit property already listed. COMMERCIAL NEWEST LISTINGS BY THE BONN/WEBB TEAM JUST LISTED | 561 BAKER STREET | 11 UNITS IN NOPA JUST LISTED | 3345 18TH STREET 10 UNITS IN THE MISSION JUST LISTED | 1000 VALENCIA STREET 10 UNITS IN MISSION DOLORES

or onsite manager that the trespass is occurring. I highly encourage video surveillance of the door to “catch” any perpetrator and take swift action of the violation about the lease covenant.

Q. I’m only getting section-8 applicants for my vacant units. I’ve never rented to a section-8 tenant before. Is there anything I should know before moving forward?

A.Many of the features of a Section 8 tenancy will be new to you, but keep in mind, a Section 8 tenancy is still a tenancy. Of course, you do need to understand the differences so you can comply with the regulations.

First, it is important for you to know that, while you have some flexibility in selecting your future tenants, you actually cannot discriminate against Section 8 applicants. California’s Fair Employment and Housing Act protects prospective tenants from discrimination against categories like race, religion, gender, etc. A 2018 case reviewed a challenge to a local ordinance expanding these protections to “source of income” (including Section 8 housing choice vouchers).

The Court of Appeal in CCSF v. Post upheld San Francisco’s authority to expand these protections, and while many were confused by the decision (that acknowledged the State law’s field preemption, but let a city define the field), California soon followed suit and protected Section 8 tenants from housing discrimination at the state level.

These rules exist for a reason: not every landlord is enthusiastic about entering a contract with both their prospective tenant and the third-party government agency administering the tenant’s rent subsidy. Of course, you seem eager to explore this new group of applicants, and you have good reason. Vacancy rates are up. Rents are down. While voluntarily vacated units generally fetch market rates, rent control limits rent increases going

forward. Aside from Prop. M’s vacancy tax, San Francisco landlords have a disincentive for landlords to set the price cap of their asset at the nadir of the rental housing market.

And yet the current market is a great reason to consider Section 8 tenants. Rent control establishes a “base rent” at the initial monthly price. The base rent increases at only 60% of our regional CPI until all “original occupants” vacate. (On day 1, tenants pay market rate, but many landlords lament the diminishing cash flow over time.) However, Section 8 rental rates are regulated by HUD (not San Francisco), and they track regional, fair market payment standards over time, not historic market prices fixed at the outset.

This protected revenue stream does come at a cost; Section 8 tenancies face higher scrutiny for habitability inspections. If a landlord fails an annual housing quality standard inspection by SFHA, no rent is owed until the defects are cured. (This could be something as trivial as a single broken stove burner or a single malfunctioning power outlet.) However, this higher standard may be a blessing in disguise. While exempt from rent control, other local tenant protections apply.

And while landlords are often surprised with liability to unhappy tenants (who may not have been forthcoming about issues with their housing), the public housing agencies’ frequent inspections (1) ensure that your housing accommodations remain safe and sanitary; (2) keep your tenants happy; (3) protect you from liability; and (4) ensure that you maintain market rate rental income. If your only applicants are Section 8 tenants, your choice is simple. But even if you have a field of candidates, the benefits of Section 8 tenancies during a pandemic will likely outweigh their increased administrative obligations.

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The information contained in this article is general in nature. Consult the advice of an attorney for any specific problem. Denise Leadbetter is with Koster & Leadbetter, LLP and can be reached at 415-713-8680. Justin A. Goodman is with Zacks, Freedman & Patterson, P.C. and can be reached at 415-956-8100.
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Tax of All Trades

From property tax savings to modernizing systems, read on for an update from San Francisco’s Assessor-Recorder, Joaquín Torres.

20 MARCH 2023 | SF APARTMENT MAGAZINE
Left: Photo by @ Santos Nieto. All remaining photos courtesy of the Office of the Assessor-Recorder.

This past January, I was honored to be sworn in for my first four-year term as Assessor-Recorder for the City and County of San Francisco. I’m humbled by the opportunity that you, the voters of our city, have given me as I continue to serve you.

In my first two years in office since being appointed by Mayor Breed in 2021—and elected twice by the voters—with the assistance of hard-working staff, we’ve supported San Franciscans through one of the most difficult times in our history. The fundamentals of our government rely on the core services that we provide: assessing property and assigning value, fairly and accurately.

Your Dollars at Work

For the fiscal year 2022-2023, our office identified over 211,500 property parcels and 37,000 business assessments in San Francisco, with a total assessed value of nearly $330 billion. It is estimated that this roll value will generate approximately $4 billion in property tax revenue. Generally, 34% of the property tax revenue goes to the school district, 2% to transportation and air quality management, and 64% (or $2.5 billion) goes to San Francisco’s General Fund. Property tax revenue represents over a third (35%) of the general fund budget.

That value comes to life as we invest in the daily needs of our City—affordable housing, public safety, shelter beds, parks, schools, public transit, our economic recovery efforts, public and mental health needs, firefighters, emergency services, and more. All of these depend on the financial foundation built through the hard work of the Office of the Assessor-Recorder.

Priorities Moving Forward

With a focus on integrity and accessibility, the Office of the Assessor-Recorder will continue to advance our priorities by:

• Balancing our work in assessing all taxable property in San Francisco as we address rising appeals brought on by the pandemic. Effective representation of enrolled values at the Assessment Appeals Board ensures property taxes are appropriately adjusted, and that processing is timely and equitable.

• Further developing tools to eliminate barriers and advance transparency for the public in accessing records.

• Modernizing our property tax assessment system and completing the second phase of a multi-year project, “System for Managing Assessment, Records, and Transactions” (SMART), to enable seamless service for the public.

• Bringing new programs and our services into the community to help families—specifically low-income and families of color—protect their hard-earned assets, secure their long-held dreams, and build intergenerational wealth in San Francisco.

As we move forward over the next four years, this work—performed fairly, timely, and equitably—ensures we may support the City’s financial stability through difficult economic times, so vital public services are there to support you.

We strive to promote financial stability for San Francisco’s diverse communities. Through our new free and low-cost estate plans for residents, our expanded Family Wealth Series, which raises public awareness of tax exemption programs; our hosted forums on issues impacting first-time homeowners, such as securing fair appraisals; and implementing the new state AB 1466 law to ensure that racist covenants are removed from recorded documents, we will continue to advance the ideals of racial equity and economic empowerment through financial literacy.

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Excellence and Efficiency in Customer Service

Each year, approximately two hundred thousand documents— such as property deeds, liens, trusts, and maps—are recorded with our office and made part of the public record. While these documents are indeed public, attaining them has not always been free or straightforward. To better serve you, we recognize the need for an easy path to access property records. We are committed to building and maintaining secure and effective technological systems to achieve consistent, superior service for constituents, including upgrades to improve accessibility.

In 2020, for example, we launched a new Recorder Information system, which includes a self-service Public Index Search tool that allows for purchase and instant downloads of recorded documents without having to come to our office in person or mail in requests. This search tool allows constituents and property owners quick access to documents recorded on their property, such as deeds and deeds of trust. This new system also enhances our internal process, creating better and faster workflows as well as providing opportunities for enhanced data validation and tracking capacity.

Additionally, in 2021, the first phase of our property assessment system update, System for Managing Assessment, Records, and Transactions (SMART), was completed. Moving forward, we are excited to complete phase two of this modernization process, which replaces a decades-old system and will allow us to better serve property owners in the following ways:

• Integrate property tax and assessment functions among the Office of the Assessor-Recorder, the Office of the Treasurer and Tax Collector, and the Controller’s Office for enhanced customer service.

• Decrease turnaround time for annual property tax assessments and provide timely tax billing.

• Create taxpayer self-service tools for a better and more transparent experience.

• Build new IT infrastructure, ensuring property owners’ records are housed in a secure and resilient system.

• Enable our office to more easily implement the system changes necessitated by new laws or evolving ownership structures.

• Improve information that is available to the public and policymakers, which will also enable better revenue forecasting and data analysis.

Appealing Your Assessed Value

As changes related to the COVID-19 pandemic, such as remote work, downtown office vacancies, and inflation, continue to impact San Francisco’s economy, I am frequently asked about

the increase and rate at which appeals in property assessments are seen by the City, as well as the process for property owners to contest their assessed value. Assessment Appeals are a resource for property owners who believe their assessed value, assigned by our office, is higher than the current market value.

To begin, our staff uses multiple methods to value property, including the sales comparison (market), cost, and income approaches. We select the most appropriate method reflecting market value as of the event date, such as sales or new construction. For example, with apartment buildings, having access to properties’ operational expense data and rent rolls when valuing such properties helps result in a more accurate appraisals. We do this work in accordance with the state’s Revenue and Taxation code, and the state Board of Equalization guidance and are legally unable to make exceptions. Our office is proud to set the gold standard for fair and accurate assessments; during a recent audit of our assessment valuations and operations by the State Board of Equalization, our office received a 99.92% A+ score.

Generally, there are two ways you could appeal your assessed value.

For small residential properties, our office has a free annual informal review process. This service is only available for single-family dwellings, residential condominiums, townhouses, live-work units, and cooperative units. The property owner may request an Informal Assessment Review for the fiscal year beginning July 1, 2023 and ending June 30, 2024 between January 2, 2023 and March 31, 2023. Please note, this deadline is rapidly approaching. If the market value of your property as of January 1, 2023, is determined to be lower than the factored Prop. 13 value (assessed value), your assessed value will be temporarily reduced to the market value. Your property’s value will be re-examined annually until the market value exceeds the Prop. 13 value, at which time the factored Prop. 13 value will be reinstated. Should you wish to file for an Informal Assessment Review, you can either submit your request online via our website or return a complete form to our office at City Hall. (For detailed instructions, turn to the sidebar on page 55).

For all properties, including commercial properties, you may file a formal appeal with the Assessment Appeals Board, an independent board appointed by the Board of Supervisors to conduct fair and impartial hearings on property assessments. Property owners will receive their Notice of Assessed Value in July for their routine annual property value. If you believe the market value of your property is below the assessed value, you can file a formal appeal at the Assessment Appeals Board between July 2 and September 15. You can do this through the Assessment Appeals Board website: sfgov.org/aab. There will be a required form and a filing fee.

24 MARCH 2023 | SF APARTMENT MAGAZINE
Tax of All Trades… continued
54
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Look Before You Lease

It seems like we could all use a little help navigating the current rental market. With people moving to and from the city, rolling layoffs, and certain neighborhoods still recovering from the pandemic, it’s no wonder! In times like these, it can be hard to know how to invest in your buildings, fill vacancies, and . . . really, just keep up!

We asked a few of SFAA’s top property managers to share their expertise and advice. The following is what they had to say, in their own words.

While we have experienced an increase in demand, we are still somewhat in a renter’s market. Top priorities for tenants include neighborhoods within close walking distance to main shopping corridors and/or parks; in-unit laundry; space to comfortably work from home; and natural light.

We’ve seen a slowdown in renters moving out for better deals as many have already secured low-rent, rent-controlled units during the pandemic. The great news is that we are seeing an increase in renters who are new to the city with employment offer letters.

The market is very much following the massive amount of tech layoffs we’ve experienced in the Bay Area recently. In November and December, we saw demand significantly decrease, even beyond the ordinary seasonal slowdown. Things are getting much better as we head into February and layoffs have slowed down.

My expectation is that rents will continue to climb, slowly but steadily, through end of summer and into the fall.

My advice? Now more than ever, it’s important to ensure you have your best foot forward in terms of unit condition. Very clean, updated units show much better. Get professional photography, create floor plans, and include a virtual tour to help your listings stand out.

Corey Eckert can be reached at ceckert@structureproperties.com.

26 MARCH 2023 | SF APARTMENT MAGAZINE
Need a little help navigating the rental market these days? Read on for some clarity.
SF APARTMENT MAGAZINE | MARCH 2023 27

HRH Real Estate Services Corporation

It wasn’t that long ago when landlords had to do little more than post an ad on Craigslist or hang a sign on their building to rent a vacant unit in San Francisco. People would line up, applications pre-filled, complete with references and personal biographies, all vying to be the first choice. Renters would pay for an apartment a month before their actual move-in date, just to secure a lease.

Wise landlords used this period of high occupancy to build reserves to improve their buildings. They kept their common areas fresh, grounds groomed, and conducted minor unit improvements during occupancies.

In the wake of many large employers diversifying work forces to other states, the unexpected exodus from San Francisco when COVID hit, and the resulting trend in remote work, we have seen record vacancies that have been challenging to fill. Simply lowering rents has done little to motivate prospective renters with so many apartment choices available.

Our anticipated “slow season” (November through January) was the most stagnant many of us have ever seen. The wise landlord, who regularly invested in their building, found themselves ahead of the competitors because they were not faced with sudden and expensive repairs, cash crunches to facilitate improvements, labor shortages, and delays in re-marketing their housing supply.

Adding to the dilemma, those times created a great deal of uncertainty and insecurity for landlords. Those that carry large mortgages were hemorrhaging money in buildings that were sometimes less than 50% occupied. If they weren’t strapped for cash, they were fearful to spend.

Looking at the units I manage and lease, it’s clear that properties that are well-maintained and check the top boxes for prospective renters result in more logged leasing inquiries and applications. Further, they continued to move at or near high-season rates, albeit at marginally slower turns.

For example, a well-appointed two-bedroom apartment in a standard walk-up can fetch $6,000 per month. In contrast, a unit that hasn’t been maintained or lacks desired features rent below $4,000, some as low as $2,500.

Renters’ tastes have become increasingly more refined. They have not seen job cuts to an extreme that their spending has slowed, and they are still searching for two-bedroom units within a $5,500-$6,000 budget.

Expectations have increased as quickly as rising inventory. The most sought-after apartment features include: desirable location; in-unit laundry; extra space for a home office; upgraded kitchens and bathrooms; hardwood flooring; designated parking; outdoor

space and views; reputable management services; additional storage; forced-air heat; and good natural and artificial lighting.

Of course, there are many factors to consider before moving forward with any major renovation plans. What cycle are you in in your investment? Are you building for the long-term in growth and future retirement? Are you retired and on a fixed-income? Is your plan to sell or leave to heirs? Would you need to finance your renovations?

And, finally, what will your return be? If you (1) take the top-tier rental value that a fully-renovated unit could fetch in your building (factoring in your building’s quality, location, and your unit’s size), and then (2) subtract current market rent for that unit, then (3) take the total estimated cost of repairs and divide it by the number you arrived at in Step 2 above, you’ll find your recovery time. If the number you end up with exceeds 48 months, your recovery period may be too high.

Example

Estimated new rent - Current rent

$5,000 - $3,500 = $1500 per month value increase.

Cost of Renovations/Increased Value = Recovery Period

$50,000 / $1,500 = 33 months recovery

While a person cannot create all of the above features, like views or the building location, many of the other items can be achieved via simple and inexpensive fixes and creative marketing.

Renee Engelen can be reached at renee@hrhrealestate.com

Our tenants are moving out due to job relocations or because they are taking advantage of lower housing prices to plunge into homeownership. In addition, many tenants we rented to during the pandemic are now moving back in with roommates to save money or are moving in with their significant others and are looking for a larger space.

Our rent prices are back at pre-COVID levels. Tenants continue to look for deals, but they want updated units including dishwashers and in-unit laundry. We find tenants are taking much longer that usual to decide about an apartment. They view an apartment and then come back to us weeks, even months, later, saying they want to rent it. We suspect that on the heels of the depressed pandemic-era rent prices, tenants are slow to realize the market has recovered. Look Before You Lease… continued on page 58

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SF APARTMENT MAGAZINE | MARCH 2023 29 PROTECTING YOUR INVESTMENT Thinking like an owner rather than a property manager, we always make decisions about your property with you in mind. LIKE IT’S OUR OWN 415-286-5870 info@structureproperties.com PROPERTY MANAGEMENT • LEASING SERVICES • CONSTRUCTION MANAGEMENT

Re-Bound to Happen

2022 proved to be another interesting and exciting year. Downtown San Francisco— one of the hardest-hit areas during the pandemic—is still in recovery mode, facing challenges that include recent loan defaults and high vacancy rates. So far, there has been low sales inventory for 2023. Interest rate hikes appear to be slowing down for the moment, and the rental market is doing well as people continue to return to the city.

But for now, let’s take a look at how 2022 came to a close.

The following are 2022 year-end statistics for the 5-9-unit sector and the 10-plus-unit sector versus the same time period for, 2017, 2018, 2019, 2020, and 2021.

5-9 Units

The average price per square foot has bounced around since 2017 without any big peaks or valleys. The yearend cost per square foot was $535 in 2017, $561 in 2018, and $554 in both 2019 and 2020. Price per square foot dropped a bit to $524 in 2021 and again to $507 in 2022—our lowest figure since 2014.

Gross rent multipliers (GRMs) have been on the decline since 2016, besides 2018, which was a record-breaking year for sales and value indicators. The average GRM was 17.79 in 2017 and 18.32 in 2018. In 2019, the GRM dropped to 16.97, and in 2020, it

dropped to 15.71—the lowest GRM since 2012. The downward trend continued, however, with a GRM of 14.93 in 2021 and 14.47 in 2022.

Like the cost per square foot, the average price per unit has bounced up and down since 2017 without any big peaks or valleys. In year-end price per unit was $457,000 in 2017, $496,000 in 2018, $489,000 in 2019, $484,000 in 2020, and $441,000 in 2021. In 2022, the year-end average price per unit is $428,000—a 3% decrease in a yearover-year comparison.

Year-end dollar volume in the 5-9unit sector has been strong, generally increasing since the financial meltdown of 2008, not including 2020, when there was a significant decline. Dollar volume reached $298 million in 2017, $317 million in 2018, and $349 million in 2019. In 2020, the significant decline resulted in $236 million total sales volume for the year—a 32% decrease in a year-overyear comparison. We bounced back, reaching $358 million by the end of 2021, and dropped slightly to $317 million in 2022—an 11% decrease in a year-over-year comparison.

Transaction levels have remained steady over the years, except for the first year of the pandemic. There were 105 recorded closings by the end of the year in 2017, 104 in 2018, and 107 in 2019. In 2020, there were only 78 recorded closings, the lowest level in the past decade. There was a rebound

in 2021, ending the year with 108 closings, and another jump in 2022 with 117 closings—an 8% increase in a year-over-year comparison.

10-Plus Units

Note: 2018 was a record-setting year for value indicators and transaction levels.

The average price per foot was $555 in 2017, $621 in 2018, $598 in 2019, $544 in 2020, and $520 in 2021. At the close of 2022, the average price per square foot was $447—a 14% decrease in a year-over-year comparison, and our lowest value since 2014.

The average GRM was 16.85 in 2017, 18.33 in 2018, 16.56 in 2019, and 15.54 in 2020. In 2021, we ended the year with an average GRM of 14.15, and in 2022, the GRM dropped again to 13.54—a 4% decrease in a yearover-year comparison, and our lowest value since 2012.

The average price per unit was $404,000 in 2017, $471,000 in 2018, and $466,000 in 2019. There was a 9% decrease to $425,000 in 2020, followed by a second 9% decrease to $385,000 in 2021. The average price per units dropped another 10% to $346,000 in 2022, our lowest value since 2014.

As mentioned previously, dollar volume in the 10-plus unit sector was off the charts in 2018, reaching a record breaking $1.1 billion in sales volume. Before 2018, the previous high was $703 million in 2013. Year-end dollar volume reached $624 million in 2017 before reaching $1.1 billion in 2018. Dollar volume fell to $572 in 2019 and $337 million in 2020—the lowest

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COLUMN MARKET VIEW
Despite rising interest rates and layoffs, our market held in 2022.
SF APARTMENT MAGAZINE | MARCH 2023 31 The property information herein is derived from various sources that may include, but not be limited to, county records and may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. © 2023 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. Each sales representative and broker is responsible for complying with any consumer disclosure laws or regulations. 100% Committed to Long-Term Client Relationships We recognize the long-term value of mutually beneficial relationships far outweighs the short-term value of any particular transaction. 4 Units | 3 & 4 Bedroom Flats Corner 8,200 SF Building Parking for 3 Cars Projected 5.87% Cap Rate Price at $3,250,000 NOB HILL ADD VALUE INVESTMENT FORSALE JUSTSOLD Unit Mix |(4) 1BD/1BA | (1) 2BD/2BA | (1) 3BD/2BA $442,667 Per Unit | 3.46% Cap Rate Highly Sought After Rental Location Buyer Representation BURLINGAME 6 UNIT BUILDING FORSALE Across from UCSF Mission Bay Campus 1 block to Chase Center Last privately owned parcel on the waterfront Asking $7,800,000 THE “600” BUILDING REPRESENTED CLIENTS IN OVER $1.4 BILLION IN CLOSED TRANSCTIONS STEVEN CARAVELLI Senior Commercial Associate 415.229.1367 Steven.Caravelli@cbcnrt.com CalRE #00879834 KEVIN CARAVELLI Sales Associate 415.229.1288 Kevin.Caravelli@cbcnrt.com CalRE #01988049 Two 4 Unit Buildings | 11,300 SF 13,500 SF Double Lot 12+ Car parking Represented 1031 Exchange Buyer EUREKA VALLEY 8 LARGE UNITS JUSTSOLD JUSTSOLD 8 - One Bedroom Units Sold at $362 PSF | 5.36% Cap Rate Represented 1031 Exchange Buyer and Seller INNER MISSION - 25TH & MISSION

dollar volume over the last decade. There was a nice rebound to $554 million in 2021 (after a sluggish start), and another decline to $511 million at the end of 2022—an 8% decrease in a yearover-year comparison.

Transaction levels were very low in 2015 and 2016 before picking up to 88 closed transactions by the close of 2017. After increasing to 103 closed transactions by year-end 2018, there was a significant decrease to 65 closings in 2019 and 46 closing in 2020. There was a rebound in 2021 to 83 closed transactions, and then another drop to 63 closings in 2022—a 24% decrease in a year-over-year comparison.

The source of the numbers reported come from Jay Greenberg & Vitaly Rutus, San Francisco Multiple Listing Service, and Costar Comps.

My Two Cents

The figures above tell a story. The 5-9unit sector was robust through 2022, and through the third quarter, prices held steady. But, as expected, rising interest rates impacted pricing, and toward the end of the year, pricing levels came down.

In the 5-9-unit sector, there was a 3% decline in all reported value indicators in a year-over-year comparison.

The data for the 10-plus-unit sector demonstrates greater weakness in this segment of the market. Price per unit and price per foot values dropped more than 10%, and GRMs decreased by approximately 4%.

Interestingly, 2022’s year-end GRM of 13.54 is the lowest multiplier we have seen since 2012; looking back to the mid90s, it was rare to have a multiplier even this high. Additionally, transaction levels dropped approximately 25% from 2021, and dollar volume dropped approximately 8%.

In the second half of 2022, we started to see some closings in the Downtown sector of San Francisco. Downtown was hit hard during the pandemic, and the

Re-Bound to Happen… continued on page 40

32 MARCH 2023 | SF APARTMENT MAGAZINE
GRMs Source: CoStar Comps Q1 0 2 4 6 8 10 12 14 16 18 20 2018 2019 2020 2021 2022 5-9 Units 10+ Units Price Per Sq. Ft. Source: CoStar Comps Q2 $0 $100 $200 $300 $400 $500 $600 $700 2018 2019 2020 2021 2022 5-9 Units 10+ Units Price Per Unit Source: CoStar Comps Q2 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 2018 2019 2020 2021 2022 5-9 Units 10+ Units Transactions Source: CoStar Comps Q3 0 10 20 30 40 50 60 70 80 90 100 110 120 130 2018 2019 2020 2021 2022 YTD 5-9 Units YTD 10+ Units
SF APARTMENT MAGAZINE | MARCH 2023 33 1853 HYDE STREET ANOTHER GOOD ONE! $2,125,000 FEATURES PRICE CONTACT MATTHEW C. SHERIDAN matt@mavenproperties.com DRE #01390209 415.727.1271 3-FLAT APARTMENT HOUSE 3 UNITS 3 Two-Bedroom Flats Original Condition Tenant Occupied Great Upside RUSSIAN HILL | SAN FRANCISCO 3,042 SQ FT
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Fit the Build

Housing Element

Earlier this year, the Board of Supervisors and Mayor London Breed unanimously voted to amend San Francisco’s Housing Element, which sets out a plan for San Francisco to create over 82,000 new homes in the next eight years.

The approval of the Housing Element is a legislative act that California cities are required to take every eight years. It is a critical step in setting broad goals around how much housing, including affordable housing, that cities aim to build and how they plan to do it. In San Francisco, the Housing Element directs City leaders to create a streamlined approval process for housing, such as:

• Rezoning well-resourced, West-side neighborhoods to allow for increased density, particularly along transit corridors.

• Increasing affordable housing production with a focus on wellresourced neighborhoods.

San Francisco’s requirement is almost triple the amount the city was expected to create (but failed to do so) over the previous eight years. Of the

82,000-plus units, approximately 32,000 must be affordable to low- or very-low-income households. To meet the updated, steep requirement, the city will focus production on small and mid-rise housing across the city, but particularly near transit corridors and the west side of the city.

“I’m thankful for all the work that went into this by City staff, our partnership with the State in working to get this finalized, and the Board of Supervisors for approving it. We need to bring that same focus and shared vision to the work ahead of passing reforms to our housing approval and permitting process, rezoning our city, and securing affordable housing funding. This is a major step for changing how we approve housing in San Francisco, but it’s only the first step,” said Mayor London Breed.

The 2022 Housing Element is San Francisco’s first housing plan centered on racial and social equity. It articulates the City’s commitment to recognizing housing as a right, increasing housing affordability for low-income households and communities of color, creating more small and mid-rise multifamily buildings across all neighborhoods, and connecting

housing to neighborhood services like transportation, education, and economic opportunity.

For more information, visit sfhousingelement.org.

Western Addition Safe Streets Project

Mayor London Breed and the San Francisco Municipal Transportation Agency (SFMTA) announced the Western Addition Community Safe Streets Project has been awarded $17.6 million as part of the U.S. Department of Transportation’s (DOT) new Safe Streets and Roads for All (SS4A) Grant Program (transportation.gov/ grants/SS4A).

The funding for this grant program comes from President Biden’s historic Bipartisan Infrastructure Law, and advances U.S. Transportation Secretary Pete Buttigieg’s nationwide effort to improve roads and address traffic fatalities.

San Francisco’s application was supported by Speaker Emerita Nancy Pelosi, Senator Dianne Feinstein, and Senator Alex Padilla. The overall budget to improve safety for the community—which includess design, construction, and education/outreach campaign activities—is estimated to be $22 million.

“This federal support will help us to make our streets safer for the residents and workers in the Western Addition community,” said Mayor London

36 MARCH 2023 | SF APARTMENT MAGAZINE
COLUMN
THE BRIDGE BRIEF
Through the Housing Element; a federal grant; and permanent supportive housing, the City has plans to improve quality of life.

Koster & Leadbetter LLP The Flood Building 870 Market Street • Suite 450 • San Francisco, CA 94102 www.kosterleadbetter.com

PRACTICAL REAL ESTATE ADVICE YOU CAN COUNT ON

• Residential (rental property owners)

• Commercial

• Land Use

• Contract Formation

• Dispute Resolution

Denise A. Leadbetter Attorney at Law denise@kosterleadbetterlaw.com 415-713.8680

Thomas Koster Attorney at Law thomas@kosterleadbetterlaw.com 415-680-0023

OpenScope Studio 1776 18th Street San Francisco, CA 94107 openscopestudio.com info openscopestudio.com (415) 891-0954

• Multi-family specialists

• Value add remodels

• Accessory Dwelling Units

• Physical needs assessments

• Pre-purchase consultations

• Feasibility and capacity studies

• Interior / Exterior renovations

• Urban infill

• Mixed-use

• Review Services

SF APARTMENT MAGAZINE | MARCH 2023 37

Breed. “Projects like this are essential to creating safer road conditions in neighborhoods throughout our City, and helping us make our communities safer for all. I want to thank Secretary Buttigieg and the U.S. Department of Transportation for their critical support for this project.”

The Western Addition Community Safe Streets project (WACSS) includes traffic signal upgrades and speed management improvements in support of the City’s Vision Zero goals. These safety improvements were identified in the Western Addition Community Based Transportation Plan (WACBTP).

“SFMTA’s community-based plans start with community—working with neighbors to understand their priorities and collaborating to turn those priorities into actions. We’re grateful to the people of the Western Addition for their work, and to the federal DOT for helping us implement the plan’s commitments,” said Jeffrey Tumlin, SFMTA Director of Transportation.

Key elements of the WACSS project are as follows:

• Signal visibility enhancements to improve safety through larger 12” signal heads and mast arms

• Pedestrian signal improvements such as pedestrian countdown signals (PCS), accessible pedestrian signals (APS), pedestrian-activated flashing beacons, upgraded streetlighting, and upgraded curb ramps

• Speed management strategies such as lower speed limits through 20 mph signage, radar speed signs, quick build improvements based on WACBTP, and additional community engagement

• Multilingual education and outreach campaign on traffic safety and speed management

“We join City partners in thanking the U.S. Department of Transportation for

its award of $17 million to implement the Western Addition community-based plan,” said District 8 Supervisor Rafael Mandelman, Chair of the San Francisco County Transportation Authority. “The Transportation Authority also appreciates the US DOT’s award for our San Francisco Vision Zero Freeway Ramps Study. Both efforts will help save lives and create healthier and more equitable communities in our city.”

The Western Addition Traffic Signal Upgrades Phase 1 project is estimated to begin construction in Spring 2023. Near-term improvements identified in the WACBTP have been implemented. These include daylighting, continental crosswalks, bulb-outs, pedestrian-actuated rectangular rapid flashing beacons, and advanced limit lines.

The Western Addition Traffic Signal Upgrades Phase 2 project, estimated to begin construction in Spring 2025, has started design using local funds and is proposed to complete design and implement improvements at 16 intersections as part of the WACSS project.

1064 Mission Street

A new Permanent Supportive Housing (PSH) building opened at 1064 Mission Street earlier this year to serve adults exiting homelessness. The building is made up of 256 studio apartments, making it San Francisco’s largest PSH site. Of the 256 units for formerly homeless adults, 103 units will be reserved for individuals over the age of 55.

This project is the result of a collaboration between the Mayor’s Office of Housing and Community Development (MOHCD), the San Francisco Department of Public Health (SFDPH), the Department of Homelessness and Supportive Housing (HSH), Mercy Housing California, and Episcopal Community Services (ECS). The building was funded with City and State funds.

The supportive housing at 1064 Mission Street will include on-site services, programs, and amenities, including:

• on-site nursing and primary care, provided by the St. Anthony Foundation

• in-home supportive services for individuals with disabilities, operated by Homebridge

• a 6,000-square-foot commercial kitchen run by ECS’s social enterprise program, Conquering Homelessness through Employment in Food Services (CHEFS)

• community open space, open to the public five days per week

The above information was sourced from the Mayor’s Press Office.

38 MARCH 2023 | SF APARTMENT MAGAZINE
Real Estate Advisor 415.580.9095 mikestack@vanguardsf.com MikeStackSF.com DRE#01932280 Call or email me today for a free & private analysis of your property’s value. Know Your Numbers! Turn to page 55 for updated information on allowable rent increases, security deposit interest and more.
Mike Stack
SF APARTMENT MAGAZINE | MARCH 2023 39

neighborhood is still recovering. Yearend pricing levels for Downtown properties are well below average, and they are a factor in the reported data. Downtown’s housing stock consists of larger buildings; it is rare to see a 5-9-unit building in this section of San Francisco. Subsequently, the lower value indicators of Downtown sales are not affecting data points in the 5-9-unit sector.

Ways to Connect.

Email

to have your questions and concerns promptly addressed, or call the office at 415-255-2288. You can also follow the happenings of your fellow SFAA members and find out the latest in the industry by connecting with SFAA on Facebook. Search “San Francisco Apartment Association” and “Like” it to add it to your news feed.

Follow SFAA on Twitter at twitter.com/SFAptAssoc

• New sfaa.org website launched!

• Email SFAA at MemberQuestions@sfaa.org

• Follow SFAA on Twitter at twitter.com/SFAptAssoc

Over the past decade, many Downtown buildings were purchased by institutional investors who are now facing many challenges in current market conditions. The Downtown sector has vacancy rates above the norm, with rents still below pre-pandemic levels. These factors coupled with rising interest rates and maturing loans are stressing various portfolios, and loan defaults are in the news. Various reports are estimating close to $1 billion in current loan defaults in the multi-family sector of San Francisco. There are many different possible scenarios in regard to how this situation will unfold, and only time will tell how this all plays out.

I am writing this article in mid-January of 2023. I am expecting somewhat-quiet transaction levels in the first quarter, which is typical in our marketplace. Many investors are preoccupied with tax season before they get rolling into the market.

Sale inventory was low in the fourth quarter of 2022, and it remained low in the start of 2023. There is an air of caution in the market as interest rates doubled over the last six months, layoffs have spiked, and a recession is upon us, or nearing, depending on which definition of recession you want to reference.

There’s another Fed meeting at the end of February, and experts are expecting another quarter-point rise, which at this point seems like good news when compared to recent three-quarter point hikes. Industry-wide, the hope is that we’re nearing the end of rate hikes,

40 MARCH 2023 | SF APARTMENT MAGAZINE
Re-Bound to Happen… continued from page 32
SFAA
MemberQuestions@sfaa.org
at
SF APARTMENT MAGAZINE | MARCH 2023 41 Logo included on event email blasts Logo included on postcard mailing to property owners throughout SF Acknowledged in SF Apartment Magazine Link on our website Premium table Signage at event Rental Housing Expo: Classes, Community & Happy Hour May 18, 2023 11 am - 4 pm F o r t M a s o n C e n t e r - G a l l e r y 3 0 8 Landlord Expo S a n F r a n c i s c o A p a r t m e n t A s s o c i a t i o n M u l t i - H o u s i n g E x t r a v a g a n z a C o - H o s t o u r 1 s t A n n u a l E v e n t B E A S P O N S O R - $ 1 5 0 0 Sign up TODAY ~ Only 15 spots available! Email Stephanie@sfaa.org or scan QR Code

2023 Winter CCRM Webinar Series Schedule &

Upon registration the Zoom link will be emailed to the student Class is every Tuesday

To Register Online: www.sfaa.org Call: 415-255-2288 x.110 Email: maria@sfaa.org

Information: o Credit Card o Mailing Check o Series Invoicing (members only benefit)

Credit card number: Exp. Date Signature: Name printed:

Cancellation Policy: Cancellations must be made 72 hours in advance for a refund SFAA does not provide refunds for No-Shows. Non-members must pay by credit card only!!!

*Students requesting CalBRE Continuing Education Credits must show picture ID, immediately before admittance to the live offering.

CCRM Certification Renewal Policy: In order to keep the certification active, CCRMs must complete twelve hours of continuing education credits & submit a renewal application along with a renewal fee every other year (2 hours of these credits must be in Fair Housing)

MARCH 2023 | SF APARTMENT MAGAZINE
Attendee
o Member o Non Member Title:
Address
Zip: Phone:
E-Mail:
Payment
Attendee Information:
Name:
Company Name:
City:
Fax:
Local Association ID Number:
Registration PRICE Course # Course Name Date Time Member NonMember # of Attendees Total Series Full CCRM Series (Value Savings) See schedule below PMR100 Introduction to Ethical Property Management 2/7/2023 6PM-9PM $85.00 $100.00 PMR101 Renting the Property 2/14/2023 6PM-9PM $85.00 $100.00 PMR102 Beginning and Maintaining the Tenancy 2/21/2023 6PM-9PM $85.00 $100.00 PMR103 Renewal of Tenancy and Ending the Tenancy 2/28/2023 6PM-9PM $85.00 $100.00 PMR104 Maintenance Management: Maintaining the Property 3/7/2023 6PM-9PM $85.00 $100.00 PMR105 Liability & Risk Management 3/14/2023 6PM-9PM $85.00 $100.00 PMR106 Budget Development and Implementation 3/21/2023 6PM-9PM $85.00 $100.00 PMR107 Fair Housing: It’s the Law 3/28/2023 6PM-9PM $85.00 $100.00 PMR108 Professional Skills for Supervisors 4/4/2023 6PM-9PM $85.00 $100.00 EXAM CCRM Final Exam 4/11/2023 6PM-9PM FREE FREE Total Due: Class Location Zoom Webinar System
(includes 9th Edition
Rental
Managing
Housing textbook, CCRM binder and Welcome Packet; does not include the $75 CCRM application fee)
caanet.org events@caanet.org 800.967.4222 • 980 Ninth Street, Suite 1430 • Sacramento, CA 95814

2023 Spring CCRM Webinar Series Schedule &

Upon registration the Zoom link will be emailed to the student Class is every Thursday

Attendee Information:

To Register

Online: www.sfaa.org

Call: 415-255-2288 x.113 Email: stephanie@sfaa.org

(includes 9th Edition Managing Rental Housing textbook, CCRM binder and Welcome Packet; does not include the $75 CCRM application fee)

Company Name:

City:

Phone: Fax:

Local Association ID Number: Payment Information: o Credit Card o Mailing Check o Series Invoicing (members only benefit)

Credit card number: Exp. Date

Signature: Name printed:

Cancellation Policy: Cancellations must be made 72 hours in advance for a refund SFAA does not provide refunds for No-Shows. Non-members must pay by credit card only!!!

*Students requesting CalBRE Continuing Education Credits must show picture ID, immediately before admittance to the live offe ring.

CCRM Certification Renewal Policy: In order to keep the certification active, CCRMs must complete twelve hours of continuing education credits & submit a renewal application along with a renewal fee every other year (2 hours of these credits must be in Fair Ho using)

SF APARTMENT MAGAZINE | MARCH 2023 43
Attendee
o Member o Non Member Title:
Name:
Address
Zip:
E-Mail:
Registration PRICE Course # Course Name Date Time Member NonMember # of Attendees Total Series Full CCRM Series (Value Savings) See schedule below PMR100 Introduction to Ethical Property Management 4/6/2023 12PM-3PM $85.00 $100.00 PMR101 Renting the Property 4/13/2023 12PM-3PM $85.00 $100.00 PMR102 Beginning and Maintaining the Tenancy 4/20/2023 12PM-3PM $85.00 $100.00 PMR103 Renewal of Tenancy and Ending the Tenancy 4/27/2023 12PM-3PM $85.00 $100.00 PMR104 Maintenance Management: Maintaining the Property 5/4/2023 12PM-3PM $85.00 $100.00 PMR105 Liability & Risk Management 5/11/2023 12PM-3PM $85.00 $100.00 PMR106 Budget Development and Implementation 5/18/2023 12PM-3PM $85.00 $100.00 PMR107 Fair Housing: It’s the Law 5/25/2023 12PM-3PM $85.00 $100.00 PMR108 Professional Skills for Supervisors 6/1/2023 12PM-3PM $85.00 $100.00 EXAM CCRM Final Exam 6/8/2023 12PM-3PM FREE FREE Total
: Class Location
System
Due
Zoom Webinar
caanet.org events@caanet.org 800.967.4222 • 980 Ninth Street, Suite 1430 • Sacramento, CA 95814

BECOME AN AMBASSADOR FOR SAN FRANCISCO

WELCOME AMBASSADORS PROGRAM

The San Francisco Welcome Ambassadors Program is a two-year City-funded program to help welcome meeting and convention attendees, commuters, and visitors back to San Francisco. In addition to offering a friendly greeting, they’re here to answer questions and report any incidents of negative street behavior or conditions.

Welcome Ambassadors help with directions, restaurant recommendations, public transportation, and translation requests. If you see an ambassador in an orange uniform, stop and say hello! The team can also be seen assisting with local events, helping cruise ship passengers in transit, and guiding convention visitors around town.

The program was officially launched in November 2021 and operates seven days per week. Hours vary based on location and day of the week, generally between 8:00 a.m. to 8:00 p.m.

COMMUNITY AMBASSADORS PROGRAM

The Community Ambassadors Program (CAP) is a community safety and neighborhood engagement program in San Francisco. Community Ambassadors engage, inform, and assist the San Francisco community. CAP also provides a visible, non-law enforcement safety presence in several neighborhoods. This focus on community safety helps build trust, calm tensions, and prevent violence.

Community Ambassadors provide safety escorts, report emergencies, report hazards, conduct wellness checks, provide social services referrals, and conduct outreach.

Applications to be a Community Ambassador are accepted on a rolling basis at sf.gov/ambassadorapply.

and that

soon see rates stabilizing and decreasing.

Rental agents are reporting a vibrant rental market for the general marketplace, except for the Downtown corridor and SOMA. The recent layoffs do not seem to be impacting rents as people continue to return to the city.

If you may be looking for additional details and or like to share any comments, please reach out to me at your convenience: Jay Greenberg, jayhgreenberg@apr.com.

44 MARCH 2023 | SF APARTMENT MAGAZINE
433 California St., Suite 1000 San Francisco, CA 94104 (415) 291-8600 ■ info@yoursrvc com www slpconsults com Shwiff, Levy & Polo, LLP
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Magazine

Check Out What’s New at SFAA!

The San Francisco Apartment Association is your rental housing resource. SFAA has been working round-the-clock educating, advocating for, and supporting the rental housing community so that its members operate ethically and fairly.

1. SFAA’s New and Improved Website Is Live!

Our new website makes it easier than ever to access the information, market surveys, education, and forms you need to manage your rental properties. The streamlined website allows SFAA members to quickly sign up for classes, access preferred vendors, and get legislative updates. Go to sfaa.org today!

2. SF Apartment Magazine is Now Available Digitally!

The official publication of SFAA, SF Apartment Magazine reaches approximately 6,000 readers in print each month. Now that the publication is accessible digitally, members can access the invaluable content from anywhere—and advertisers have an even broader reach. Go to sfaa.org/magazine today!

Interested in advertising?

Your ad will appear in the feature-length magazine, alongside articles written by San Francisco’s top landlord attorneys, industry professionals, and small rental property owners. With a readership of rental property owners and industry professionals, your ad will reach the right targeted audience to grow your business.

SF APARTMENT MAGAZINE | MARCH 2023 45 Contact Vanessa Khaleel at vanessa@sfaa.org or Pam McElroy at pam@sfaa.org to learn more about advertising opportunities and special discounts. San Francisco Apartment Association I 265 Ivy Street I San Francisco, CA I 415.255.2288 I www.sfaa.org

sfaa

sfaa2023calendar

March

THURSDAY, MARCH 2

Holding Deposits Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

WEDNESDAY, MARCH 15

In-Person Fair Housing Class

Fort MasonCenter

General’s Residence

1 Fort Mason Center

1:00 p.m. to 3:00 p.m.

Members $85 Non Members $100

TUESDAY, MARCH 21

Liability Protection

Before & After Webinar

Zoom Webinar System

1:00 p.m. to 2:30 p.m.

Members $45 Non Members $65

MONDAY, MARCH 6

Board of Directors Mtg.

11:30 a.m.

THURSDAY, MARCH 9

Offers, Concessions, ADA & Section 8 Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

TUESDAY, MARCH 14

Nuisance Issues Webinar

Zoom Webinar System

1:00 p.m. to 2:00 p.m.

Members $45 Non Members $65

WEDNESDAY, MARCH 15

In-Person Member Meeting

Fort MasonCenter

General’s Residence

1 Fort Mason Center 5:00 p.m. to 7:00 pm

THURSDAY, MARCH 23

Notice of Acceptance, Conditional and Denial Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

THURSDAY, MARCH 16

Application Verification/ Credit Screening Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

THURSDAY, MARCH 30

Lease Review Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

April

MONDAY, APRIL 3

Board of Directors Mtg. 11:30 a.m.

THURSDAY, APRIL 6

Addenda Process Webinar Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

WEDNESDAY, APRIL 12

Getting the Most Out of Your Technology Intellirent Webinar Zoom Webinar System

2:00 p.m. to 3:00 p.m.

FREE for SFAA Members

THURSDAY, MARCH 16

Application Verification & Credit Screening

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

FRIDAY, MARCH 30

Costa Hawkins Webinar

Zoom Webinar System

2:00 p.m. to 3:00 p.m.

Members $45 Non Members $65

WEDNESDAY, APRIL 19

Virtual Member Meeting

Live Legal Panel

WEDNESDAY, APRIL 19

Rodents-Keeping Those

Unwanted Guests Out Webinar

Zoom Webinar System

1:00 p.m. to 2:00 p.m.

Members $45 Non Members $65

THURSDAY, APRIL 20

Hoarding Webinar Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

THURSDAY, APRIL 13

Executing Lease & Move-in Checklist Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

WEDNESDAY, APRIL 26

Asset Protection Open Forum Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

THURSDAY, APRIL 27

Noise Complaints Webinar

Zoom Webinar System

10:00 a.m. to 11:00 a.m.

Members $45 Non Members $65

46 MARCH 2023 | SF APARTMENT MAGAZINE
SFAA office will be closed March 31st in observance of Cesar Chavez Day.
MARK YOUR CALENDARS FOR THE FIRST IN-PERSON MEETING: MARCH 15, 2023.
2023 join online at sfaa.org or call 415.255.2288

SAN FRANCISCO’S RENT BOARD FEE $29.50

Chapter 37A of San Francisco’s Administrative Code allows the city to collect a per-unit fee for each residential dwelling unit that is subject to the San Francisco Rent Ordinance. This fee defrays the entire cost of operation of the Rent Board. This fee is billed to the landlord each year on the property tax statement sent in November, but the law permits landlords to collect a portion of the Rent Board fee from those tenants in occupancy as of November 1 of each year. A landlord is allowed to collect 50% of the cost of the fee from the tenant. If you have not collected Rent Board fees in the past, you can collect back to 1999.

ALLOWABLE

SFAA’S TENANT SCREENING SERVICE

THROUGH INTELLIRENT

STEP 1:

Create a free account at sfaa. myintellirent.com/agent-signup.

STEP 2:

Invite an applicant to apply via an online application customized to SFAA’s criteria. You can also publish your available rental on Intellirent across mulitple ILSs.

RATES

Intellirent is your free, online rental application and property marketing tool, partnered with Transunion to instantly return complete credit reports and nationwide eviction notices. Renters pay the $40 application fee, which covers your costs. For more information, simply create your free account or go to sfaa.org and choose the “Resources” tab. Then select “Tenant Screening.”

Please note that the maximum you can charge a tenant for screening services is $49.12.

CONTACT INTELLIRENT FOR

MORE INFORMATION:

415-849-4400

CAPITAL IMPROVEMENTS

The capital improvement interest rates for 3/1/23 through 2/29/24 are listed below:

INTEREST ON DEPOSITS

Deposits include all tenant monies that the owner holds, regardless of what they are called. At the landlord’s option, the payment may be made directly to the tenant or by allowing the tenant to deduct the amount of interest due from the rental payment.

ALLOWABLE RENT INCREASES

2023 - 2024: 3.6%

Effective March 1, 2022, through February 28, 2023, the allowable annual rent increase is 2.3 %. This amount is based on 60% of the increase in the Consumer Price Index for all urban consumers in the Bay Area. A history of all allowable increases and their effective periods is provided.

2006-2007 $11.00

2005-2006 $10.00

2004-2005 $11.00

CONTACT THE SAN FRANCISCO RENT BOARD FOR MORE INFORMATION

415-252-4600 sfgov.org/rentboard

SF APARTMENT MAGAZINE | MARCH 2023 47 2023 join online at sfaa.org or call 415.255.2288 & information
RENT
BOARD FEE COLLECTABLE FROM TENANTS
2017-2018
2016-2017
2014-2015
2013-2014
$14.50
2022-2023 $29.50 2021-2022 $29.50 2020-2021 $25.00 2019-2020 $25.00 2018-2019 $22.50
$22.50
$20.00 2015-2016 $18.50
$18.00
$14.50 2012-2013
2011-2012 $14.50 2010-2011 $14.50 2009-2010 $14.50 2008-2009 $14.50 2007-2008 $13.00
AMORTIZATION INT. RATE MULTIPLIER 7 YEARS 2.8% .01312 10 YEARS 2.8% .00956 15 YEARS 3.0% .00691 20 YEARS 3.1% .00560
INTEREST ON DEPOSITS PERIOD AMOUNT 03/01/23 - 02/29/24 2.3% 03/01/22 - 02/28/23 0.1% 03/01/21 - 02/28/22 0.6% 03/01/20 - 02/28/21 2.2% 03/01/19 - 02/29/20 2.2% 03/01/18 - 02/28/19 1.2% 03/01/17 - 02/28/18 0.6% 03/01/16 - 02/28/17 0.2% 03/01/15 - 02/29/16 0.1% 03/01/14 - 02/28/15 0.3% 03/01/13 - 02/28/14 0.4% 03/01/12 - 02/28/13 0.4% 03/01/11 - 02/29/12 0.4% 03/01/10 - 02/28/11 0.9% 03/01/09 - 02/28/10 3.1% 03/01/08 - 02/28/09 5.2% 03/01/07 - 02/29/08 5.2%
ALLOWABLE RENT INCREASES PERIOD AMOUNT 03/01/23 - 02/29/24 3.6% 03/01/22 - 02/28/23 2.3% 03/01/21 - 02/28/22 .7% 03/01/20 - 02/28/21 1.8% 03/01/19 - 02/29/20 2.6% 03/01/18 - 02/28/19 1.6% 03/01/17 - 02/28/18 2.2% 03/01/16 - 02/29/17 1.6% 03/01/15 - 02/29/16 1.9% 03/01/14 - 02/28/15 1.0% 03/01/13 - 02/28/14 1.9% 03/01/12 - 02/28/13 1.9% 03/01/11 - 02/29/12 0.5% 03/01/10 - 02/28/11 0.1% 03/01/09 - 02/28/10 2.2% 03/01/08 - 02/28/09 2.0% 03/01/07 - 02/29/08 1.5% 03/01/06 - 02/28/07 1.7% SAN FRANCISCO RENT BOARD 25 Van Ness Avenue #320 San Francisco, CA 94102 415-252-4600
www.sfgov.org/rentboard

SFAA Professional Services Directory

1031 TAX DEFERRED EXCHANGE

SERVICES

LAWYERS EQUITY EXCHANGE

Brian Fogarty 415-701-1234 www.lex1031.com

SEQUENT

Eric Scaff 415-834-1031 sequent-rewm.com escaff@sequent-rewm.com

ACCOUNTANTS

SHWIFF, LEVY & POLO LLP

Elizabeth Shwiff 415-291-8600 x232 www.slpconsults.com

ALARM COMPANY

AEC ALARMS

Yat-Cheong Au 408-298-8888 Ext: 188 sales@aec-alarms.com

ARCHITECTURE

OPENSCOPE STUDIO ARCHITECTS

Mark Hogan 415-891-0954 yatcheong@aec-alarms.com

Q ARCHITECTURE

Dawn Ma 415-695-2700 www.que-arch.com

ASSOCIATIONS

PROFESSIONAL PROPERTY MANAGEMENT ASSOCIATION

Renee A. Engelen www.ppmaofsf.org renee@hrhrealestate.com

ATTORNEYS

BARTH CALDERON, LLP

Paul Hitchcock 415-577-4685 Paul@barthattorneys.com

BORNSTEIN LAW

Daniel Bornstein, Esq. 415-409-7611 www.bornstein.law

CHONG LAW

Dolores Chong 415-437-7807 chongdolores@earthlink.net

DOWLING & MARQUEZ, LLP

Jak S. Marquez 415-977-0444 x232 www.dowlingmarquez.com

FRANK KIM ESQ., EVICTION ASSISTANCE

Jo Biel 415-752-6070

KIMBALL, TIREY & ST. JOHN LLP

Kelli Dodson 800-525-1690 kelli.dodson@kts-law.com www.kts-law.com

FRIED, WILLIAMS & GRICE CONNOR

Clifford E. Fried 415-421-0100 www.friedwilliams.com

HERZIG & BERLESE

Barbara Herzig 415-861-8800 bherzig@hbcondolaw.com

ILENE M. HOCHSTEIN, ATTORNEY AT LAW

Ilene Hochstein 650-877-8288 ilene@hochsteinlaw.net

KAUFMAN, DOLOWICH, VOLUCK

Ashley Klein 415-926-7612 aklein@kdvlaw.com

LAW OFFICES OF DENISE A. LEADBETTER

Denise Leadbetter 415-713-8680 www.leadbetterlaw.com

LAW OFFICE OF MICHAEL HEATH

Michael Heath 415-931-4207 Mheath_law@sbcglobal.net

LAW OFFICE OF EDWARD KAIGH, PC

Edward Kaigh 917-406-6063 edward@kaighlaw.com

LAW OFFICES OF SCOTT T. OKAMOTO

Scott T. Okamoto 415-766-5871 www.scottokamotolaw.com

LAW OFFICE OF JULIANA E. PISANI

Juliana Pisani 415-800-7562 Juliana@jpisanilaw.com

LAW OFFICES OF LAWRENCE M. SCANCARELLI

Lawrence M. Scancarelli 415-398-1644 www.sfrealestatelaw.com

THE LAW OFFICE OF ED SINGER

Edward Singer 650-393-5862 www.edsinger.net

LORBER, GREENFIELD & POLITO, LLP

Wakako Uritani 415-986-0688 wuritani@lorberlaw.com

MASTROMONACO REAL PROPERTY

LAW GROUP

Leonard Mastromonaco 415-354-2702 len@mastrolawgroup.com

MCLAUGHLIN SANCHEZ, LLP

Michael McLaughlin 415-655-9753 www.msllp.law

NIVEN & SMITH

Leo M. LaRocca 415-981-5451

leo@nivensmith.com

REUBEN, JUNIUS & ROSE, LLP

Kevin Rose 415-567-9000

www.reubenlaw.com

SHEPPARD-UZIEL LAW FIRM

Jaime Uziel 415-296-0900

ju@sheppardlaw.com

STEVEN ADAIR MACDONALD & ASSOCIATES, PC

Steven Adair MacDonald 415-956-6488

www.samlaw.net

sam@samlaw.net

WASSERMAN

Dave Wasserman 415-567-9600

Dave@wassermanoffices.com

www.davewassermansf.com

WIEGEL LAW GROUP

Andrew J. Wiegel 415-552-8230

www.wiegellawgroup.com

ZACKS, FREEDMAN & PATTERSON, P.C.

Andrew M. Zacks 415-956-8100

www.zfplaw.com

ZANGHI TORRES ARSHAWSKY, LLP

John P. Zanghi 415-977-0444

www.zatlaw.com

BEDBUG DETECTION

CROWN & SHIELD PEST

SOLUTIONS-PREMIER

Aurora Garcia-Vidaca 415-893-9551

www.crownandshieldpestsolutions.com

PREMIER CANINE DETECTION

Jordan Garcia 415-612-6645

www.premiercaninedectection.com

COMMERCIAL/RETAIL LEASING SERVICES

BLATTEIS REALTY CO.

David Blatteis 415-981-2844

www.sfretail.net

CONSULTANTS: PERMITS & PLANNING

EDRINGTON AND ASSOCIATES

Steven Edrington 510-749-4880

steve@edringtonandassociates.com

CONTRACTORS

DECK & BALCONY INSPECTIONS, INC.

Dan Cronk 916-548-6943

dan@deckandbalconyinspections.com

CORPORATE RENTALS

AMSI

Robb Fleischer 415-447-2020

www.amsires.com

CREDIT REPORTING

INTELLIRENT

Cassandra Joachim 415-849-4400

www.myintellirent.com

48 MARCH 2023 | SF APARTMENT MAGAZINE

DRAIN SERVICES

PRIBUSS ENGINEERING, INC.

Selina Pribuss 650-588-0447 selina.p@pribuss.com www.pribuss.com

EMERGENCY SERVICES

THE GREENSPAN CO./ ADJUSTERS INTERNATIONAL

Rebecca Holloway 707-540-5584 rebecca@greenspan-ai.com

ENERGY SERVICES

ARMADA POWER

VALET LIVING

Briana Sellers 813-613-5073 briana.sellers@valetliving.com www.valetliving.com

INSURANCE COMPANIES

ARM MULTI INSURANCE SERVICES

Lisa Isom 866-913-6293 www.arm-i.com

BARBARY INSURANCE BROKERAGE

Gerald Becerra 415-788-4700 www.barbaryinsurance.com

COMMERCIAL COVERAGE INSURANCE AGENCY

PACKAGE SERVICE

FETCH

Dan Beary 978-503-9540

dbeary@fetchpackage.com

PAINTING CONTRACTORS

KRUITPAINTING, INC.

Pieter Kruit 415-254-7818

www.kruitpainting.com

PAC WEST PAINTING INC.

Brian Beaulieu 415-457-0724

www.pacwestpaintinginc.com

PETERS PAINTING SERVICES

Peter Pantazelos 415-647-4722

David Myers

614-918-7493 dmyers@armadapower.com

ENVIRONMENTAL CONSULTING

P.W. STEPHENS ENVIRONMENTAL

Sheri Buenz 510-651-9506 sherib@pwsei.com

FIRE ESCAPE INSPECTION & MAINTENANCE

ESCAPE ARTISTS

Ben Maxon 415-279-6113 www.sfescapeartists.com

GREAT ESCAPE SERVICES

Terry Walsh 415-566-1479 www.greatescapeservice.com

FIRE PROTECTION CONTRACTORS

AEC ALARMS

628-208-0188 SFfire@aec-alarms.com

BATTALION ONE FIRE PROTECTION

Tim Morse 510-653-8075 www.battaliononefire.com

COMMERCIAL FIRE PROTECTION, INC.

Laine Sims 925-300-9534 www.fireprotected.com

EMERGENCY SYSTEMS, INC.

Eric Hagerman 415-564-0400 esmfire@earthlink.net

PRIBUSS ENGINEERING, INC.

Selina Pribuss 650-588-0447 selina.p@pribuss.com www.pribuss.com

FLOORING

DECK & BALCONY INSPECTIONS, INC

Dan Cronk 916-548-6943 dan@deckandbalconyinspections.com

GARBAGE COLLECTION SERVICES

RECOLOGY GOLDEN GATE RECYCLING

Minna Tao 415-575-2423 recologysf.com

RECOLOGY SUNSET SCAVENGER

Dan Negron 415-330-2911 recologysf.com

Paul Tradelius 415-436-9800 www.comcov.com

GORDON ASSOCIATES INSURANCE

SERVICES

Dave Gordon, CLU 650-654-5555x6972 David.gordon@gordoninsurance.com

INTERNET SERVICES PROVIDERS

COMCAST/XFINITY

Michael Juliano 925-495-9922 www.xfinity.com

LENDING / FINANCIAL SERVICES

FIRST FOUNDATION BANK

Michelle Li 415-794-2176 www.ff-inc.com

LENDING / FULL SERVICE BANKS

LUTHER BURBANK SAVINGS

Gabriel Basso 510-601-2400 www.lutherburbanksavings.com

LENDING / INSTITUTIONS

CHASE COMMERCIAL TERM LENDING

Sharon Groenendyk 415-315-8464 www.chase.com/commercialbanking

LOCKSMITHS

CROWN LOCK & HARDWARE

Joe Schoepp 415-221-9086

MAINTENANCE REPAIR SERVICE

MAVEN MAINTENANCE, INC.

Craig Lipton 415-829-2207 www.mavenmaintenance.com

OGREENA

Christopher Sheilds 510-899-0238

jenniferbenassi@ogreena.com

WEST COAST PROPERTY MANAGEMENT

Joseph Keng 415-885-6970 ext. 101 www.wcpm.com

MEDIATION

THE BAR ASSOCIATION OF SAN FRANCISCO CONFLICT INTERVENTION SERVICE

Scott Goering 415-782-8940 sgoering@sfbar.org

www.peterspainting.com

TARA PRO PAINTING INC.

Brian Layden 415-822-2011

www.tarapropainting.com

PAINTING SUPPLIES

DUNN-EDWARDS PAINTS

Daniela Franco 415-656-9951 daniela.franco@dunnedwards.com

PEST CONTROL

ATCO PEST & TERMITE CONTROL & HOME RESTORATION

Richard Estrada 415-898-2282 www.atcopestcontrol.com

CROWN & SHIELD PEST SOLUTIONS-PREMIER

Aurora Garcia-Vidaca 415-893-9551 www.crownandshieldpestsolutions.com

PLUMBING & HEATING

C.R. REICHEL ENGINEERING CO. INC.

Tim Lordier 415-431-7100 www.crreichel.com

PRIBUSS ENGINEERING, INC.

Selina Pribuss 650-588-0447 selina.p@pribuss.com www.pribuss.com

R & L PLUMBING

Larry Bustillos 415- 651-4977 larry@rl.plumbing www.rlplumbingsanfrancisco.com

URGENT ROOTER AND PLUMBING INC.

Albert Lee 415-387-8163 urgentrtr@sbcglobal.net

PROJECT MANAGEMENT

MELGAR REAL ESTATE SERVICES

Suzy Melgar 650-745-8186 info@mresbayareahomes.com

PROPERTY MANAGEMENT

2B LIVING

Brooks Baskin 650-763-8552 brooks@twobliving.com www.twobliving.com

ABACUS PROPERTY MANAGEMENT

Timothy Cannon 415-841-2105 tim@sanfranrealestate.com www.abacuspropertymanagement.com

SF APARTMENT MAGAZINE | MARCH 2023 49

ADVENT PROPERTIES, INC.

Benjamin Scott, CCRM 510-289-1184

www.adventpropertiesinc.com

ALEXANDERSON PROPERTIES

Eric Alexanderson 415-285-3737 www.alexandersonproperties.com

AMORE REAL ESTATE, INC

Jerry Hsieh 415-567-4800 www.amoresf.com

ANCHOR REALTY

Mark Campana 415-621-2700 mark@anchorealtyinc.com www.anchorealtyinc.com

ARTAL PROPERTIES

John Artal 415-647-4400 artalproperties@gmail.com www.artalproperties.com

BARBAGELATA REAL ESTATE COMPANY

Paul Barbagelata 415-566-1112 paulb@realestatesf.com adminteam@realestate.com

BAY PROPERTY GROUP

Anna Katz 510-836-0110 anna@baypropertygroup.com www.baypropertygroup.com

BAYVIEW PROPERTY MANAGERS

James Blanding 415-822-8793 xt.4 bayview60@comcast.net www.bayviewpropertymanagers.com

BEAM PROPERTIES, INC.

Darius Chan 415-254-8679 darius@sfbeam.com

BLVD RESIDENTIAL

Debbie Brackett 650-328-5050 dbrackett@blvdresidential.com www.blvdresidential.com

BROOKFIELD PROPERTY GROUPPRESIDIO LANDMARK

Jon King 855-327-5376 jon.king@brookfieldproperties.com

CITYWIDE PROPERTY MANAGEMENT

Carol Cosgrove 415-552-7300 www.citywidesf.com

DEWOLF REALTY CO. INC.

William A. Talmage 415-221-2032 www.dewolfsf.com

EBALDC

Felicia Scruggs 510-287-5353 FScruggs@ebaldc.org

Property Management Members

The following members are SFAA Property Management Members. They fully support the organization and are dedicated to SFAA’s goals. For more information about the benefits of becoming a Property Management Member, contact Maria Shea at maria@sfaa.org or 415-255-2288 x 10.

ADVENT PROPERTIES, INC.

Benjamin Scott, CCRM 510-289-1184 www.adventpropertiesinc.com

AMSI

Robb Fleischer 415-447-2020 www.amsires.com

CECCHINI REALTY CO.

Dante Cecchini, CCRM 415-550-8855 www.cecchinirealty.com

CITYWIDE PROPERTY MANAGEMENT

Carol Cosgrove 415-552-7300 www.citywidesf.com

DEWOLF

William Talmage 415-221-2032 www.dewolfsf.com

GAETANI REAL ESTATE

Paul Gaetani 415-668-1202 www.gaetanirealestate.com

GREENTREE PROPERTY MANAGEMENT 415-828-8757 www.greentreepmco.com

HRH REAL ESTATE SERVICES CORPORATION

Renee A. Engelen (415) 810-6020 www.hrhrealestate.com

J. WAVRO PROPERTY MANAGEMENT

James Wavro 415-509-3456 www.jwavro.com

LINGSCH REALTY

Natalie M. Drees 415-648-1516 www.lingschrealty.com

PAUL LANGLEY COMPANY

Misha Langley 415-431-9104 x 301 misha@plco.net

PONTAR REAL ESTATE

Merri Pontar 415-421-2877 www.pontarrealestate.com

PROGRESSIVE PROPERTY GROUP

Dace Dislere & Joe Gillach 415-515-4329

PROPERTY MANAGEMENT SYSTEMS

Michelle L. Horneff-Cohen 415-661-3860 www.propertymanagementsystems.net

REAL MANAGEMENT COMPANY

J.J. Panzer 415-821-3167 www.RMCsf.com

S&L REALTY

Robert Link 415-386-3111 www.slrealty-sf.com

STRUCTURE PROPERTIES

Corey Eckert 415-794-0064 www.structureproperties.com

SUTRO PROPERTY MANAGEMENT, INC.

Salman Shariat 415-341-8774 www.sutroproperties.com

VERTEX PROPERTY GROUP

Craig Berendt 415-608-3050 vertexsf.com

WEST & PRASZKER REALTORS

Michael Klestoff 415-661-5300 www.wprealtors.com

WEST COAST PROPERTY MANAGEMENT

Eric Andresen 415-885-6970 www.wcpm.com

VESTA ASSET MANAGEMENT

Paul Griffiths 415-360-9292 x 1 paul@vesta-assetmanagement.com

GAETANI REAL ESTATE

Paul Gaetani 415-668-1202

www.gaetanirealestate.com

GEORGE GOODWIN REALTY, INC.

Chris Galassi 415-681-1265 www.goodwin-realty.com

GREENTREE PROPERTY MANAGEMENT

Scott Moore 415-828-8757 www.greentreepmco.com

GM GREEN REAL ESTATE INC.

George Green 415-608-6485 ggreen@gmgreen.com www.gmgreen.com

GORDON CLIFFORD PROPERTIES, INC.

Patrick Clifford 415-613-7694 patrick@gcpropertiessf.com

HOGAN & VEST INC.

Simon Wong 415-421-7116 hoganvest.com

HRH REAL ESTATE SERVICES CORPORATION

Renee A. Engelen 415-810-6020 www.hrhrealestate.com

INCOME PROPERTY SPECIALISTS

Clayton Llewellyn 408-446-0848 www.ipsmanagement.cc

JACKSON GROUP

PROPERTY MANGEMENT, INC.

Raymond Scarabosio 415-608-8300 ray@jacksongroup.net

JAMES D. MULLIN REAL ESTATE BROKER

James D. Mullin 415-470-0450 jamesdmullinre@gmail.com

JD MANAGEMENT GROUP, INC.

Jonathan Davis 510-387-7792 jonathan.davis@jdmginc.com

LEGACY PTLA LLC

Brent Mustin 510-352-6310

LINGSCH REALTY

Natalie M. Dress 415-648-1516 www.lingschrealty.com

MERIDIAN MANAGEMENT GROUP

Randall Chapman 415-434-9700 www.mmgprop.com

MLCSPACES, INC.

Naeem Farhokhnia 415-273-9861 naeem@mlcspaces.com

MYND MANAGEMENT, INC.

Stacy Winship 510-306-4440 www.mynd.co

NEW GENERATION INVESTMENTS

Jonathan Ng 415-735-8233 jtng.ngi@gmail.com

OPEN WORLD PROPERTIES

Jonathan Daryl Fleming 510-250-0946 jonathan@openworldproperties.com www.Openworldproperties.Com

PAUL LANGLEY COMPANY

Misha Langley 415-431-9104 x 301 misha@plco.net

PILLAR CAPITAL REAL ESTATE

Jonathan Ng 415-885-9584 jonathan@thepillarcapital.com

PONTAR REAL ESTATE

Merri Pontar 415-421-2877 www.pontarrealestate.com

50 MARCH 2023 | SF APARTMENT MAGAZINE

PRIME METROPOLIS PROPERTIES, INC.

Tom Chan 415-731-0303 tomchan@pmp1988.com

PROGRESSIVE PROPERTY GROUP

Dace Dislere 415-794-9727 www.progressivesf.com

PROPERTY MANAGEMENT SYSTEMS

Michelle L. Horneff-Cohen, Broker, CCRM, MPM®, RMP® 415-661-3860 www.propertymanagementsystems.net

RAMSEY PROPERTIES

Brian E. Ramsey 415-474-5175 Brian@RamseyPropertiesSF.com

REAL MANAGEMENT COMPANY

J.J. Panzer 415-821-3167 www.RMCsf.com

ROCKAWAY RESIDENTIAL MANAGEMENT

Kristine Abbey 650-290-3084 www.rockawayresidential.com

ROCKWELL PROPERTIES

Mark Kaplan 415-398-2400 propertymanagement@rockwellproperties.com

RNB PROPERTY MANAGEMENTGOLDEN GATE

Kaveh Gorgani 415-413-3827 kaveh@rnbemail.com www.rnbgoldengate.com

SHAREVEST PROPERTY MANAGEMENT, LLC

Timothy D. Gilmartin 650-347-2020 tim@thegilmartins.com

SIGNATURE REALTY PROPERTY MANAGEMENT

Paul Montalvo 650-364-3167 paul@paulmontalvo.com

SIERRA PROPERTY PROFESSIONALS

Sonali Herrera sierrappinc@gmail.com

SKYLINE PMG, INC.

Nicholas Bowers 415-968-9903 Nicholas@skylinepmg.com

STRUCTURE PROPERTIES

PROPERTY MANAGEMENT

SOFTWARE

APPFOLIO

Mindy Sorenson 888-700-8299 mindy.sorenson@appfolio,com

HEMLANE, INC.

Dana Dunford 385-355-4361 dana@hemlane.com

PROPERTY ATLAS

Serina Calhoun 415-922-0200 serina@mypropertyatlas.com

YARDI

Kelly Krier 805-699-2040 kelly.krier@yardi.com

REAL ESTATE APPRAISALS

MARK WATTS COMMERCIAL APPRAISAL

Mark Watts 415-990-0025 www.markwattscommercialappraisal.com

REAL ESTATE BROKERS & AGENTS

BERKSHIRE HATHAWAY

FRANCISCAN PROPERTIES

Edward Milestone 415-994-5969 MilestoneRealEstateSF@gmail.com

BIG TREE PROPERTIES

Evan Matteo 415-305-4931 evan@bigtreeproperties.com

CHUCK & ASSOCIATES

Kevin Chuck 415-595-5832 chuckassoc@gmail.com

COLDWELL BANKER COMMERCIAL NRT

Steven Caravelli 415-229-1367 steven.caravelli@cbnorcal.com

COLLIERS INTERNATIONAL- JAMES DEVINCENTI

James Devincenti 415-288-7848 www.THEDLTEAM.com

COLLIERS INTERNATIONAL

FERRIGNO REAL ESTATE

Chris Ferrigno 415-641-0661

www.ferrignorealestate.com

HRH REAL ESTATE SERVICES CORPORATION

Renee A. Engelen 415-810-6020

www.hrhrealestate.com

ICON REAL ESTATE INC.

Jason Quashnofsky 415-370-7077 jason@iconsf.com

KENNEY & EVEREST REAL ESTATE, INC.

Everest Mwamba 415-902-3411 maureen@kenneyrealestate.com

KILBY STENKAMP-VANGUARD PROPERTIES

Kilby Stenkamp 415-370-7582

LESLIE BURNLEY

Leslie Burnley 415-717-8709 leslie.j.burnley@gmail.com leslieburnley.com

MARCUS & MILLICHAP

Sanford Skeie 415-625-2153 www.marcusmillichap.com

MAVEN PROPERTIES

Matthew Sheridan matt@mavenproperties.com

MORGAN REAL ESTATE ADVISORS, INC.

Laurence Morgan 415-300-6503 laurence@morganrealestateadvisor.com www.morganrealestateadvisor.com

S&L REALTY

Robert Link 415-386-3111 www.slrealty-sf.com

STEELE PROPERTIES

Ryan Steele 415-881-7762 ryan@steeleproperties.com www.steeleproperties.com

WEST & PRASZKER REALTORS

Michael Klestoff 415-312-2245 klestoffmre@aol.com

VANGUARD COMMERCIAL

Corey Eckert

415-794-0064 www.structureproperties.com

SUTRO PROPERTY MANAGEMENT, INC.

Salman Shariat 415-341-8774 www.SutroProperties.com

W. PROPERTY MANAGEMENT

Gary Petrison 707-545-6187 gary@wpropertymanagement.com

WEST COAST PROPERTY MANAGEMENT

Eric Andresen 415-885-6970 www.wcpm.com

WEST & PRASZKER REALTORS

Michael Klestoff 415-699-3266 www.wprealtors.com

VERTEX PROPERTIESS

Craig Berendt 415-608-3050 craig.berendt@gmail.com

YMPG

Yelena Gelzer 415-260-6325 yglezer@ympg-management.com

Payam Nejad 415-288-7872 www.colliers.com/payam.nejad

COMPASS

Tim Johnson 415-710-9000 tim.johnson@compass.com www.timjohnsonsf.com

COMPASS COMMERCIAL BROKERAGE

John Antonini 415-794-9510 john@antoninisf.com

COMPASS COMMERCIAL BROKERAGE

Chris J. Connor chris.oconnor@compass.com

COMPASS COMMERCIAL BROKERAGE

Adam Filly 415-516-9843 adam@adamfilly.com

COMPASS COMMERCIAL BROKERAGE

Jay Greenberg 415-378-6755 jay@jayhgreenberg.com

COMPASS COMMERCIAL

Mirella Webb 415-640-4133 mirella.webb@compass.com

CORCORAN GLOBAL LIVING COMMERCIAL

Terrence Jones 415-786-2216 terrence@terrencejonesSF.com www.terrencejones.com

Allison Chapleau 415-516-0648 allison@allisonchapleau.com www.allisonchapleau.com

VANGUARD PROPERTIES

Dimitris Drolapas 415-531-9659 dd@vanguardsf.com

REAL ESTATE INVESTMENTS

CITY REAL ESTATE

Arthur Tom 415-987-6788 art@cityrealestatesf.com cityrealestatesf.com

COMPASS COMMERCIAL BROKERAGE

Trigg Splenda 415-593-8616

KENNEY & EVEREST REAL ESTATE, INC.

Everest Mwamba 415-902-3411 maureen@kenneyrealestate.com

MARCUS MILLICHAP

Clinton C. Textor III 415-425-9123 www.marcusmillichap.com

REFINISHING / RESURFACING SERVICE

MIRACLE METHOD OF SAN FRANCISCO NORTH

Jamie Munoz 415-673-4211

MiracleMethodSFO@gmail.com www.miraclemethod.com/San-Francisco

SF APARTMENT MAGAZINE | MARCH 2023 51

sfaa sfaa 2023 membership application

RENT BOARD PETITIONS

PROPERTY MANAGEMENT SYSTEMS

Michelle L. Horneff-Cohen 415-661-3860 www.propertymanagementsystems.net

RENT RAISERS

Michelle Horneff-Cohen michelle@propertymanagementsystems.net

REAL MANAGEMENT COMPANY

Melinda Greene 415-230-8895 www.RMCsf.com

Thank you for joining the San Francisco Apartment Association. SFAA is dedicated to educating, advocating for and supporting the Rental Housing Community so that its members operate ethically, fairly and profitably. Please consult a tax preparer in advance to determine deductibility for your tax situation. Membership fees are subject to change.

San Francisco Apartment Association

RENT BOARD PASSTHROUGHS

Kim Boyd Bermingham 415-333-8005 www.rentboardpass.com

RENTAL LISTING SERVICES

COSTAR

Aj Herlitz 844-459-1495

www.costargroup.com aherlitz@costar.com

HRH REAL ESTATE SERVICES CORPORATION

Renee A. Engelen 415-810-6020 www.hrhrealestate.com

REALPAGE

Stacey Blackwell 972-820-3015 stacey.blackwell@realpage.com www.realpage.com

ZUMPER, INC.

Connor Hodges 949-702-1508 connor@zumper.com www.zumper.com

RESIDENTIAL LEASING

GORDON CLIFFORD PROPERTIES, INC.

PatrickClifford 415-613-7694 patrick@gcpropertiessf.com

HAMILTON FAMILY CENTER

Mayo Lunt 510-763-8540 x230 www.hamiltonfamiles.org

HRH REAL ESTATE SERVICES CORPORATION

Renee A. Engelen 415-810-6020 www.hrhrealestate.com

J. WAVRO ASSOCIATES

James Wavro 415-509-3456 www.jwavro.com

KENNEY AND EVEREST REAL ESTATE, INC.

Maureen Kenney 415-929-0717 maureen@kenneyrealestate.com

LINGSCH REALTY

Natalie M. Drees 415-648-1516 www.lingschrealty.com

RELISTO

Eric Baird 415-236-6116, x101 www.relisto.com eric@relisto.com

RENTALS IN S.F.

Jackie Tom 415-409-3263 www.rentalsinsf.com

RENTSFNOW

Stephanie Versin sversin@veritasinv.com www.rentsfnow.com

STRUCTURE PROPERTIES

Corey Eckert 415-794-0064 www.structureproperties.com

52 MARCH 2023 | SF APARTMENT MAGAZINE
265 IVY STREET | SAN FRANCISCO, CA | 94102 | PHONE 415-255-2288 | FAX 415-255-1112
MEMBERSHIP LEVEL & COST REGULAR MEMBER DUES Units Base Fee Units Fee 1-22 $480 $8 per unit = 23 + $435 $10 per unit = TOTAL UNIT AMOUNT: TOTAL AMOUNT: MANAGEMENT COMPANY DUES Units Base Fee Unit Fee 1-22 $580 $5 per unit = 23 + $535 $7 per unit = TOTAL UNIT AMOUNT: TOTAL AMOUNT: ASSOCIATE MEMBER DUES: $560 CONTACT INFORMATION Contact Person Company/Title Address City State Zip Mobile Phone Email Address Website PAYMENT METHOD Check Amex MC Visa 3 Digit Security Code Card # Expiration Date Cardholder Name Billing Zip Code Authorized Signature Date HOW DID YOU HEAR ABOUT US? Referral From Postcard/Mailer Magazine Website Rent Board Other

VERTEX PROPERTIES

Craig Berendt 415-608-3050 www.berendtproperties.com

ZUMPER, INC

Connor Hodges 949-702-1508 connor@zumper.com www.zumper.com

ROOFING

AGUILERA CONSTRUCTION & ROOFING

Javier Aguilera 707-495-3932 javier@aguileraco.com

SECURITY

KASTLE SYSTEMS

Michael Madisan 415-828-2157 mike.madisan@kastle.com

SECURITY DEPOSITS

THE GUARANTORS

Alexandra Nazaire 212-266-0020 alexandra.nazaire@theguarantors.com www.theguarantors.com

SEISMIC RETROFIT & STRUCTURAL ENGINEERING

BAI CONSTRUCTION

Behnam Afshar 510-595-1994, x101 www.baiconstruction.com

W. CHARLES PERRY

Charles Perry 650-638-9546 www.wcharlesperry.com

WEST COAST PREMIER CONSTRUCTION, INC. Homy Sikaroudi, PhD, PE 510-271-0950 www.wcpc-inc.com

STAFFING

BG MULTI-FAMILY

Shannon Valentino 714-654-9498 svalentino@bgmultifamily.com

SUBMETERS

LIVABLE

Daniel Sharabi 415-937-7283 www.livable.com

TENANT PLACEMENT & LISTING

CAZERIA, INC

Julia D’Antonio 415-754-5373 julia@cazeira.com

STRUCTURE PROPERTIES

Corey Eckert 415-794-0064 www.structureproperties.com

WATER CONSERVATION

SERVICE

SF PUBLIC UTILITIES COMMISSION

Chandra Johnson 415-554-0704 www.conserve.sfwater.org

WATER DAMAGE SERVICE

FIRE AND WATER DAMAGE RECOVERY

Maria Neumann 800-886-1801 www.waterdamagerecovery.net

WATERPROOFING

KELLEY PAINTING AND WATERPROOFING

Mitchell Kelley 415-847-7883 www.kelleypaintingandwaterproofing.com

ad index NEED A PROFESSIONAL CONTRACTOR OR VENDOR?

SF APARTMENT MAGAZINE | MARCH 2023 53 ACCOUNTANTS Shwiff, Levy & Polo, LLC 45 ALARM COMPANIES AEC Alarms 19 ARCHITECTURE & DESIGN SERVICES Openscope Studio 37 ATTORNEYS Fried, Williams & Grice Conner LLP 39 Koster & Leadbetter, LLP 37 Zacks, Freedman & Patterson, PC 56 CONTRACTORS Pribuss Engineering, Inc. 55 FIRE ESCAPE CONTRACTORS Great Escape Fire Escape 55 LOCKSMITHS Crown Lock & Safe 18 Warman Security 60 PAINTING CONTRACTORS Colores Painting 18 Kruit Painting 60 Pac West Painting 14 Tara Pro Painting 54 PETITION SERVICES Rent Board Passthroughs 14 PROPERTY MANAGEMENT & MAINTENANCE & RESIDENTIAL LEASING Gaetani Real Estate, Inc. 64 Maven Maintenance 25 Real Management Company 56 Rentals in SF 57 Structure Properties 29 Vertex Properties 6 West Coast Property Management 60 PROPERTY MANAGEMENT SOFTWARE Yardi Breeze 15 REAL ESTATE BROKERS Amore Real Estate 54 Coldwell Banker Commercial / Caravelli31 Coldwell Banker Commercial / McGue 13 Colliers / Devincenti 2 Compass / Antonini 63 Compass / Bonn & Webb 17 Compass / Filly 11 Compass / Greenberg & Splenda 3 HRH Real Estate 57 Marcus & Millichap 34-35 Maven Multifamily 33 Vanguard Commercial / Chapleau 9 Vanguard Properties / Stack 38 UTILITIES BILLING SERVICES Livable 39 Acceptance of an advertisement by this magazine does not necessarily constitute any endorsement or recommendation by SFAA, express or implied, of the advertiser or any goods or services offered.

Following this, the Assessment Appeals Board will schedule a date and time for your hearing.

In terms of the rate at which we are seeing appeals filed, the pre-pandemic five-year average (fiscal years 2015-2019) for new appeals filed is 1,738. We saw a marked increase in the number of appeals filed beginning in Fiscal Year 2020-2021, with 2,399 appeals filed. So far, for Fiscal Year 2022-2023, there have been over 2,550 appeals filed.

To effectively respond to the increase in appeals and fulfill our public duty efficiently and equitably, our office is prepared to shift significant resources toward this matter.

Additionally, to help manage this workload, we are proactively working with the Assessment Appeals Board to pilot new approaches to process appeals more effectively while maintaining all necessary independence between our two organizations. This will not only help us get through this peak in cases, but it will also help ensure that future peaks have less of an impact.

Property Tax Relief: Severe Weather

These recent storms are unlike anything our city has seen in decades and have caused significant hardship for many property owners. Given the impacts of this severe weather, San Franciscans should be aware they may qualify for property tax relief. The benefits of this relief will depend on the extent of the damage to your property and its effect on your current assessed valuation. Your current property taxes may be reduced for that portion of the property that has been damaged. The relief will go toward the first of the month in which the damage occurred through the time until the property is repaired.

Our staff can help you through the process from start to end. To qualify, damage to the property must be $10,000 or more, and a disaster relief form must be

54 MARCH 2023 | SF APARTMENT MAGAZINE
Tax of All Trades… continued from page 24

HOW TO REQUEST AN ASSESSMENT REVIEW

Online submissions are preferable (sfassessor.org > Forms & Notices), but alternately you may send your request to San Francisco AssessorRecorder’s Office, Attn: Informal Review, 1 Dr. Carlton B. Goodlett Place, City Hall, Room 190, San Francisco, CA 94102. You can also fax 415-554-7915 or email InformalReviewRP@sfgov.org. Be sure to keep a copy for your records.

HOW TO REQUEST SEVERE-WEATHER

TAX RELIEF

Submit an online form (sfassessor. org > Tax Savings > Disaster Relief)

If you need assistance, call the Office of the Assessor-Recorder at 415-554-5596.

filed with the Assessor-Recorder within one year from the date of loss. For more information and how to apply, visit sfassessor.org. (For detailed instructions on how to apply for relief, turn to the sidebar on page 55).

Lastly, please do not hesitate to contact my office if you have any questions or concerns you would like to discuss. I look forward to serving you.

Written by Joaquín Torres, Assessor-Recorder for the City and County of San Francisco.
Be
Sign up for SFAA classes at www.sfaa.org or by calling 415-255-2288.
On Your A Game.

Zacks, Freedman & Patterson, PC – one of the Bay Area’s leading real estate law firms – is proud to announce the addition of three new attorneys to our team.

Laura Strazzo brings broad insight into California real estate law. Her practice covers a range of real estate matters including land use, nondisclosure and boundary-line disputes, construction defects, landlord-tenant, and compliance issues. Laura also has experience in energy and environmental law.

Brian O’Neill brings extensive experience in land use and environmental law. Prior to joining the firm, Brian worked at the California Coastal Commission on permit appeals for a wide range of projects, including subdivisions, commercial and residential development, affordable housing, and infrastructure. He regularly appears before planning commissions, city councils, and other government agencies.

Robert Little’s practice focuses on real estate litigation, including challenges to local ordinances and administrative decisions, landlord/tenant disputes, property rights, and land use. Robert received a J.D. and M.B.A. dual degree from the University of Wyoming, where he focused on environmental and business law.

San Francisco’s first all-inclusive, fixed-fee property management service An Exclusive Offer for Properties with over $250,000 in Gross Annual Revenue Introducing (415) 821-3167 • Info@RMCsf.com RMC STANDARD RMC ALL-INCLUSIVE Call us today and see if you qualify J.J. Panzer RMC President Host of the Smart Apartment Advisor Show KGORadio810 RMCsf.com SM Imagine No More Leasing Fees BasicsPlus RMC Lease RMC Lease Plus Advisory Starting at $299 one-time fee Flat fee 4% of annual gross (leasing extra) Flat fee 5.5% of annual gross NO LEASING FEES Flat fee 6.5% of annual gross RMCAllInclusive
Laura Strazzo Attorney at Law Brian O’Neill Attorney at Law
Robert
Zacks, Freedman & Patterson, PC • 601 Montgomery Street, Suite 400, San Francisco, CA 94111 415.956.8100 • info@zfplaw.com • www.zfplaw.com
Little Attorney at Law

Landlord & Leasing Agent, A Winning

Having over 25 rental units of her own, Jackie brings rst-hand experience as a landlord to all of our Rentals In S.F. clients.

Every day, our team endeavors to nd quali ed tenants for our clients. With an expert understanding of the ever changing San Francisco rental market, we have made it our priority to ll your vacant unit quickly, e ortlessly, at market rent and with your ideal tenant!

With just one phone call, Jackie will come over to access your needs, appraise your unit, and do all the marketing, prospecting and screening. We then present you with a quali ed tenant ready to move in.

Call Jackie at Rentals In S.F. to ll your vacancy. It will be one of the best calls you’ll ever make. Just ask all our clients!

* Leasing Agent of the Year

* Landlord of the Year

Over 40 years in the field of property management. Specializing in the management of challenging properties resulting from deferred maintenance, mismanagement and tenancy issues.

All product types including rent controlled multi-family, office, SFR's, condominium, retail and hospitality.

Current President of the Professional Property Managers Association of SF, a trade association which promotes excellence in property management.

Call

SF APARTMENT MAGAZINE | MARCH 2023 57 Don’t Settle for Less Than The Best! Proven Expertise In: ● Property Management & Leasing
Expert Witness & Consulting
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Project Management
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For Hands-On Owners Management as little as $100 per month
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us for a free, no obligation consultation © KEHN HERMANO 2019
SFAA winner
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C M Y CM MY CY CMY K sf.0219.rentals-in-sf.pdf 1 2/6/19 7:16 AM

What You Need to Know

sfaa sfaa 2023

We encourage landlords to set their best foot forward as soon as possible to get apartments rented quickly for top dollar. Several clients have not wanted to invest in their properties and then see units sit vacant. Once they agree to make the improvements we suggested early on, the apartments tend to rent quickly without a price reduction.

We predict the market will pick up a little this summer, but we probably won’t see the usual upswing from the winter months. While employees are returning to the office, and consequently, the San Francisco rental market, this influx will likely be counterbalanced by the tech industry layoffs.

UPCOMING CLASSES

During the pandemic, the monthly SFAA member meetings and classes will be held virtually. For member meeting topics and schedules, go to www.sfaa.org. For a list of virtual SFAA classes, turn to the calendar on page 46.

SFAA OFFICE

As the SFAA continues a hybrid in-office work model, members are welcome to make an appointment. However, please refrain from coming in person if you have tested positive for, were exposed to, or have symptoms of COVID-19. The best way to have your questions answered is through email at MemberQuestions@sfaa.org.

Natalie M. Drees can be reached at ndrees@lingschrealty.com.

Nikki Resch

Leasing Manager

Gaetani Real Estate

The San Francisco rental market has gone through some interesting changes over the last few years. From “wants” to “needs,” in 2023, we are seeing many trends continue over from last year, with some new additions giving us a glimpse at what’s to come.

Just like last year, a top priority for renters is the continued need for more space. Working from home remains the norm for many, and extra space to accommodate a home office important. Whether that be an extra bedroom, extra closet, or an extra spacious living room, renters desire more space than ever before. This is also leading to less roommate situations, and we are seeing many solo renters getting their own places—many for the first time. With working from home seemingly permanent, many are not just desiring, but needing more space.

We are also seeing a steady stream of people moving or returning to San Francisco from outside the city, with more and more people coming from outside the country and state. Despite many still

58 MARCH 2023 | SF APARTMENT MAGAZINE
265 IVY STREET | SAN FRANCISCO, CA | 94102 | PHONE 415-255-2288 | FAX 415-255-1112 2023 SFAA UPDATES WEDNESDAY, MARCH 15 In-Person Member Meeting Fort Mason General’s Residence 1 Fort Mason Center 5:00 p.m. to 7:00 p.m.
Look
28
Before You Lease… continued from Page

working from home, there’s been an influx of renters returning to urban life— and there is once again a desire to live closer to work. Closer does not mean too close, though. Vacancies in the Nob Hill and Downtown areas are taking longer to get filled, even with lowered rents. Without the need to be in an office daily, many are choosing to live farther away from the downtown core.

Building safety and security is also a top priority for renters in 2023. As package theft remains an unfortunate issue throughout the city, renters are requesting safe and secure methods for receiving deliveries. Package theft is also a reason some people are moving away from certain buildings and neighborhoods. Prioritizing safety and security should be a top concern for building owners this year.

When it comes to filling vacancies, investing in small cosmetic improvements can really make the difference in getting units rented more quickly. With a high number of vacancies on the market, many people are taking their time to find the right place, often desiring an improved home. Whenever possible, owners should focus on small in-unit upgrades, as well as improved building amenities. Adding conveniences to properties can help them stand out or even keep up with new competition. App/card-based laundry machines, security cameras, and remote-access intercom systems are all frequent requests.

Anything an owner can do to improve the renter experience will benefit their vacancy rate overall.

Nikki Resch can be reached at nikki@ gaetanirealestate.com.

Prevent Fires.

Tape and Bag Lithium Batteries

What should you do with old lithium batteries? A big part of the answer is clear tape. Old lithium batteries may no longer have the power to run devices, but they can still release energy though their contact points. Lithium batteries that are not taped can cause fires in collection trucks and recycling facilities, and harm workers.

• Place clear tape over the contact points of used lithium batteries.

• Put taped lithium batteries in a clear plastic bag, and seal it shut.

• Place the bag on top of your landfill bin. Recology will collect the bag, sort the batteries, and safely ship them to companies that specialize in battery recycling.

SF APARTMENT MAGAZINE | MARCH 2023 59
60 MARCH 2023 | SF APARTMENT MAGAZINE For All Your Security Needs Since 1916 Locks • Alarms Access Control Video Surveillance • Mailboxes Intercom & Phone-Entry Systems Repair • Install • Home or Office Two Locations to Serve You 1720 Sacramento Street San Francisco, CA 94109 101 Industrial Road, No. 12 Belmont, CA 94002 www.warmansecurity.com 24/7 Service 415.775.8513

Lease Review Webinar

Have questions about filling out a residential tenancy agreement? Not sure what needs to be filled out or what the tenant needs to fill out? Take a break and attend our Lease Review class.

The instructor for this class is Michelle Horneff-Cohen of Property Management Systems.

DATE & TIME: Thursday March 30, 2023 10:00am – 11:00am

COST

Members: $45

Nonmembers: $65

REGISTRATION: Contact Stephanie Alonzo at 415.255.2288 x113 or stephanie@sfaa.org

WEBINAR

Once you complete registration you will be sent a separate link to register for the Zoom system.

Holding Deposits

Never used the holding deposit form? Need help navigating the process of when you should use this form? Come and learn when and why you should use a holding deposit.

The instructor for this class is Michelle Horneff-Cohen of Property Management Systems.

DATE & TIME: Thursday March 2, 2023 10:00am – 11:00am

COST

Members: $45

Nonmembers: $65

REGISTRATION: Contact Stephanie Alonzo at 415.255.2288 x113 or stephanie@sfaa.org

WEBINAR

Once you complete registration you will be sent a separate link to register for the Zoom system.

SF APARTMENT MAGAZINE | MARCH 2023 61
2023
sfaa’s
Webinar

S a n F r a n c i s c o A p a r t m e n t A s s o c i a t i o n

Landlord Expo

M u l t i - H o u s i n g E x t r a v a g a n z a

R e n t a l H o u s i n g E x p o : C l a s s e s , C o m m u n i t y & H a p p y H o u r

M a y 1 8 , 2 0 2 3 11 am - 4 pm

F o r t M a s o n C e n t e r - G a l l e r y 3 0 8

T h e F i r s t A n n u a l L a n d l o r d E x p o w i l l o f f e r a t t e n d e e s a c h a n c e

t o e n g a g e w i t h c i t y a g e n c i e s , i n d u s t r y e x p e r t s , a n d f e l l o w

r e n t a l p r o p e r t y o w n e r s t h r o u g h a p a c k e d s c h e d u l e o f

f r e e c l a s s e s a n d Q & A p a n e l s .

P a r t i c i p a t i n g I n d u s t r y P a r t n e r s

Happy Hour 4-5 pm

62 MARCH 2023 | SF APARTMENT MAGAZINE
Free Entry
SF APARTMENT MAGAZINE | MARCH 2023 63 J O H N A N T O N I N I + D A N I E L F O L E Y MULTIFAMILY + MIXED-USE + ADD-VALUE "San Francisco is the only city I can think of that can survive all the things you people are doing to it and still look beautiful " Frank Lloyd Wright Compass is a real estate broker icensed by the State of California and ab des by Equal Housing Opportunity laws License number 01527235 A l materia presented herein is intended for nformational purposes on y and is compi ed from sources deemed reliable but has not been ver fied Changes in price, condit on, sale or withdrawal may be made without not ce No statement is made as to accuracy of any descr ption All measurements and square footage are approximate Daniel Foley 415.866.7997 daniel@danielfoley com www danielfoley com DRE 01866714 John Antonini 415.794.9510 john@antoninisf.com www.antoninisf.com DRE 01842830 1200 Pacific Ave | 4 Units | Nob Hill 1840 Green St | 6 Units | Pacific Heights 3315 Octavia St | 5 Units | Marina District 3315 Octavia St | 6 Units | Marina District The four listings below sold in Q4 2022, received multiple offers, and closed within 3% of the list price with less than 30 days on the market. Call for a free + accurate valuation of your property. P r i c i n g i s I m p o r t a n t

TO MOST PEOPLE, THIS IS JUST A TYPICAL MIDCENTURY MODERN

TO YOU, IT’S YOUR THREE KIDS’ COLLEGE EDUCATION.

We know the properties we manage mean more to owners like you than meets the eye. That’s why, for over 70 years and across three generations of our family, we’ve taken the long view -- building great working relationships as we build value. Because when it comes to taking care of your investment, we definitely see eye-to-eye.

gaetanirealestate.com 415.668.1202

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